ESTIMASI ARUS KAS TAHUNAN PEMBUAT CETAKAN VULCAN

BIAYA TENAGA KERJA ($38,170.00) ($39,315.00) ($40,494.00)

TENAGA KERJA SEMI $0.00 $0.00 $0.00
OTOMATIS
PEMELIHARAAN ($59,500.00) ($61,285.00) ($63,124.00)
BAHAN BAKAR ($26,850.00) ($27,656.00) ($28,485.00)
SAV TENAGA KERJA $5,200.00 $5,356.00 $5,517.00
PENYUSUTAN ($126,250.00) ($126,250.00) ($126,250.00)
BIAYA PRETAKS ($245,570.00) ($249,150.00) ($252,836.00)
PAJAK $105,595.00 $107,134.00 $108,720.00
BIAYA SETELAH PAJAK ($139,975.00) ($142,016.00) ($144,116.00)
+ DEPREC $126,250.00 $126,250.00 $126,250.00
- CAP PENGELUARAN ($813,296.00) $0.00 $0.00 $0.00
ARUS KAS ($13,725.00) ($15,766.00) ($17,866.00)

ESTIMASI ARUS KAS TAHUNAN MESIN SEMI-OTOMATIS

TENAGA KERJA OPERASI ($295,546.00) ($304,412.00) ($313,544.00)

MEMPERTAHANKAN TENAGA KERJA ($39,564.00) ($40,751.00) ($41,973.00)
PERAWATAN SUP ($4,000.00) ($4,120.00) ($4,244.00)
BAHAN BAKAR ($12,300.00) ($12,669.00) ($13,049.00)
PENYUSUTAN ($47,521.00) ($47,521.00) ($47,521.00)
BIAYA PRETAKS ($398,931.00) ($409,473.00) ($420,331.00)
PAJAK $171,540.00 $176,073.00 $180,742.00
BIAYA SETELAH PAJAK ($227,391.00) ($233,400.00) ($239,589.00)
+ PENYUSUTAN $47,521.00 $47,521.00 $47,521.00
-CAP PENGELUARAN $0.00 $0.00 $0.00
ARUS KAS ($179,870.00) ($185,879.00) ($192,068.00)
 ($41,709.00) ($42,960.00) ($44,249.00) ($45,576.00) ($46,944.00)
$0.00 $0.00 $0.00 $0.00 $0.00
($65,017.00) ($66,968.00) ($68,977.00) ($71,046.00) ($73,177.00)
($29,340.00) ($30,220.00) ($31,127.00) ($32,060.00) ($33,022.00)
$5,682.00 $5,853.00 $6,028.00 $6,209.00 $6,395.00
($126,250.00) ($126,250.00) ($126,250.00) ($126,250.00) ($126,250.00)
($256,634.00) ($260,545.00) ($264,575.00) ($268,723.00) ($272,998.00)
$110,353.00 $112,034.00 $113,767.00 $115,551.00 $117,389.00
($146,281.00) ($148,511.00) ($150,808.00) ($153,172.00) ($155,609.00)
$126,250.00 $126,250.00 $126,250.00 $126,250.00 $126,250.00
$0.00 $0.00 $0.00 $0.00 $0.00
($20,031.00) ($22,261.00) ($24,558.00) ($26,922.00) ($29,359.00)

($322,951.00) ($332,639.00) ($342,618.00) ($352,897.00) ($363,484.00)

($43,233.00) ($44,530.00) ($45,866.00) ($47,241.00) ($48,659.00)
($4,371.00) ($4,502.00) ($4,637.00) ($4,776.00) ($4,919.00)
($13,441.00) ($13,844.00) ($14,259.00) ($14,687.00) ($15,127.00)
($47,521.00) ($47,521.00) ($47,521.00) $0.00
($431,517.00) ($443,036.00) ($454,901.00) ($419,601.00) ($432,189.00)
$185,552.00 $190,505.00 $195,607.00 $180,429.00 $185,841.00
($245,965.00) ($252,531.00) ($259,294.00) ($239,172.00) ($246,348.00)
$47,521.00 $47,521.00 $47,521.00 $0.00 $0.00
$0.00 $0.00 $0.00 $0.00 $0.00
($198,444.00) ($205,010.00) ($211,773.00) ($239,172.00) ($246,348.00)
PERTANYAAN 2 ARUS KAS VULCAN
0 12
BIAYA TENAGA KERJA ($38,170.00) ($38,170.00) ($38,170.00)
TENAGA KERJA SEMI $0.00 $0.00 $0.00
OTOMATIS
PEMELIHARAAN ($59,500.00) ($59,500.00) ($59,500.00)
BAHAN BAKAR ($26,850.00) ($26,850.00) ($26,850.00)
SAV TENAGA KERJA $5,200.00 $5,200.00 $5,200.00
PENYUSUTAN ($126,250.00) ($126,250.00) ($126,250.00)
BIAYA PRETAKS ($245,570.00) ($245,570.00) ($245,570.00)
PAJAK $105,595.00 $105,595.00 $105,595.00
BIAYA SETELAH PAJAK ($139,975.00) ($139,975.00) ($139,975.00)
+ DEPREC $126,250.00 $126,250.00 $126,250.00
- CAP PENGELUARAN ($813,296.00) $0.00 $0.00 $0.00
ARUS KAS ($13,725.00) ($13,725.00) ($13,725.00)

