Year 2013 2014 2015 2016 2017

Sales volume 1,230.00 1,350.00 1,600.00 1,550.00 1,630.00

Probe 1,230.00 1,309.37 1,393.87 1,483.81 1,579.56
Compounded
average growth CAGR 6.45%
rate

Probe
Year 2013 2014 2015 2016 2017
Sales Volume 1,230.00 1,350.00 1,600.00 1,550.00 1,630.00

Current Prod. 1,800.00 1,800.00 1,800.00 1,800.00 1,800.00

Capacity

Future Prod. 1,800.00 1,800.00 1,800.00 1,800.00 1,800.00

Cpacity
Incremental - - - - -
Sales

Chart Title
4,000.00
3,500.00
3,000.00
2,500.00
2,000.00
1,500.00
1,000.00
500.00
-
1 2 3 4 5 6 7 8 9 10 11 12
Sal es Vol ume Current
Future Prod. Cpaci ty
 2018 2019
1,700.00 1,790.00
1,681.49 1,790.00

CAGR OK

2018 2019 2020 2021 2022 2023 2024 2025 2026

1,700.00 1,790.00 1,906.00 2,029.00 2,160.00 2,299.00 2,447.00 2,605.00 2,773.00

1,800.00 1,800.00 1,800.00 1,800.00 1,800.00 1,800.00 1,800.00 1,800.00 1,800.00

1,800.00 1,800.00 3,200.00 3,200.00 3,200.00 3,200.00 3,200.00 3,200.00 3,200.00

- - 106.00 229.00 360.00 499.00 647.00 805.00 973.00

Chart Title

5 6 7 8 9 10 11 12 13 14 15 16 17
s Vol ume Current Prod. Capaci ty
re Prod. Cpaci ty
 2027 2028 2029
2,952.00 3,142.00 3,345.00

1,800.00 1,800.00 1,800.00

3,200.00 3,200.00 3,200.00

1,152.00 1,342.00 1,400.00

 Unit Sales Prices 900 MXP
Sales discount 5%
Direct cost 35%
Indirect cost 16%
GA 10%
MKT 20%

Year 2020 2021 2022 2023

Incemental sales volume 106.00 229.00 360.00 499.00
Incremental gross Sales 95,400.00 206,100.00 324,000.00 449,100.00
MXP
Discounts 4,770.00 10,305.00 16,200.00 22,455.00
Net Sales 90,630.00 195,795.00 307,800.00 426,645.00

Direct Cost 33,390.00 72,135.00 113,400.00 157,185.00

Indirect Cost 15,264.00 32,976.00 51,840.00 71,856.00
Total Cost 48,654.00 105,111.00 165,240.00 229,041.00
As%of GS 51% 51% 51% 51%

Direct Profit Margin 41,976.00 90,684.00 142,560.00 197,604.00

As % of Gs 44% 44% 44% 44%

GA 9,540.00 20,610.00 32,400.00 44,910.00

MKT 19,080.00 41,220.00 64,800.00 89,820.00
Total Expense line 28,620.00 61,830.00 97,200.00 134,730.00
AS % of GS 30% 30% 30% 30%

Gains before Taxes 13,356.00 28,854.00 45,360.00 62,874.00

As % of Gs 14% 14% 14% 14%

Incremental WK
DSO 17,370.75 37,527.38 58,995.00 81,773.63
DPO 4,054.50 8,759.25 13,770.00 19,086.75
DIRM 2,504.25 5,410.13 8,505.00 11,788.88
DIFG 3,784.20 8,175.30 12,852.00 17,814.30
Working req 19,604.70 42,353.55 66,582.00 92,290.05
As % of Gs 21% 21% 21% 21%

Incremental WK 19,604.70 22,748.85 24,228.45 25,708.05

 DSO 69 Days
DPO 30 Days
DIRM 27 Days
DIFG 28 Days

2024 2025 2026 2027 2028 2029

647.00 805.00 973.00 1,152.00 1,342.00 1,400.00
582,300.00 724,500.00 875,700.00 1,036,800.00 1,207,800.00 1,260,000.00

