Professional Documents
Culture Documents
20% (a)-(b)
1 200,000 40,000 40,000 160,000
2 160,000 32,000 72,000 128,000
3 128,000 25,600 97,600 102,400
4 102,400 20,480 118,080 81,920
5 81,920 81,920 200,000 0
Variable
Sales Revenues Fixed Costs Dep. 20% EBT
Costs
20,556 25 5 350,000
0
1 20,556 513,910 102,782 350,000 40,000 21,128
2 20,556 513,910 102,782 350,000 32,000 29,128
3 20,556 513,910 102,782 350,000 25,600 35,528
4 20,556 513,910 102,782 350,000 20,480 40,648
5 20,556 513,910 102,782 350,000 81,920 -20,792
Net income Depreciation OCF Investment Net Cash flow PV Cash flow
25%
5,282 15,846
7,282 21,846
8,882 26,646
10,162 30,486
-5,198 -15,594
12%