PERTANYAAN 3 ARUS KAS SEMI OTOMATIS

TENAGA KERJA OPERASI ($295,546.00) ($295,546.00) ($295,546.00)
MEMPERTAHANKAN TENAGA ($39,564.00) ($39,564.00) ($39,564.00)
KERJA
PERAWATAN SUP ($4,000.00) ($4,000.00) ($4,000.00)
BAHAN BAKAR ($12,300.00) ($12,300.00) ($12,300.00)
PENYUSUTAN ($47,521.00) ($47,521.00) ($47,521.00)
BIAYA PRETAKS ($398,931.00) ($398,931.00) ($398,931.00)
PAJAK $171,540.00 $171,540.00 $171,540.00
BIAYA SETELAH PAJAK ($227,391.00) ($227,391.00) ($227,391.00)
+ PENYUSUTAN $47,521.00 $47,521.00 $47,521.00
-CAP PENGELUARAN $0.00 $0.00 $0.00
ARUS KAS ($179,870.00) ($179,870.00) ($179,870.00)
6 7 8
($38,170.00) ($38,170.00)
$0.00 $0.00
($59,500.00) ($59,500.00)
($26,850.00) ($26,850.00)
$5,200.00 $5,200.00
($126,250.00) ($126,250.00)
($245,570.00) ($245,570.00)
$105,595.00 $105,595.00
($139,975.00) ($139,975.00)
$126,250.00 $126,250.00
$0.00 $0.00
($13,725.00) ($13,725.00)

($295,546.00) ($295,546.00)
($39,564.00) ($39,564.00)
($4,000.00) ($4,000.00)
($12,300.00) ($12,300.00)
$0.00 $0.00
($351,410.00) ($351,410.00)
$151,106.00 $151,106.00
($200,304.00) ($200,304.00)
$0.00 $0.00
$0.00 $0.00
($200,304.00) ($200,304.00)
 Fonderia Di Torino SPA

Mesin Tua Mesin Baru

Penjualan 280,000,000 280,000,000
Biaya 351409.6 119319.6
Depresiasi 47520 126,250
EBIT 279,601,070 279,754,430
Pajak(43%) 120228460.3 120294405.1
Pendapatan bersih 159,372,610 159,460,025
Arus Kas Operasi 159,420,130 159,586,275

Biaya Mesin Tua Baru

# karyawan 24 2
gaji 7.33 11.36
jam 8 8
pemeliharaan 188.4 59500
# karyawan yang setara 3 0
gaji 7.85 0
jam 8 0
persediaan 4000 0
kekuatan 12300 26850
tabungan 0 5200
hari 210 210
biaya 351409.6 119319.6

Nilai buku
Kerugian Modal = Nilai jual kembali-Nilai buku
Penghematan Pajak = Kerugian Modal * Tarif Pajak
Pengeluaran Modal = Biaya Mesin Baru-Nilai Jual Kembali Mesin Lama

Arus kas

CF0 -813298.25
CF1 166145
CF2 166145
CF3 166145
CF4 166145
CF5 166145
CF6 166145
CF7 166145
CF8 451270
 Jaimini Patel
Sarah Fitzpatrick
Jessica Hicks

penyusutan mesin baru

126,250

-166,145

Mesin Baru akan menghemat 166.145 per tahun dengan tingkat penjualan saat ini. Ini
adalah Arus Kas Tambahan yang positif.

(415807-130682) 285125
(130000-285125) 155125
(155125*0.43) 66703.75
813296.25

e-tabungan di
Pajak
Nilai diskon
18% 19%

NPV -59976.96 -85397.98

IRR 15.84%
Indeks profitabilitas 0.93 0.89
Periode pengembalian 4.90

asumsi tahun 1984 14%

Asumsi Pemegang Saham Mayoritas 18%

Biaya Ekuitas 12.80%

WACC 9.86%
17%

-33100.66

0.96
 Biaya Ekuitas = Rf + β( E(Rm) - Rf )

Tarif Bebas Risiko 5.30%

Premi Risiko 6.00%
β (Beta) 1.25

WACC = Re ( E/(D+E) ) + Rd (D/D+E) )*(1-T)

Tingkat Bunga Utang 6.80%

Persentase pajak 43.00%
Utang 33.0%
Ekuitas 67.0%