Thursday, May 6, 2010

MGT201 Solution:-


Solution:


0 Year
Revenues in 0 year                                              0
Less: Expenses                                                   1,000,000 
Net Cash Flow                                                 -1,000,000                                                                            
Present Value                                                   -1,000,000
PV= NCF/ (1+i) n
PV=-1,000,000

1st Year
Revenues in 1st year                                                   510,000
Less: Expenses                                                           250,000 
 Net Cash Flow                                                          260,000
 Present Value                                                            238532.1
 Net Cash Flow
PV= NCF/(1+i)n
PV=260000/(1+0.09) 1
PV=260000/(1.09) 1
PV= 238532.1

2nd Year
Revenues in 2nd year                                                  510,000
Less: Expenses                                                           250,000  
 Net Cash Flow                                                          260,000
 Present Value                                                            218836.8
 PV= NCF/ (1+i) n
PV=260000/ (1+0.09) 2
PV=260000/ (1.09) 2
PV= 218836.8


3rdYear
Revenues in 3rd year                                                  510,000
Less: Expenses                                                           250,000 
 Net Cash Flow                                                          260,000
 Present Value                                                            201550.4
 PV= NCF/ (1+i) n
PV=260000/ (1+0.09) 3
PV=260000/(1.09) 3
PV= 201550.4

4th Year
Revenues in 4th year                                                   510,000
Less: Expenses                                                           250,000 
 Net Cash Flow                                                          260,000
 Present Value                                                            184266.5
 PV= NCF/ (1+i) n
PV=260000/ (1+0.09) 4
PV=260000/(1.09) 4
PV= 184266.5

5thYear
Revenues in 5th year                                                   510,000
Less: Expenses                                                           250,000 
 Net Cash Flow                                                          260,000
 Present Value                                                            168831.16
 PV= NCF/ (1+i) n
PV=260000/ (1+0.09) 5
PV=260000/(1.09) 5
PV= 168831.16

6thYear
Revenues in 6th year                                                   510,000
Less: Expenses                                                           250,000 
 Net Cash Flow                                                          260,000
 Present Value                                                            154974.07
 PV= NCF/ (1+i) n
PV=260000/ (1+0.09) 6
PV=260000/(1.09) 6
PV= 154974.07

7th Year
Revenues in 7th year                                                   410,000
Less: Expenses                                                           250,000 
 Net Cash Flow                                                          160,000
 Present Value                                                            87527.4
 PV= NCF/ (1+i) n
PV=160,000/ (1+0.09) 7
PV=160,000/(1.09) 7
PV= 87527.4

8th Year
Revenues in 8th year                                                   450,000
Less: Expenses                                                           250,000 
 Net Cash Flow                                                          200,000
 Present Value                                                            100401.60
 PV= NCF/ (1+i) n
PV=200,000/ (1+0.09) 8
PV=200,000/(1.09) 8
PV= 100401.60

9th Year
Revenues in 9th year                                                   500,000
Less: Expenses                                                           250,000 
 Net Cash Flow                                                          250,000
 Present Value                                                            115101.29
 PV= NCF/ (1+i) n
PV=250,000/ (1+0.09) 9
PV=250,000/(1.09) 9
PV= 115101.29

10th Year
Revenues in 10th year                                                 600,000
Less: Expenses                                                           250,000 
 Net Cash Flow                                                          350,000
 Present Value                                                            147679.32
 PV= NCF/ (1+i) n
PV=350,000/ (1+0.09) 10
PV=350,000/(1.09) 10
PV= 147679.32





NET PRESENT VALUE

NPV= -IO + CF/(1+i)n + CF2/(1+i)n+1 + CF3(1+i)n+2+ CF3/(1+i)n+3+ CF3/(1+i)n+4+ CF3/(1+i)n+5+ CF3/(1+i)n+6 CF3/(1+i)n+7 CF3/(1+i)n+8 CF3/(1+i)n+9 CF3/(1+i)n+10

NPV=617,701

Since Net Present value is greater than zero i.e. 0.6 million, it is feasible for Premier National Bank to start the new branch in Chitral.




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