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# IME 345

Spring 2012

PROBLEM 11.5
a

## INSIDER'S VIEWPOINT APPROACH

KEEP EXISTING SPECIALTY CONCRETE MIXER
MARKET VALUE =
ANNUAL O&M COST =
SALVAGE VALUE IN 8 YEARS =
REMAINING LIFE =
MARR =

\$65,000.00
\$105,000.00
\$5,000.00
8
15.00%

EUAC=105000-5000(A|F 15%,8)=
EUAC=105000-5000(0.07285)=

\$104,635.75

## REPLACE WITH NEW SPECIALTY CONCRETE

MIXER
FIRST COST =
ANNUAL O&M COST =
SALVAGE VALUE =
REMAINING LIFE =
MARR =

\$375,000.00
\$40,000.00
\$45,000.00
8
15.00%

## EUAC=(375000-65000)(A|P 15%,8)+4000045000(A|F 15%,8)=

EUAC=310000(0.22285)+40000-45000(0.07285)=

\$105,805.25

## RECOMMENDATION: KEEP THE EXISTING SPECIALTY MIXER

EUAC DIFFERENCE =

\$1,169.52

IME 345

Spring 2012

PROBLEM 11.5
b

## OUTSIDER'S VIEWPOINT APPROACH

KEEP EXISTING SPECIALTY CONCRETE MIXER
MARKET VALUE =
ANNUAL O&M COST =
SALVAGE VALUE IN 8 YEARS =
REMAINING LIFE =
MARR =

\$65,000.00
\$105,000.00
\$5,000.00
8
15.00%

## EUAC=65000(A|P 15%,8)+105000-5000(A|F 15%,8)=

EUAC=65000(0.22285)+105000-5000(0.07285)=

\$119,121.00

## REPLACE WITH NEW SPECIALTY CONCRETE MIXER

FIRST COST =
ANNUAL O&M COST =
SALVAGE VALUE =
REMAINING LIFE =
MARR =

\$375,000.00
\$40,000.00
\$45,000.00
8
15.00%

## EUAC=375000(A|P 15%,8)+40000-45000(A|F 15%,8)=

EUAC=375000(0.22285)+40000-45000(0.07285)=

\$120,290.50

## RECOMMENDATION: KEEP THE EXISTING SPECIALTY MIXER

EUAC DIFFERENCE =

\$1,169.52

IME 345

Spring 2012

PROBLEM 11.19
(4 points)
a

## INSIDER'S VIEWPOINT APPROACH

KEEP EXISTING TURRET LATHE AND CONTRACT OUT
PURCHASE PRICE =
MARKET VALUE TODAY =
DECREASE IN MV/YR =
MINIMUM MARKET VALUE =
ANNUAL CONTRACT COST =
ANNUAL O&M COST =
REMAINING LIFE =
AFTER-TAX MARR =
TAX RATE =

\$96,000.00
5
\$18,000.00
\$3,000.00
\$3,000.00
\$13,000.00
\$8,000.00
8
9.00%
40.00%

EOY
0
1
2
3
4
5
6
7
8

BTCF
\$0.00
-\$21,000.00
-\$21,000.00
-\$21,000.00
-\$21,000.00
-\$21,000.00
-\$21,000.00
-\$21,000.00
-\$18,000.00

DWO
\$8,563.20
\$8,572.80
\$4,281.60
\$0.00
\$0.00
\$0.00
\$0.00
\$0.00

B(EX)
\$21,417.60
\$12,854.40
\$4,281.60
\$0.00
\$0.00
\$0.00
\$0.00
\$0.00
\$0.00

TI
-\$29,563.20
-\$29,572.80
-\$25,281.60
-\$21,000.00
-\$21,000.00
-\$21,000.00
-\$21,000.00
-\$18,000.00

T
-\$11,825.28
-\$11,829.12
-\$10,112.64
-\$8,400.00
-\$8,400.00
-\$8,400.00
-\$8,400.00
-\$7,200.00
EUAC=

ATCF
\$0.00
-\$9,174.72
-\$9,170.88
-\$10,887.36
-\$12,600.00
-\$12,600.00
-\$12,600.00
-\$12,600.00
-\$10,800.00
\$11,108.62
SUM(1-8) =

