Tugas Manajemen Keuangan

Week 5

Kelompok 6:
1. Dedy Burju J Siagian (222110056)
2. David Homonangan Simbolon (222110058)
3. Yoga Friyadi (222110074)

Soal:

Year Project A Pembuktian Project B Pembuktian

0 (7,300.00) (7,300.00) (4,390.00) (4,390.00)
1 3,940.00 3,332.17 2,170.00 1,818.80
2 3,450.00 2,467.64 2,210.00 1,552.55
3 2,480.00 1,500.19 1,730.00 1,018.65
- -

IRR dengan rumus excel

IRR Project A 18%
IRR Project B 19%

Metode trial error (dengan rumus Goal seek)

Year Project A 18% Project B 19% -->dicari dengan goal seek
0 (7,300.00) (7,300.00) (4,390.00) (4,390.00)
1 3,940.00 3,332.17 2,170.00 1,818.80
2 3,450.00 2,467.64 2,210.00 1,552.55
3 2,480.00 1,500.19 1,730.00 1,018.65
0.00 0.00 --> dibuat hasilnya "Nol" dengan
rumus Goal seek (trial error)
IRR Project A 18%
IRR Project B 19%

Metode interpolasi ipositve dan i negative (trial error tanpa goal seek)
C D
Year Project A 20% 18% Pembuktian
0 (7,300.00) (7,300.00) (7,300.00) (7,300.00)
1 3,940.00 3,283.33 3,330.52 3,332.21
2 3,450.00 2,395.83 2,465.19 2,467.70
3 2,480.00 1,435.19 1,497.95 1,500.24
(185.65) (6.35) 0.15 --> tidak bisa nol persis, karena Cuma pakai 1 angka dibelakang koma
A B

NPV 2-NPV1 179.30 E=B-A

-0.035406675 F=B/C
(I pos) - (i neg) 2% G=C-D
-0.000601913 H=G*F
IRR project A 18.240% i=D+H
CTRL 0.001%

C D
Year Project B 20% 18% Pembuktian
0 (4,390.00) (4,390.00) (4,390.00) (4,390.00)
1 2,170.00 1,808.33 1,834.32 1,818.66
2 2,210.00 1,534.72 1,579.15 1,552.31
3 1,730.00 1,001.16 1,044.94 1,018.41
(45.79) 68.41 (0.62) --> gak bisa nol persis, karena Cuma pakai 1 angka dibelakang koma
A B
 NPV 2-NPV1 114.20 E=B-A
0.599047347 F=B/C
(I pos) - (i neg) 2% G=C-D
0.010183805 H=G*F
IRR project A 19.318% i=D+H
CTRL 0.01%

Soal:

DR/RRR 14%
BAHAMAS RECREATION CORP
PROJECT Deepwater New Submarine
Year Cash flows ($) Cash flows ($) Incremental NPV Deep NPV Submarine NPV Incremental
0 (725,000.00) (1,450,000.00) (725,000.00) (725,000.00) (1,450,000.00) (725,000.00)
1 270,000.00 820,000.00 550,000.00 236,842.11 719,298.25 482,456.14
2 420,000.00 650,000.00 230,000.00 323,176.36 500,153.89 176,977.53
3 380,000.00 540,000.00 160,000.00 256,489.18 364,484.62 107,995.44
IRR 20.96% 19.87%

IRR 18% --> Higher than DR/RRR

NPV Deep 91,507.64

NPV Sub Marine 133,936.76

NPV Incremental 42,429.11 -->positive

Jawaban:
a. If the decision rule is to accept the project with greater IRR, we should choose Deepwater project
b. Incremental IRR is made for scenario choosing Sub Marine instead of Deep water.
Since rate for Incremental investment from making sub marine instead of deepwater is higher than DR/RRR, we should choose New
Submarine project
c. Based on NPV, we should choose New Submarine project, which inline with decision based on incremental IRR