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Computer_lab_5 - A 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17...

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(in thousands of $) 2008 2009 2010 2011 2012 2013 2014 2015 0 1 2 3 4 5 6 7 Assumptions Tax Rate 0 30.0% 30.0% 30.0% 30.0% 30.0% 30.0% 30.0% MACRS 10-year 10.0% 18.0% 14.4% 11.5% 9.2% 7.4% 6.6% WACC 9.3% Resale value of PPE $0 Balance Sheet Items Net Working Capital $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $0 Net PPE $20,000 $18,000 $14,400 $11,520 $9,216 $7,372 $5,898 $4,588 Cash Flow Forecasts Sales Revenue $22,000 $22,000 $22,000 $22,000 $22,000 $22,000 $22,000 Operating Expense $18,000 $18,000 $18,000 $18,000 $18,000 $18,000 $18,000 Depreciation $0 $2,000 $3,600 $2,880 $2,304 $1,844 $1,474 $1,310 Operating Profit (EBIT) $2,000 $400 $1,120 $1,696 $2,156 $2,526 $2,690 Taxes $600 $120 $336 $509 $647 $758 $807 Net Profit (EBIT(1-t)) $0 $1,400 $280 $784 $1,187 $1,509 $1,768 $1,883 Investment in PPE (CAPX) $20,000 Sale of PPE (Terminal value) $1,376.40 Investment in Working Capital (ΔNWC) $5,000 $0 $0 $0 $0 $0 $0 ($5,000) Cash Flows ($25,000) $3,400 $3,880 $3,664 $3,491 $3,353 $3,242 $9,569 Net Present Value ($4,203) A B C D E F G H I 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42
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(in thousands of $) 2008 2009 2010 2011 2012 2013 2014 2015 0 1 2 3 4 5 6 7 Assumptions Tax Rate 35.0% 35.0% 35.0% 35.0% 35.0% 35.0% 35.0% MACRS percentages 14.3% 24.5% 17.5% 12.5% 8.9% 8.9% 8.9% WACC 11.5% Resale value of PPE Net Working Capital $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 Net PPE $100,000 $85,710 $61,220 $43,730 $31,240 $22,310 $13,380 $4,450 Cash Flow Forecasts Sales Revenue $70,000 $75,000 $80,000 $85,000 $90,000 $95,000 $100,000 Operating Expense $49,000 $52,500 $56,000 $59,500 $63,000 $66,500 $70,000 Depreciation $14,290 $24,490 $17,490 $12,490 $8,930 $8,930 $8,930 Operating Profit (EBIT) $6,710 ($1,990) $6,510 $13,010 $18,070 $19,570 $21,070 Taxes $2,349
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