BV NV MV TMV

equity 15 1 6.1 91.5

prefrerenc 6 0.75 0.64 5.12
Bank 5 1 1 5
loan 8 100 103.5 8.28

109.9

WACC
 cost of Equity

RF 3.50%
RP 6.80%
Beta 1.25

KE 12.00%

KP
D 0.045
Marketpric 0.64

KP 7.03%
KP loan no 7.44%
Kp bank lo 7.44%
cost loan note
DF PV
5% 10% 5% 10%
L H
0 MV -103.5 1 1 -103.5 -103.5
1-5 Interest 6.4 4.329 3.791 27.7056 24.2624
5 redeempti 110 0.784 0.621 86.24 68.31

10.4456 -10.9276
Cost% TMV*cost NL NH
12.00% 10.98 0.099909
7.03% 0.36 0.003276 IRR 7.44%
7.44% 0.372181 0.003387
7.44% 0.616332 0.005608

12.32851

11.22% 11.22%
 Working

W1

W2

w3

W4

Calculating

B
 1 2 3 4
Sale price 125 130 140 120
inflated sell price 1.05 131.25 143.325 162.0675 145.86075
vloume 300 410 525 220
Total selling inflated 39375 58763 85085 32089

VC 71 71 71 71
VC inflated 1.035 73.485 76.056975 78.71896913 81.47413304
vloume 300 410 525 220
Total VC 22,045.5 31,183.4 41,327.5 17,924.3

FC 3000 3100 3200 3000

FC inflated 1.06 3,180 3,483 3,811 3,787

1 2 3 4
Tax benefit
TWV 20000 15,000 11,250 8,438
TAD 5,000 3,750 2,813 8,438
TAD bene 1,300 975 731 2,194

NPV
0 1 2 3 4
Taxable cash Flow 14,150 24,097 39,947 10,378
Taxable payable - 3,679 - 6,265 - 10,386 - 2,698
TAD benefit 1,300 975 731 2,194
initial investment -20000

Cash after tax -20000 11770.63 18806.58039 30291.82836 9873.192389

DF 1 0.893 0.797 0.712 0.636
PV -20000 10,511 14,989 21,568 6,279

NPV 33,347
1 2 3 4
Nominal cash flow 14150 24097 39947 10378
Real cash flow 1.037 13,645 22,408 35,822 8,974
Taxable payable - 3,548 - 5,826 - 9,314 - 2,333
TAD benefit 1,300 975 731 2,194
initial investment -20000

Cash after tax -20000 11,397 17,557 27,239 8,834

DF 1 0.926 0.857 0.794 0.735
PV -20000 10,554 15,046 21,628 6,493

NPV 33,721
0.892857
W1- After tax interest 6%
0 1 2
Buy purchase -750000
maintenance cost -23000 -23000
maintenace tax 6900
TAD benefit 56,250
Residual value
Cash flow after tax -750000 -23000 40150
DF @ 1 0.943 0.89
PV -750000 -21689 35733.5
NPV - 597,278

W1 TAD 1
RV 50000
TWV 750000 562,500
TAD 187,500
TAD benefit

0 1 2
Lease -200000 -200000 -200000
TAX BENEFIT LEASE 60000

Cash flow after tax -200000 -200000 -140000

DF @ 1 0.943 0.89
PV -200000 -188600 -124600
NPV LEASE - 538,460
 3 4 5

-23000 -23000
6900 6900 6900
42,188 31,641 79,922
50000
26087.5 65540.625 86821.88
0.84 0.792 0.747
21913.5 51908.175 64855.94

2 3 4 5

421,875 316,406
140,625 105,469 266,406
56,250 42,188 31,641 79,922

3 4 5
-200000
60000 60000 60000

-140000 60000 60000

0.84 0.792 0.747
-117600 47520 44820
 1 0.995
0.07
0.93

125000 13.93
62500 14

105000
 Annual 1500000
Holding 0.21
ORDER 252
Annual 125000 1500000

Hodling 13125
order cost 3024

Total currren 16149

Q2 E0q (2XD*o/H)^0.5 60000

Holding 6300
order cost 6300

Total EOQ cost 12600

Current 16149
Reduction inventory cost 3549

reduction avergae inventory 455000

finance cost saving 13650

overal saving 17199

bulk discount
order Q 250000

Holding cost 26250 26250

Order cost 1512 1512
1741250 Total bulk cost 27762
875000 current 16149
866250 increase cost -11613

Average inventory -866250

67,400 finance cost - 25,988

Bulk discounr 105000

overall saving 67,400

Asset
NCA 60017700

CA W1 incresae sale
inventory 4,394,116
Trade receivable 15,978,603 W2 cost of sale
cash 700000

Total Asset 81090418

Trade payacurrent
revised
Equity and liablilties reduction Trade paya
Equity 6,000,000
Reserve 40,818,000
Total Equity 46,818,000 CR current
revised
NCL 26,000,000
Trade payable 5,272,939 increase CR
Overdraft 3,000,000
Total Equity and liabilities 81,090,939
revenue necurrent
revised
decrase

debt Equity # $
PAT 16.56 16.56 exist share 70 2.6
additional operation p 4.5 4.5 right issue 14 1.82
financ cost -1.5288
taxation -0.59424 -0.9 84
PAT 18.93696 20.16
number share 70 84 TERP
EPS 0.27 0.24
PE ratio 11 11
Share price 2.98 2.64 TREP 2.47
Capital Gain 0.38 0.17 Right isse 1.82
Value of pe 0.65

value of rih 0.13

W1 incresae sale 95,871,616.00

W2 cost of sale 31,637,633.28

126
60
66

1.30
2.55

1.25

12
6.35
5.83

T
182
25.48

207.48

2.47

70 5
14 1