公司理财第九版课后案例ConchRepublicElectronics.docVIP

下载本文档

457
0
约7.94千字
约 7页
2017-08-22 发布于重庆
举报
版权申诉

公司理财第九版课后案例ConchRepublicElectronics.doc

1、本文档共7页，可阅读全部内容。
2、原创力文档（book118）网站文档一经付费（服务费），不意味着购买了该文档的版权，仅供个人/单位学习、研究之用，不得用于商业用途，未经授权，严禁复制、发行、汇编、翻译或者网络传播等，侵权必究。
3、本站所有内容均由合作方或网友上传，本站不对文档的完整性、权威性及其观点立场正确性做任何保证或承诺！文档内容仅供研究参考，付费前请自行鉴别。如您付费，意味着您自己接受本站规则且自行承担风险，本站不退款、不进行额外附加服务；查看《如何避免下载的几个坑》。如果您已付费下载过本站文档，您可以点击这里二次下载。
4、如文档侵犯商业秘密、侵犯著作权、侵犯人身权等，请点击“版权申诉”（推荐），也可以打举报电话：400-050-0827(电话支持时间：9:00-18:30)。
5、该文档为VIP文档，如果想要下载，成为VIP会员后，下载免费。
6、成为VIP后，下载本文档将扣除1次下载权益。下载后，不支持退款、换文档。如有疑问请联系我们。
7、成为VIP后，您将拥有八大权益，权益包括：VIP文档下载权益、阅读免打扰、文档格式转换、高级专利检索、专属身份标志、高级客服、多端互通、版权登记。
8、VIP文档为合作方或网友上传，每下载1次，网站将根据用户上传文档的质量评分、类型等，对文档贡献者给予高额补贴、流量扶持。如果你也想贡献VIP文档。上传文档

公司理财第九版课后案例ConchRepublicElectronics.doc

Conch Republic Electronics Analysis Analysis of Conch Republic Electronics Develop a prototype $750000 Sunk cost Market study $200000 The new PDA: Variable cost per unit $155 Fixed cost per year $4700000 Price of per unit $360 Necessary equipment Depreciation Seven-year MACRS Salvage value $4100000 Tax rate 35% Required return 12% Year MACRS Percentage Depreciation Sales volume 1 14.29% $3,072,350 74000 2 24.49% $5,265,350 95000 3 17.49% $3,760,350 125000 4 12.49% $2,685,350 105000 5 8.93% $1,919,950 80000 The existing model: Price per unit $290 Variable cost per unit $120 Fixed cost per year $1800000 Sales volume of fall by per year 15000 Price be lowered of per unit $255 Sales volume for year 1 80000 Sales volume for year 2 60000 There is no initial outlay for NWC; and Net Working Capital for the PDAs will be 20% of sales. The value of the equipment in five years will be $4.1 million. Introducing the new PDA, it causes the exiting PDA sales fall down and the price fall down. Therefore: sales for year 1=74000*$360-15000*$290-(80000-15000)*($290-$255) =Variable cost for year 1=74000*$155-15000*$120=$9670000 Sales for year 2=95000*$360-15000*$290-(60000-15000)*($290-$255) =Variable cost for year 2=95000*$155-15000*$120=Year 1 2 3 4 5 Sales $20,015,000 $28,275,000 $45,000,000 $37,800,000 $28,800,000 Variable cost $9,670,000 $12,925,000 $19,375,000 $16,275,000 $12,400,000 Fixed cost $4,700,000 $4,700,000 $4,700,000 $4,700,000 $4,700,000 Total cost $14,370,000 $17,625,000 $24,075,000 $20,975,000 $17,100,000 Depreciation $3,072,350 $5,265,350 $3,760,350 $2,685,350 $1,919,950 EBIT $2,572,650 $5,384,650 $17,164,650 $14,139,650 $9,780,050 Tax $900,427.50 $1,884,627.50 $6,007,627.50 $4,948,877.50 $3,423,017.50 Net income $1,672,222.50 $3,500,022.50 $11,157,022.50 $9,190,772.50 $6,357,032.50 Net working capital=sales*20%