29,115.00 36,225.00 43,785.00 51,840.00 60,390.00 63,000.00

553,185.00 688,275.00 831,915.00 984,960.00 1,147,410.00 1,197,000.00

203,805.00 253,575.00 306,495.00 362,880.00 422,730.00 441,000.00

93,168.00 115,920.00 140,112.00 165,888.00 193,248.00 201,600.00
296,973.00 369,495.00 446,607.00 528,768.00 615,978.00 642,600.00
51% 51% 51% 51% 51% 51%

256,212.00 318,780.00 385,308.00 456,192.00 531,432.00 554,400.00

44% 44% 44% 44% 44% 44%

58,230.00 72,450.00 87,570.00 103,680.00 120,780.00 126,000.00

116,460.00 144,900.00 175,140.00 207,360.00 241,560.00 252,000.00
174,690.00 217,350.00 262,710.00 311,040.00 362,340.00 378,000.00
30% 30% 30% 30% 30% 30%

81,522.00 101,430.00 122,598.00 145,152.00 169,092.00 176,400.00

14% 14% 14% 14% 14% 14%

106,027.13 131,919.38 159,450.38 188,784.00 219,920.25 229,425.00

24,747.75 30,791.25 37,217.25 44,064.00 51,331.50 53,550.00
15,285.38 19,018.13 22,987.13 27,216.00 31,704.75 33,075.00
23,097.90 28,738.50 34,736.10 41,126.40 47,909.40 49,980.00
119,662.65 148,884.75 179,956.35 213,062.40 248,202.90 258,930.00
21% 21% 21% 21% 21% 21%

27,372.60 29,222.10 31,071.60 33,106.05 35,140.50 10,727.10

 Unit Sales Prices 900 MXP
Sales discount 5%
Direct cost 35%
Indirect cost 16%
GA 10%
MKT 20%

Year 2020 2021 2022 2023

Incemental sales volume 85 183 288 399
Incremental gross Sales 76,320.00 164,880.00 259,200.00 359,280.00
MXP
Discounts 3,816.00 8,244.00 12,960.00 17,964.00
Net Sales 72,504.00 156,636.00 246,240.00 341,316.00

Direct Cost 26,712.00 57,708.00 90,720.00 125,748.00

Indirect Cost 12,211.20 26,380.80 41,472.00 57,484.80
Total Cost 38,923.20 84,088.80 132,192.00 183,232.80
As%of GS 51% 51% 51% 51%

Direct Profit Margin 33,580.80 72,547.20 114,048.00 158,083.20

As % of Gs 44% 44% 44% 44%

GA 7,632.00 16,488.00 25,920.00 35,928.00

MKT 15,264.00 32,976.00 51,840.00 71,856.00
Total Expense line 22,896.00 49,464.00 77,760.00 107,784.00
AS % of GS 30% 30% 30% 30%

Gains before Taxes 10,684.80 23,083.20 36,288.00 50,299.20

As % of Gs 14% 14% 14% 14%

Incremental WK
DSO 13,896.60 30,021.90 47,196.00 65,418.90
DPO 3,243.60 7,007.40 11,016.00 15,269.40
DIRM 2,003.40 4,328.10 6,804.00 9,431.10
DIFG 3,027.36 6,540.24 10,281.60 14,251.44
Working req 15,683.76 33,882.84 53,265.60 73,832.04
As % of Gs 21% 21% 21% 21%

Incremental WK 15,683.76 18,199.08 19,382.76 20,566.44

 DSO 69 Days
DPO 30 Days
DIRM 27 Days
DIFG 28 Days

2024 2025 2026 2027 2028 2029

518 644 778 922 1,074 1,120
465,840.00 579,600.00 700,560.00 829,440.00 966,240.00 1,008,000.00

23,292.00 28,980.00 35,028.00 41,472.00 48,312.00 50,400.00

442,548.00 550,620.00 665,532.00 787,968.00 917,928.00 957,600.00

163,044.00 202,860.00 245,196.00 290,304.00 338,184.00 352,800.00

74,534.40 92,736.00 112,089.60 132,710.40 154,598.40 161,280.00
237,578.40 295,596.00 357,285.60 423,014.40 492,782.40 514,080.00
51% 51% 51% 51% 51% 51%

