LEMBAR JAWABAN

P10-2 Payback Comparisons

Maximum acceptable payback period = … years

 1st machine (IntelWash)  2nd machine (KwikWash)

Initial Investment = $........... Initial Investment = $..........
Annual after-tax cash inflows = Annual after-tax cash inflows =
$.......... $..........

a. Payback Period
Initial Investment
PP =
Operatingcash ∈flow

 PP for IntelWash
$ ……….
PP =
$ ……….
PP = … years ≈ … + (… x 12 bulan)
≈ … years; … months
≈ … years; … months; (… x 30) days
≈ … years … months … days
 PP for KwikWash
$ ……….
PP =
$ ……….
PP = … years ≈ … + (… x 12 bulan)
≈ … years; … months
≈ … years; … months; (… x 30) days
≈ … years … months … days
b.
c.
d.

P10-27 Integrative: Conflicting Rankings The High-Flying Growth Company (HFGC)

Annual rate of return on the stock = …%

a.
 NPV
 Plant Expansion
Initial Investment = $..........

Year Cash Flow (CF) *PVIF PVCIF

1 $............... $...............
2
3
4
ΣPVCIF = $...............

1
*PVIFr,n =
( 1+ r )n
NPV of Plant Expansion = $........... - $..........
 = $...........
 Product Introduction
Initial Investment = $..........

Year Cash Flow (CF) *PVIF PVCIF

1 $............. $.............
2
3
4
ΣPVCIF = $.............
NPV of Product Introduction = $.......... - $..........
= $..........
 IRR (perhitungan excel dengan nilai TCF = 0)

Formula =IRR(block CF tahun 0 s/d tahun terakhir;TCF)

 IRR Plant Expansion = 44%
 IRR Product Introduction = 52%
Ps: cara manual menghitung IRR (tanpa excel) harus menggunakan trial and error.

 PI
ΣPVCIF
PI =
II

 Plant Expansion  Product Introduction

$…… … $ ……….
PI = = … kali PI = = … kali
$ ………. $ ……….

b.

Rankings
Project NPV IRR PI
Plant Expansion
Product Introduction
c.
d.