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  • Ekonomi Teknik Teknik

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    Achmad Nabhan Yaman
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    1) The document discusses capital investment projects with different rates of return and time periods. It provides examples of calculating internal rates of return (IRR) for projects lasting 1-5 years, 6-8 years, and 9-13 years. 2) Depreciation is considered in the calculations. Taxable income and after-tax cash flows are determined for projects with inventory and without inventory. 3) The effects of inflation on calculating real interest rates are explained using a market interest rate and inflation rate as examples. Adjusting the nominal interest rate for inflation is discussed.

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    1) The document discusses capital investment projects with different rates of return and time periods. It provides examples of calculating internal rates of return (IRR) for projects lasting 1-5 years, 6-8 years, and 9-13 years. 2) Depreciation is considered in the calculations. Taxable income and after-tax cash flows are determined for projects with inventory and without inventory. 3) The effects of inflation on calculating real interest rates are explained using a market interest rate and inflation rate as examples. Adjusting the nominal interest rate for inflation is discussed.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    5 views8 pages

    Ekonomi Teknik Teknik

    Uploaded by

    Achmad Nabhan Yaman
    1) The document discusses capital investment projects with different rates of return and time periods. It provides examples of calculating internal rates of return (IRR) for projects lasting 1-5 years, 6-8 years, and 9-13 years. 2) Depreciation is considered in the calculations. Taxable income and after-tax cash flows are determined for projects with inventory and without inventory. 3) The effects of inflation on calculating real interest rates are explained using a market interest rate and inflation rate as examples. Adjusting the nominal interest rate for inflation is discussed.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
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    of 8

    TUTORIAL MINEO a

    expenditure
    capital
    ←

    Depresiasi
    603--0
    tahunah mil
    Y
    = = = 20

    Taxable income = 200 -140 -20 =


    40 mil

    I
    taxable income Sama tiaptahun yaitu 40mi
    a) 9500

    A : 4000
    4 4000
    T T T q q

    -
    ¥000
    15.000 =
    4000 CHAI i 8) t 4500 (PIF it , 5)

    trig i =
    15%
    15.000 7- 4000 (3/352) 1- 45006014972)
    7- ☒ 3- 408 1- 2237
    ¥ 15 .
    645

    try i = 18%
    15 -000 7- 4000 ( 3,127) t 4500 ( 014371 )
    =? 14 475 .

    RRBT
    15%+3%1 ¥%¥¥;;-) 16 ' > %
    ' = =
    b) depresiasi =

    B, 15.0005--4500
    = =
    2100 /year

    taxable
    year Before tax CF depresiasi 34% income After tax
    income CF
    taxes
    0 -

    15.000 -15-000

    I 4000 2100 1900 -


    646 3354

    2 4000 2100 1900 -


    646 3354

    3 4000 2100 1900 -646 3354

    4 4000 2100 1900 -646 3354

    2100 1900 -646


    {
    4000
    { 4500
    5 3354
    4500

    Taxable income __
    annual profit -

    depresiosi
    =
    4000 -
    -2100 34% asumsidari corporate

    income tax rates


    =
    1900
    34% income taxes =
    1900 ✗ 34%

    = 646

    after tax CF = 4000-696


    = 3354
    =

    > Cari IRR dari cfsetelah tax


    o

    try i =
    10% =D 15000 -73354 (PIA 10%15 ) -14500 ( F/A 10% 5)
    ,
    / .

    15000=715.509
    try i =l2% =D 15000--73354 CPIA , 12% 5) +450041A 12%5)
    ,
    '

    15000=7 ,
    14,644

    10%+2%(15509-15000)=11-1
    IRRAT = %

    15509-14644
    Inventory bukanasctygdikenaidepresiasi
    year Before tax Taxable 39% income After tax
    CF income taxes CF

    0 -20-000 -20-000

    I 1000 1000 -390 610

    2 1500 1500 -585 915


    3 2000 2000 1220
    -780

    4
    {
    2500 -975 1525
    {
    2500

    20-000
    20-000

    a) 20.000=1000 (Plaia) -18000467%471-20.000 CPIF.int)


    try -1--89 .

    20.000=7.1000 (PlAc8%4) -1500415,8%47+20-000041=8%-4)


    20.000 20.337
    tryi = 10%

    20.000710001pA " 10% / 4) +500/8,10%14) -120 -000pA > 10% 4)


    ,

    20-000=7 ,
    19.019

    IRRBT =

    8%-12%(20.33720-000) 20-337-19.019
    =
    85%
    =
    6-radich Sebelum tax 500
    b)
    =

    Gradin setelah tax =

    (1-013911500) = 305

    20-000 = 610 (PIA it 4) , -1 305 (PIE ii. 4) -120-000 (Pftri 4)


    ,

    try -1--5 %
    20-000 # 610 (3 , 546 ) -1 308151103) -1 20-000 (or 8227)

    20 -000 F- 20173

    try i ⇐ 6%
    20-000 610 (3-465)-1 30014,4945) -1 20-000 (0/7921)
    20-000 19.309

    5%-11%(20.173-20000)
    IRRAT =

    20.173
    -
    19304

    %
    =
    5-1
    market rate Ci )= 5,5% i' ?=

    inflation rate (f) =


    2%

    ft (E) (f)
    '

    i = i +

    i -

    f = i 'll + f)
    '
    i =
    Li f) / ( Itf )
    -

    =
    (01055-0102)/(11-0102)
    = Or 034
    = 314% per tahun

    Tika inflation rate = 8%


    i' =
    (i f) Ht f)
    -

    = (0,055 -

    008)/(1+008)
    =
    -0,023

    =
    -
    213% per tahun
    lnrestasi 1- 5- tahvn = 0.10 1- 0,050 -1 (Oslo) ( 01050) =
    Or 1150=11,5-0%1tnn

    Investasi 6-8th =
    Or 10 + 00751-(0107100-75)=01825--18,25 %/th
    lnvestasi g- 13th =
    0-10+010301-10,10)(Or 0303--01330=13,3%1 th

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