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0 1

Initial Investment 1650000 Initial Inv -1,650,000.00


Sales per year 1240000 Sales 1,240,000.00
Cost per year 485000 less:Costs 485,000.00
Depreciation per year 550000 Less: Dep 550,000.00
PBT 205,000.00
Less: Tax 71,750.00
Add: Dep 550,000.00
OCF 683,250.00
Add: Net salvage Value 0
Net Annual CashFlow -1,650,000.00 683,250.00
PV of cash flows -1650000.00 594130.43
NPV -89986.44
2 3

1,240,000.00 1,240,000.00
485,000.00 485,000.00
550,000.00 550,000.00
205,000.00 205,000.00
71,750.00 71,750.00
550,000.00 550,000.00
683,250.00 683,250.00
0 0
683,250.00 683,250.00
516635.16 449247.97
0 1
Initial Investment 1650000 Initial Inv -1,650,000.00
Sales per year 1240000 Sales 1,240,000.00
Cost per year 485000 less:Costs 485,000.00
Depreciation per year 550000 Less: Dep 550,000.00
Salvage value 225000 PBT 205,000.00
Net Working capital 285000 Less: Tax 71,750.00
NSV 146250 Add: Dep 550,000.00
OCF 683,250.00
Add: Net salvage Value 0
CashFlow -1,650,000.00 683,250.00
Working capital -285,000.00
Release of working capital
Net Annual CashFlow -1,935,000.00 683,250.00
PV of cash flows -1935000.00 594130.43
NPV -91432.56
2 3

1,240,000.00 1,240,000.00
485,000.00 485,000.00
550,000.00 550,000.00
205,000.00 205,000.00
71,750.00 71,750.00
550,000.00 550,000.00
683,250.00 683,250.00
0 146,250.00
683,250.00 829,500.00

285,000.00
683,250.00 1,114,500.00
516635.16 732801.84
0
Initial Investment 3900000 Initial Inv -3,900,000.00
Sales per year 2350000 Sales
COGS = 25% of sale 587500 Less: COGS (25% of sales)
Depreciation per year 975000 Less: Dep
Net Working capital 150000 PBT
Less: Tax
Add: Dep
OCF
Add: Net salvage Value
Working capital -150,000.00
Release of working capital
Net Annual CashFlow -4,050,000.00
PV of cash flows -4,050,000.00
NPV 464,664.86
1 2 3 4

2,350,000.00 2,350,000.00 2,350,000.00 2,350,000.00


587,500.00 587,500.00 587,500.00 587,500.00
975,000.00 975,000.00 975,000.00 975,000.00
787,500.00 787,500.00 787,500.00 787,500.00
275,625.00 275,625.00 275,625.00 275,625.00
975,000.00 975,000.00 975,000.00 975,000.00
1,486,875.00 1,486,875.00 1,486,875.00 1,486,875.00
0.00

150,000.00
1,486,875.00 1,486,875.00 1,486,875.00 1,636,875.00
1315818.5841 1164441.2248 1030478.96 1003926.0924
0
Initial Investment 530000 Initial investment -530,000.00
Incremental Saving 186000 Incremental Savings
Incremental dep 106000 Less: Incremental Dep
Reduction in Working capital 85000 PBT
Salvage value 50000 Less: Tax
NSV 32500 PAT
Add: Dep
Change WC 85,000.00
Add: NSV
Net Annual Cash Flow -445,000.00
IRR 0.2068
1 2 3 4 5

186,000.00 186,000.00 186,000.00 186,000.00 186,000.00


106,000.00 106,000.00 106,000.00 106,000.00 106,000.00
80,000.00 80,000.00 80,000.00 80,000.00 80,000.00
28,000.00 28,000.00 28,000.00 28,000.00 28,000.00
52,000.00 52,000.00 52,000.00 52,000.00 52,000.00
106,000.00 106,000.00 106,000.00 106,000.00 106,000.00
-85,000.00
32,500.00
158,000.00 158,000.00 158,000.00 158,000.00 105,500.00
0
Initial Investment 415000 Investment -415,000.00
Reduction in salary 120000 Reduction in salary
Incremental dep 83000 Less: Additional Depreciation
Reduction in Working cap 80000 Benefits before tax
Salvage value 50000 Tax
NSV 33000 PAT
Add: dep
Cashflows
Reduction in working capital 80,000.00
Net salvage value
Working capital required

