10

0
1

10

11

12

CPV
1
0
1
2
3
4
5

2
12000

EUAB
3

ror=
s
4

2918
2918
2918
2918
2918

ATCF
Tax Rate =
N
1
0
1
2
3
4
5

CPV
2
12000

EUAB
3

s
4

2918
2918
2918
2918
2918

750

0.156949
p/f = 1/(1+ror)^n
5
1
1
1
1
1
0

EUAB'
6=3 x 5
0
2522
2180
1884
1629
1408

S'
7= 4 x 5
0
0
0
0
0
0

0 ror=
DC
5=(3000-750)/5
2250
2250
2250
2250
2250
2250

Ti
6=3 -5
668
668
668
668
668

BPV
8 =6 + 7
0
2522
2180
1884
1629
1408
9623

0.1054859
Tax
ATCF
7= 6 x Tax rate 8 = 3 -7
0
0
0
0
0

2918
2918
2918
2918
2918

p/f = 1/ (1 + ror ) ^n
9
0.90
0.82
0.74
0.67
0.61

ATCF'
S'
BPV
10= 8 x 9 11 = 4 * 9 12 = 10 + 11
2639.56
2387.70
2159.86
1953.77
1767.34

0.00
0.00
0.00
0.00
454.25

2639.56
2387.70
2159.86
1953.77
2221.59
11362.47