2. , , ; , .
3. , , , .
.1.: , .
, ( ) :
, ( ) ;
;
( / ..);
.
(t). , (), :
(t=1), (≤1 );
(t=1 ), (1 ≤ ≤ 3);
(t=1 ), (>3 ).
6 (=6), (t=1)
=6 , 7 (t0, t1, t2, t3, t4, t5, t6)
, :
- () NPV (Net Present Value);
- () - IRR (r)(Internal Rate of Return);
- () - PI (Profitability Index);
- DPP (Discounted Payback Period).
() , . , (r), .
, , t- , a, r, , :
: t t- (t = 0, 1, );
St = ,
: T .
, (t) .
|
|
. , () ( ) .
:
, , : NPV>> 0
:
r > r
:
PI > 1
:
DPP < .
(NPV) , , (1):
(1)
, : CFit t; CFot - t,
ICt t.
(1)
(1), (2):
, (2)
: CFit - CFot= CFt, (3)
, (4)
, (5)
, :
(6)
NPV 1 2, r=0.12, t=1 , T=6 . (6), NPV B .4.
= - 90+ 113.827=23.827(..) (7)
DICt = 90 .., PV = 113.827 .. (8)
NPV 3 .
3. NPV (.)
(t,) - | |||||||
CFt | |||||||
PVt | 8.93 | 15.944 | 21.354 | 19.067 | 22.699 | 25.841 | |
PVt | 8.93 | 24.87 | 46.23 | 65.29 | 87.99 | 113.83 | |
DICt | -90 | ||||||
NPVt | -81.07 | -65.126 | -43.772 | -24.705 | -2.01 | 23.83 |
: (NPV) 23.827 .., , NPV.
.
NPV » .3, NPV.
4. (NPV) »
ICt | ICt t=0 | |
NPV, . . | A | 23.827 |
B | 43,871 |
, , NPV » __________________________________________________________________
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