MACRSGDS(7)
8.93%
8.92%
8.93%
4.46%
0.000%
0.000%
0.000%
0.000%
0.000%
22.31%

IME 345

Spring 2012

PROBLEM 11.19

## REPLACE WITH NEW TURRET LATHE

FIRST COST =
ANNUAL O&M COST =
SALVAGE VALUE =
\$65,000*0.7^8
REMAINING LIFE =
AFTER-TAX MARR =
TAX RATE =

\$65,000.00
\$10,000.00
\$3,747.12
8
9.00%
40.00%

## REPLACE WITH NEW TURRET LATHE AFTER-TAX ANALYSIS

NOTE! DEPRECIATION WRITEOFF OF EXISTING TURRET LATHE IN YEAR 1 IS \$96,000.00*0.0892/2=\$4281.60

NOTE! BOOK VALUE OF EXISTING TURRET LATHE AT END OF YEAR 1 FOR TAX PURPOSES IS \$12,854.40+\$4281.60=\$21,417.60-\$4281.60=\$17,136.00
NOTE! TI FOR EXISTING TURRET LATHE IN YEAR 1 IS \$18,000.00-\$17,136.00=\$864.00
NOTE! DEPRECIATION WRITEOFF OF NEW TURRET LATHE IN YEAR 1 IS \$65,000.00*0.1429=\$9288.50
NOTE! TOTAL DEPRECIATION WRITEOFF IN YEAR 1 IS \$4281.60+\$9288.50=\$13,570.10
NOTE! TOTAL TAXABLE INCOME IN YEAR 1 IS -\$10,000.00-\$13,570.10+\$864.00=-\$22,706.10

EOY
0
1
2
3
4
5
6
7
8

BTCF
-\$47,000.00
-\$10,000.00
-\$10,000.00
-\$10,000.00
-\$10,000.00
-\$10,000.00
-\$10,000.00
-\$10,000.00
-\$6,252.88

DWO

B(NEW)

TI

ATCF

\$13,570.10
\$15,918.50
\$11,368.50
\$8,118.50
\$5,804.50
\$5,798.00
\$5,804.50
\$2,899.00

\$65,000.00
\$55,711.50
\$39,793.00
\$28,424.50
\$20,306.00
\$14,501.50
\$8,703.50
\$2,899.00
\$0.00

\$0.00
-\$22,706.10
-\$25,918.50
-\$21,368.50
-\$18,118.50
-\$15,804.50
-\$15,798.00
-\$15,804.50
-\$9,151.88

\$0.00
-\$9,082.44
-\$10,367.40
-\$8,547.40
-\$7,247.40
-\$6,321.80
-\$6,319.20
-\$6,321.80
-\$3,660.75
EUAC=

\$47,000.00
-\$917.56
\$367.40
-\$1,452.60
-\$2,752.60
-\$3,678.20
-\$3,680.80
-\$3,678.20
-\$2,592.13
\$10,569.92

## EUAC EXISTING TURRET LATHE AND CONTRACT OUT =

\$11,108.62
EUAC (REPLACE WITH NEW TURET LATHE) =
\$10,569.92
RECOMMENDATION: REPLACE WITH NEW TURRET LATHE (ALTHOUGH CLOSE)

MACRSGDS(7)

14.29%
24.49%
17.49%
12.49%
8.93%
8.92%
8.93%
4.46%

IME 345

## Chapter 11 Homework Solution

Spring 2012

PROBLEM 11.23
(3 points)
FIRST COST =
MILES DRIVEN =
O&M FIRST YEAR =
SALVAGE % DECLINE =
MARR =

\$28,000.00
15,000
\$0.505
10.00%
20.00%
9.00%

LIFE
1
2

St
\$22,400.00
\$17,920.00

O&M
\$7,575.00
\$8,332.50

St(2)

=28000*(1-20%)^2
CR(2)
=PMT(9%,2,-28000,28000*(1-20%)^2)
O&M(2)
=15000*0.505*(1+10%)^(2-1)
BTEUAO&MC(2) =PMT(9%,2,-NPV(9%,7575,8332.5))
BTEUAC(2)
=7342.97+7937.44
\$14,336.00 \$6,688.27
\$9,165.75
\$8,312.14 \$15,000.41
\$11,468.80 \$6,134.86
\$10,082.33
\$8,699.23 \$14,834.08
\$9,175.04 \$5,665.51
\$11,090.56
\$9,098.80 \$14,764.31 OPTIMUM
\$7,340.03 \$5,266.12
\$12,199.61
\$9,510.96 \$14,777.08
\$5,872.03 \$4,925.10
\$13,419.57
\$9,935.79 \$14,860.89
\$4,697.62 \$4,632.93
\$14,761.53
\$10,373.36 \$15,006.29
\$3,758.10 \$4,381.75
\$16,237.69
\$10,823.73 \$15,205.48

3
4
5
6
7
8
9

CR
\$8,120.00
\$7,342.97

MILES
PER MILE

BTEUAO&MC
\$7,575.00
\$7,937.44

BTEUAC
\$15,695.00
\$15,280.41

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