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1、c26PlanningForCapitalInvestments.inddPage129010/8/1112:10PMuser-F409/Users/user-F409/DesktopPlanningforCapitalChapter26InvestmentsFeatureStoryFloatingHotelsnumbers,butkeepinmindthatCarnivalestimatesthatatanygivenDoyouownaboat?Maybeitsanicetimethereare270,000peopleboat,buthowman
2、yswimming(200,000customersand70,000crew)pools,movietheaters,shoppingononeofits100shipssomewhereinmalls,orrestaurantsdoesithaveontheworld.board?Ifyouareinthecruise-lineThecruiseindustryisatrickybusiness.business,likeHollandAmericaLine,Whentimesaregood,customersyouneedallofthesea
3、menitiesandarelookingforwaystosplurge.morejusttostayafloat.HollandButwhentimesgettough,peopleAmericaLineisconsideredbymanyaremoreinclinedtotakeatripinatobetheleaderofthepremiumminivanthanaluxuryyacht.Soluxury-linersegment.timingyourinvestmentproperlyisCarnivalCorporation,whichow
4、nsimportant.Forexample,duringoneHollandAmericaLineandothercruisestretchofsolidglobaleconomiclines,isoneofthelargestvacationgrowth,manycruiselinesdecidedcompaniesintheworld.Duringonetoaddcapacity.Theindustrybuiltrecentthree-yearperiod,Carnival14newshipsatatotalpriceofspentmoreth
5、an$3billionperyearon$4.7billion.(Thatsanaveragepricecapitalexpenditures.Thosearebigofabout$330million.)But,ittakes✔TheNavigatorLearningObjectivesScanLearningObjectivesAfterstudyingthischapter,youshouldbeableto:ReadFeatureStory1Discusscapitalbudgetingevaluation,andexplaininputsu
6、sedincapitalbudgeting.ReadPreview2Describethecashpaybacktechnique.ReadTextandanswerDOIT!p.12953Explainthenetpresentvaluemethod.p.1299p.1307p.13094IdentifythechallengespresentedbyintangiblebenefitsinWorkComprehensiveDOIT!p.1310capitalbudgeting.ReviewSummaryofLearningObjectives5De
7、scribetheprofitabilityindex.AnswerSelf-TestQuestions6Indicatethebenefitsofperformingapost-audit.7Explaintheinternalrateofreturnmethod.CompleteAssignments8Describetheannualrateofreturnmethod.GotoWileyPLUSforpracticeandtutorials✔TheNavigator1290c26PlanningForCapitalInvestments.indd
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