calc - Calendar Year 2,001 2,002 Event Year 1 2 Age of Ship...

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Calendar Year 2,001 2,002 Event Year 1 2 Age of Ship Capital Investment -3,900 -3,900 Depreciation Accumulated depreciation Year-end book value of the ship Working capital Change in working capital Capital expenditure for special survey Depreciation survey Accumulated capital expenditure Expected daily hire rate Expected daily operating cost Maintenance days Operating revenue Nominal operating costs EBITDA Pre-tax earnings (EBIT) Tax expense USA Tax expense Hong Kong After-tax earnings USA After-tax earnings Hong Kong USA Capital investment (ship&survey) -3,900 -3,900 Change in working capital Operating revenue Operating cost Capital expenditure -3,900 -3,900 Tax expense Operating cash flow Net cash flow 25 years -3,900.00 -3,900.00 Present value (9%) 25 years -3,900.00 -3,577.98 Net present value (NPV) 25 years -4,849.53 Internal rate of return (IRR) Hong Kong Change in working capital Operating revenue
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Operating cost Capital expenditure -3,900 -3,900 Tax expense 0 0 Operating cash flow 0 0 Net cash flow 25 years -3,900.00 -3,900.00 Present value (9%) 25 years -3,900.00 -3,577.98 Net present value (NPV) 25 years 3,481.20 Internal rate of return (IRR) Assumptions Inflation: 0.03 Growth operating cost 0.01 Nominal Interest rate 0.09
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2,003 2,004 2,005 2,006 2,007 2,008 3 4 5 6 7 8 1 2 3 4 5 6 -31,200 -1,560 -1,560 -1,560 -1,560 -1,560 -1,560 -1,560 -3,120 -4,680 -6,240 -7,800 -9,360 37,440 35,880 34,320 32,760 31,200 29,640 500 515 530.45 546.36 562.75 579.64 500 15 15.45 15.91 16.39 16.88 -300 -60 -60 -300 20 20.2 20.4 18.714 17.283 17.481 -4 -4.16 -4.33 -4.5 -4.68 -4.87 8 8 8 8 8 12 7,140.00 7,211.40 7,282.80 6,680.90 6,170.03 6,170.79 -1,460.00 -1,518.40 -1,579.14 -1,642.30 -1,707.99 -1,776.31 5,680.00 5,693.00 5,703.66 5,038.60 4,462.04 4,394.48 4,120.00
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