204,969.60 255,024.00 308,246.40 364,953.60 425,145.60 443,520.00

44% 44% 44% 44% 44% 44%

46,584.00 57,960.00 70,056.00 82,944.00 96,624.00 100,800.00

93,168.00 115,920.00 140,112.00 165,888.00 193,248.00 201,600.00
139,752.00 173,880.00 210,168.00 248,832.00 289,872.00 302,400.00
30% 30% 30% 30% 30% 30%

65,217.60 81,144.00 98,078.40 116,121.60 135,273.60 141,120.00

14% 14% 14% 14% 14% 14%

84,821.70 105,535.50 127,560.30 151,027.20 175,936.20 183,540.00

19,798.20 24,633.00 29,773.80 35,251.20 41,065.20 42,840.00
12,228.30 15,214.50 18,389.70 21,772.80 25,363.80 26,460.00
18,478.32 22,990.80 27,788.88 32,901.12 38,327.52 39,984.00
95,730.12 119,107.80 143,965.08 170,449.92 198,562.32 207,144.00
21% 21% 21% 21% 21% 21%

21,898.08 23,377.68 24,857.28 26,484.84 28,112.40 8,581.68

Kd 15%
D/TI 40%
KC 13%
C/TI 60%
Income Tax 30%
WACC 12.00% REINVESTMENT RATE 7.76%

Cash Flow
Year 0 1 2 3 4
Investment -$150,000.00
Gains $13,356.00 $28,854.00 $45,360.00 $62,874.00
Depreciate -$15,000.00 -$15,000.00 -$15,000.00 -$15,000.00
NOPBT -$150,000.00 -$1,644.00 $13,854.00 $30,360.00 $47,874.00
Income Tax @ 30 % $0.00 $0.00 $4,156.20 $9,108.00 $14,362.20
NOPAT -$150,000.00 -$1,644.00 $9,697.80 $21,252.00 $33,511.80
Incremental WK -$19,604.70 -$22,748.85 -$24,228.45 -$25,708.05
Rescue Value

Cash Flow -$150,000.00 -$6,248.70 $1,948.95 $12,023.55 $22,803.75

Discounted CF -$150,000.00 -$5,579.20 $1,553.69 $8,558.13 $14,492.20
Accumulated Dis. CF -$150,000.00 -$155,579.20 -$154,025.51 -$145,467.38 -$130,975.18

NPV $37,543.42
RV NPV $ 83,368.53
Total NPV $120,911.95
IRR 15.42%
PI 1.24
DPB 9.0055326946
MIRR 13.30%

SCENARIO 1: +20%INVESTMENT
Year 0 1 2 3 4
Investment -$180,000.00
Gains $13,356.00 $28,854.00 $45,360.00 $62,874.00
Depreciate -$18,000.00 -$18,000.00 -$18,000.00 -$18,000.00
NOPBT -$180,000.00 -$4,644.00 $10,854.00 $27,360.00 $44,874.00
Income Tax @ 30 % $0.00 $0.00 $3,256.20 $8,208.00 $13,462.20
NOPAT -$180,000.00 -$4,644.00 $7,597.80 $19,152.00 $31,411.80
Incremental WK -$19,604.70 -$22,748.85 -$24,228.45 -$25,708.05
Rescue Value

Cash Flow -$180,000.00 -$6,248.70 $2,848.95 $12,923.55 $23,703.75

Discounted CF -$180,000.00 -$5,579.20 $2,271.17 $9,198.73 $15,064.16
Accumulated Dis. CF -$180,000.00 -$185,579.20 -$183,308.03 -$174,109.30 -$159,045.14

