资源描述：
《亨格瑞管理会计英文第15版答案11》由会员上传分享，免费在线阅读，更多相关内容在工程资料-天天文库。
1、亨格瑞管理会计英文第15版答案11CHAPTERllCapitalBudgetin；1.；Thepresentvalueis$480,00(a)$480,000=annualpaymen；annualpayment=$480,0004-1annualpaymcnt=$480,0004-9；annualpayment=$480,0004-8armualpaymcnt二$480,0004-8；anCHAPTER11CapitalBudgeting1.Thepresentvalueis$480,000andtheannualpaymentsa
2、reanannuity,requiringuseofTable2:(a)$480,000=annualpaymentX11.2578annualpayment二$480,0004-11.2578二$42,637(b)$480,000二annualpaymentX9.42699.4269=$50,918(c)$480,000=annual8.0552二$59,589(a)$480,000=annual8.5595二$56,078(b)$480,000=annual7.6061=$63,107(c)$480,000二annualannual
3、payment=$480,000paymentX8.0552annualpayment二$480,000paymentX8.5595annualpayment=$480,000paymentX7.6061annualpayment=$480,000paymentX6.8109annualpayment=$480,0004-6.8109=$70,475(a)Totalpayments=30X$50,918=$1,527,540Totalinterestpaid=$1,527,540-$480,000=$1,047,5402.3.(b)To
4、talpayments二15X$63,107=$946,605Totalinterestpaid二$946,605一$480,000=$466,605min.)Buy.Thenetpresentvalueispositive.Initialoutlay*Presentvalueofcashoperatingsavings,from12-year,12%columnofTable2,6.1944X$5,000Netpresentvalue$(21,000)*Thetrade-inallowancereallyconsistsofa$5,0
5、00adjustmentoftheseilingpriceandabonafide$10,000cashalIowaneofortheoldequipment・Therelevantamountistheincrementalcashoutlay,$21,000.Thebookvalueisirrelevant・min.)Copyright?2011PearsonEducation11.NPV@10%=10,000X3.7908=$37,908-$36,048=$1,860NPV@12%=10,000X3.6048=$36,048-$3
6、6,048=$0NPV@14%=10,000X3.4331=$34,331-$36,048=$(1,717)TheIRRistheinterestrateatwhichNPV二$0;therefore,fromrequirement1weknowthatIRR二12%・TheNPVatthecompany?scostofcapital,10%,ispositive,sotheprojectshouldbeaccepted・TheTRR(12%)isgreaterthanthecompany'scostofcapital(10%),sot
7、heprojectshouldbeaccepted・NotethattheIRRandNPVmodelsgivethesamedecision.2.3.4.min.)Paybackperiodis$36,000$10,000=3.6years・Itisnotagoodmeasureofprofitabi1itybecauseitignoresreturnsbeyondthepaybackperiodanditdoesnotaccountforthetimevalueofmoney.NPV=$5,114.Accepttheproposal
8、becauseNPVispositive・Computation:NPV二($10,000X4.1114)-$36,000=$41,114一$36,000=$5,1142.3.ARR二(Increasein
