Kb INT MV PV n Slide 13 Kb INT+[(MV-PV)/n

(MV+PV)/2
Kd

Slide 17 Kp Dp/Pn

Slide 29
a 1 INT+[(MV-PV)/n
(MV+PV)/2

2 Dp/Pn

3 D1+g/P0(1-F)
g=4%

b
19.38% 24%
15.69% 29%
14.58% 47%

35%
9% 15%
15% 50%
 1.000.000+[(25.000.000-24.250.000)/5] 1150000 0.046701 4.67%
(25.000.000+24.250.000)/2 24625000
Kb(1-tax)=0,0467(1-0,30) 0.03269 3.27%

(1000)/(10000-20) 10.02%

4000000+[(20000000-19000000)/5] 4200000 0.215385 21.54%

(20000000+19000000)/2 19500000
kb(1-tax)=0,215385(1-0,10) 19.38%

3750/(24000-100) 15.69%

1000/(9500-50) 10.58%
14.58%

4.65%
4.55%
6.85%
16.05%
0.00%
1.35%
7.50%