NPV $11,825.05
RV NPV $ 83,368.53
Total NPV $95,193.58
IRR 12.96%
PI 1.06
DPB 9.69
MIRR 11.55%

SCENARIO 1: +20%INVESTMENT
Year 0 1 2 3 4
Investment -$150,000.00
Gains 10,684.80 23,083.20 36,288.00 50,299.20
Depreciate -$15,000.00 -$15,000.00 -$15,000.00 -$15,000.00
NOPBT -$150,000.00 -$4,315.20 $8,083.20 $21,288.00 $35,299.20
Income Tax @ 30 % $0.00 $0.00 $2,424.96 $6,386.40 $10,589.76
NOPAT -$150,000.00 -$4,315.20 $5,658.24 $14,901.60 $24,709.44
Incremental WK 15,683.76 18,199.08 19,382.76 20,566.44
Rescue Value

Cash Flow -$150,000.00 $26,368.56 $38,857.32 $49,284.36 $60,275.88

Discounted CF -$150,000.00 $23,543.36 $30,976.82 $35,079.63 $38,306.41
Accumulated Dis. CF -$150,000.00 -$126,456.64 -$95,479.83 -$60,400.19 -$22,093.78

NPV $233,294.81
RV NPV -$ 66,694.82
Total NPV $166,599.98
IRR 34.07%
PI 2.56
DPB 4.54
MIRR 21.14%
 5 6 7 8 9 10

$81,522.00 $101,430.00 $122,598.00 $145,152.00 $169,092.00 $176,400.00

-$15,000.00 -$15,000.00 -$15,000.00 -$15,000.00 -$15,000.00 -$15,000.00
$66,522.00 $86,430.00 $107,598.00 $130,152.00 $154,092.00 $161,400.00
$19,956.60 $25,929.00 $32,279.40 $39,045.60 $46,227.60 $48,420.00
$46,565.40 $60,501.00 $75,318.60 $91,106.40 $107,864.40 $112,980.00
-$27,372.60 -$29,222.10 -$31,071.60 -$33,106.05 -$35,140.50 -$10,727.10
$258,930.00

$34,192.80 $46,278.90 $59,247.00 $73,000.35 $87,723.90 $117,252.90

$19,401.91 $23,446.33 $26,800.33 $29,483.62 $31,634.12 $37,752.30
-$111,573.27 -$88,126.94 -$61,326.61 -$31,842.99 -$208.87 $37,543.42

5 6 7 8 9 10

$81,522.00 $101,430.00 $122,598.00 $145,152.00 $169,092.00 $176,400.00

-$18,000.00 -$18,000.00 -$18,000.00 -$18,000.00 -$18,000.00 -$18,000.00
$63,522.00 $83,430.00 $104,598.00 $127,152.00 $151,092.00 $158,400.00
$19,056.60 $25,029.00 $31,379.40 $38,145.60 $45,327.60 $47,520.00
$44,465.40 $58,401.00 $73,218.60 $89,006.40 $105,764.40 $110,880.00
-$27,372.60 -$29,222.10 -$31,071.60 -$33,106.05 -$35,140.50 -$10,727.10
 $258,930.00

$35,092.80 $47,178.90 $60,147.00 $73,900.35 $88,623.90 $118,152.90

$19,912.60 $23,902.30 $27,207.45 $29,847.11 $31,958.67 $38,042.07
-$139,132.54 -$115,230.25 -$88,022.80 -$58,175.69 -$26,217.02 $11,825.05

5 6 7 8 9 10

65,217.60 81,144.00 98,078.40 116,121.60 135,273.60 141,120.00

-$15,000.00 -$15,000.00 -$15,000.00 -$15,000.00 -$15,000.00 -$15,000.00
$50,217.60 $66,144.00 $83,078.40 $101,121.60 $120,273.60 $126,120.00
$15,065.28 $19,843.20 $24,923.52 $30,336.48 $36,082.08 $37,836.00
$35,152.32 $46,300.80 $58,154.88 $70,785.12 $84,191.52 $88,284.00
21,898.08 23,377.68 24,857.28 26,484.84 28,112.40 8,581.68
-$207,144.00

$72,050.40 $84,678.48 $98,012.16 $112,269.96 $127,303.92 $111,865.68

$40,883.33 $42,900.75 $44,335.72 $45,343.95 $45,907.07 $36,017.76
$18,789.55 $61,690.31 $106,026.03 $151,369.98 $197,277.05 $233,294.81