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  • Problema 11

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    Lo, Inc. is considering investing $435,000 in an asset with a 5 year life. In year 1, revenues are estimated at $275,000 and expenses at $87,000, growing 3% annually. The company will use straight-line depreciation over 5 years to reduce the asset value to the $55,000 salvage value. A $15,000 working capital investment is required upfront but recovered at year 5. The project's nominal cash flows are calculated for each year over the 5 years.

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    Lo, Inc. is considering investing $435,000 in an asset with a 5 year life. In year 1, revenues are estimated at $275,000 and expenses at $87,000, growing 3% annually. The company will use straight-line depreciation over 5 years to reduce the asset value to the $55,000 salvage value. A $15,000 working capital investment is required upfront but recovered at year 5. The project's nominal cash flows are calculated for each year over the 5 years.

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    26 views8 pages

    Problema 11

    Uploaded by

    zimbolix
    Lo, Inc. is considering investing $435,000 in an asset with a 5 year life. In year 1, revenues are estimated at $275,000 and expenses at $87,000, growing 3% annually. The company will use straight-line depreciation over 5 years to reduce the asset value to the $55,000 salvage value. A $15,000 working capital investment is required upfront but recovered at year 5. The project's nominal cash flows are calculated for each year over the 5 years.

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    of 8

    21 Calculating Nominal Cash Flow. Lo, Inc.

    , is considering an investment of $435,000 in an asset with an economic life

    Tasa de crecimiento: 0.03 VALOR DE RESCATE: FLUJO


    Cálculo de la depreciación: Entrada de efecti: 55000 55000
    Importe a depreciar: 435000 Valor en libros 0
    Tiempo de la deprecia 5 Utilidad gravable 55000
    Importe de la depreci 87000 Impuesto 11550 11550
    Tasa de impuestos: 0.21 FLUJO DE EFECTIVO…… 43450

    estado de resultados
    Año 0Año 1 Año 2 Año 3 Año 4 Año 5
    Ventas 275000 283250 291747.5 300499.9 309514.9
    Gastos 87000 89610 92298.3 95067.25 97919.27
    Depreciación 87000 87000 87000 87000 87000
    Utilidad antes de impuestos 101000 106640 112449.2 118432.7 124595.7
    Menos: impuestos al 34 % 21210 22394.4 23614.33 24870.86 26165.09
    Utilidad Neta 79790 84245.6 88834.87 93561.81 98430.57
    Más: depreciación 87000 87000 87000 87000 87000
    FLUJO DE EFECTIVO DE OPERAC 166790 171245.6 175834.9 180561.8 185430.6

    Gasto de capital: -435000


    Nuevo Capital en Trab -15000 15000
    Flujo de efectivo por valor de rescate. 43450
    TOTAL DE FLUJO DE E -450000 166790 171245.6 175834.9 180561.8 243880.6
    n asset with an economic life of five years. The firm estimates that the nominal annual cash revenues and expenses at the end of the first
    xpenses at the end of the first year will be $275,000 and $87,000, respectively. Both revenues and expenses will grow thereafter at the ann
    will grow thereafter at the annual inflation rate of 3 percent. The company will use the straight-line method to depreciate its asset to zero
    to depreciate its asset to zero over five years. The salvage value of the asset is estimated to be $55,000 in nominal terms at that time. The
    ominal terms at that time. The one-time net working capital investment of $15,000 is required immediately and will be recovered at the en
    and will be recovered at the end of the project. The corporate tax rate is 21 percent. What is the project’s total nominal cash flow from ass
    tal nominal cash flow from assets for each year?

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