Net Annual cashflows -335,000.00


PV -335,000.00
NPV 52,279.56
1 2 3 4 5

120,000.00 120,000.00 120,000.00 120,000.00 120,000.00


83,000.00 83,000.00 83,000.00 83,000.00 83,000.00
37,000.00 37,000.00 37,000.00 37,000.00 37,000.00
12,580.00 12,580.00 12,580.00 12,580.00 12,580.00
24,420.00 24,420.00 24,420.00 24,420.00 24,420.00
83,000.00 83,000.00 83,000.00 83,000.00 83,000.00
107,420.00 107,420.00 107,420.00 107,420.00 107,420.00

33,000.00
-80,000.00

107,420.00 107,420.00 107,420.00 107,420.00 60,420.00


98,550.46 90,413.26 82,947.95 76,099.04 39,268.85
0 1 2 3
Invest (new) -15,600,000.00
Savings before tax 6,300,000.00 6,300,000.00 6,300,000.00
Depreciation(New) 3,900,000.00 3,900,000.00 3,900,000.00
DEpreciation(Old) 1,350,000.00 1,350,000.00 1,350,000.00
Incremental Dep 2,550,000.00 2,550,000.00 2,550,000.00

Incremental Benefits 3,750,000.00 3,750,000.00 3,750,000.00


Tax 1,462,500.00 1,462,500.00 1,462,500.00
Benefits after Tax 2,287,500.00 2,287,500.00 2,287,500.00
Add: Inc Dep 2,550,000.00 2,550,000.00 2,550,000.00
OCF 4,837,500.00 4,837,500.00 4,837,500.00

Sale of Old(salvage Value) 4,607,000.00


Working capital -250,000.00
Return of WC
Net Annual Cashflows -11,243,000.00 4,837,500.00 4,837,500.00 4,837,500.00
PV -11,243,000.00 4397727.273 3997933.884 3634485.349
NPV 4,261,977.46
IRR 26.40%
4

6,300,000.00
3,900,000.00
1,350,000.00
2,550,000.00

3,750,000.00
1,462,500.00
2,287,500.00
2,550,000.00
4,837,500.00

250,000.00
5,087,500.00
3474830.954
Techron I Techron II 0 1
Initial cost 245000 315000 Initial cost -245000.00
Operating cost 39000 48000 Operating costs -39000.00
Dep 81666.67 63000 Less: Deprecation 81666.67
salvage value 20000 20000 Total costs -120666.67
NSV 13000 13000 tax (benefit) -42233.33
Discount rate 9% 9% Post tax cost -78433.33
Add: dep 81666.67
OCF 3233.33
NSV
Cashflows -245000.00 3233.33
PV -245000.00 2966.36
NPV -226777.10
Eqvivalent annual cost
(Annuity) (-) -89589.37
2 3 0 1 2
Initial cost -315000.00
-39000.00 -39000.00 Operating costs -48000.00 -48000.00
81666.67 81666.67 Less: Deprecation 63000.00 63000.00
-120666.67 -120666.67 Total costs -111000.00 -111000.00
-42233.33 -42233.33 tax (benefit) -38850.00 -38850.00
-78433.33 -78433.33 Post tax cost -72150.00 -72150.00
81666.67 81666.67 Add: dep 63000.00 63000.00
3233.33 3233.33 OCF -9150.00 -9150.00
13000.00 NSV
3233.33 16233.33 Cashflows -315000.00 -9150.00 -9150.00
2721.43 12535.11 PV -315000.00 -8394.50 -7701.37
NPV -342141.20
Eqvivalent annual cost
(Annuity) (-) -87961.92
3 4 5

-48000.00 -48000.00 -48000.00


63000.00 63000.00 63000.00
-111000.00 -111000.00 -111000.00
-38850.00 -38850.00 -38850.00
-72150.00 -72150.00 -72150.00
63000.00 63000.00 63000.00
-9150.00 -9150.00 -9150.00
13000.00
-9150.00 -9150.00 3850.00
-7065.48 -6482.09 2502.24

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