Transporting fee growth rate 6%

Margin tax rate 15%

freight costs per year 12,000,000
PMT 0%

- 1 2
Trucking fees $ 12,000,000 - 12,720,000 - 13,483,200
Tax Deduction 1,908,000 2,022,480
Net cost after tax - 10,812,000 - 11,460,720
 3 4 5 6 7
- 14,292,192 - 15,149,724 - 16,058,707 - 17,022,229 - 18,043,563
2,143,829 2,272,459 2,408,806 2,553,334 2,706,534
- 12,148,363 - 12,877,265 - 13,649,901 - 14,468,895 - 15,337,029
Operating Costs for year 1 - truck Loan/Depreciation Info
trucks 20 loan value $ 2,250,000
cost/mile $ 3.80 rate/yr 4.75%
miles/truck-yr 150,000 periods/yr 4
cost/truck $125,000 #years loan 4
down payment 10% salvage % 8%
operating cost growth
rate 3.5% depr. Life 7
marginal tax rate 15% Asset value 2,500,000

Trucking fees 0 1 2 3 4
Purchase of Trucks -2500000
Operating Cost $ -11,400,000 $ -11,799,000 -12211965 - 12,639,384
Interest of Loan - 97,645 - 72,342 - 45,815 - 18,006
SLN Depreciation - 328,571 - 328,571 - 328,571 - 328,571
Trucking Cost - 11,826,217 - 12,199,913 - 12,586,352 - 12,985,961

Tax Deduction not taxable 1,773,933 1,829,987 1,887,953 1,947,894

Net Costs after Taxes -2500000 - 10,052,284 - 10,369,926 - 10,698,399 - 11,038,067
 5 6 7

- 13,081,762 - 13,539,624 -14013511

- 328,571 - 328,571 - 328,571

- 13,410,334 - 13,868,195 - 14,342,082

2,011,550 2,080,229 2,151,312

- 11,398,784 - 11,787,966 - 12,190,770
Operating Costs for year 1 - truck
# trucks 20
signup fee/truck $ 10,000
least cost/truck-yr $ 35,000
miles/truck-yr 150,000
$/mi Rp 3.70

operating cost growth rate 3.5%

marginal tax rate 15%

Years:
Trucking Fees 0 1 2 3
Operating cost (11,100,000) (11,488,500) (11,890,598)
Annual Lease Fee (700,000) (700,000) (700,000)

Lease Initiation Fee (200,000)

Subtotal trucking (200,000) (11,800,000) (12,188,500) (12,590,598)

tax deduction $30,000 $1,770,000 $1,828,275 $1,888,590

Net Costs after Taxes (170,000) (10,030,000) (10,360,225) (10,702,008)

 4 5 6 7
(12,306,768) (12,737,505) (13,183,318) (13,644,734)
(700,000) (700,000) (700,000) (700,000)

(13,006,768) (13,437,505) (13,883,318) (14,344,734)

$1,951,015 $2,015,626 $2,082,498 $2,151,710

(11,055,753) (11,421,880) (11,800,820) (12,193,024)

Net Costs after Taxes: Year 0 Year 1 Year 2 Year 3
Trucking by others $0 ($10,812,000) ($11,460,720) ($12,148,363)
Purchasing (2,500,000) (10,052,284) (10,369,926) (10,698,399)
Leasing (170,000) (10,030,000) (10,360,225) (10,702,008)

Cost Savings
Comparisons Year 0 Year 1 Year 2 Year 3
Trucking by others vs.
Purchasing (2,500,000) 759,716 1,090,794 1,449,964
Trucking by others vs.
Leasing (170,000) 782,000 1,100,495 1,446,355

Net Present Values

Savings:
Purchase vs.
Trucking by Savings: Leasing vs.
others Trucking by others
8% 6,698,839 9,016,790
9% 6,320,393 8,639,777
10% 5,963,319 8,284,050
11% 5,626,164 7,948,160
12% 5,307,586 11,272,500
13% 5,006,346 13,598,453
14% 4,721,303 15,098,944
15% 4,451,400 15,937,403
16% 4,195,660 16,875,197
17% 3,953,181 17,568,220
18% 3,723,123 17,884,664

Savings from Purchase

IRR 50% 498%
ROI 529%
Payback 2
 Year 4 Year 5 Year 6 Year 7
($12,877,265) ($13,649,901) ($14,468,895) ($15,337,029)
(11,038,067) (11,398,784) (11,787,966) (12,190,770)
(11,055,753) (11,421,880) (11,800,820) (12,193,024)

Year 4 Year 5 Year 6 Year 7

1,839,198 2,251,117 2,680,929 3,146,259

1,821,512 2,228,021 2,668,075 3,144,005

Selection:
Leasing memiliki nilai NPV terbaik
semua positif dan nilai IRR tinggi