作者betterman (QQ)
看板CFAiafeFSA
標題Re: [問題]請問CFA L1 book5 Alternative Investment
時間Tue Nov 6 15:51:04 2007
我用dx大的方法
求算第三年的
沒有辦法得到38721耶
我求到的是38714
可否請dx大再把第三年的po出來
※ 引述《dxgini ()》之銘言：
: ※ 引述《wenting2 (要加油了!)》之銘言：
: : 請問在Schxxser牌參考書中, book 5的 pg.207中間偏下
: : 有NPV的3個Cash Flow:
: : year 0: -$370,000
: : year 1: $39,243 -> After tax cash flow有算出來
: : year 2: $38,991
: : year 3: $538,721
: : CPT-> IRR = 20.18%
: : 請問: y2: $38,991 y3: $538,721是怎麼算出來的呢?
: : 謝謝大家指點~
: Y2 Interest
: = (borrowed amount remaining-Y1 principal)*r
: = (1,480,000-8,779)*0.1
: = 147,100
: Y2 After-tax net income
: = (NOI-depreciation-interest)*(1-tax rate)
: = (197,500-45,000-147,100)*0.72
: = 3,888
: Y2 Principal payment
: = annual payment-interest
: = 156,997-147,100
: = 9,897
: Y2 after-tax cash flow
: = after-tax net income+depreciation-principal payment
: = 3,888+45,000-9,897
: = 38,991
: 依此類推求出Y3=38,721
: Y3 after-tax cash flow
: =1,950,000-1,450,000+38,721
: =538,721
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