公司金融_Capital Budgeting.pptxVIP

Corporate Finance;Class Outline;Capital Budgeting;Introducing Capital Budgeting Decisions;Capital Budgeting;Capital Budgeting;Capital Budgeting;Incremental Cash Flows;Incremental Cash Flows;Sunk Costs and Opportunity Costs;Side Effects;Financing items and NWC;In-Class Example;Capital Budgeting;Capital Budgeting – Project Analysis;Capital Budgeting – Project Analysis;Detailed Project Analysis: Depreciation;Detailed Project Analysis;Case Study: Airlines Facility Project;Project description…;Pro forma income statement;Case: Pro forma income statement (Step 1 continued);Case: NWC Capital Spending;Case: Project Cash Flow;Terminology used in the RWJ text;A NOTE on navigating the jargon…;Comparing Projects;Comparing Projects;Special Cases of Capital Budgeting;Special Cases of Capital Budgeting;Special Cases of Capital Budgeting;Special Cases of Capital Budgeting;Special Cases of Capital Budgeting;Special Cases of Capital Budgeting;Other capital budgeting problems;Choice between mutually exclusive projects;Example;Projects of Unequal Lives;Projects of Unequal Lives;Equivalent Annual Cost;Projects of Unequal Lives ;Equivalent Annual Cost;Steps to Compare Projects with Unequal Lives;EAC Example;Steps to this Problem;Compute NPV for Evergo ;In-Class Exercise: EAC;Setting the Bid Price;Setting the Bid Price: The MUDD Case;Setting the Bid Price: The MUDD Case ;Setting the Bid Price: The MUDD Case;Setting the Bid Price: The MUDD Case;Capital Budgeting Review;Key Points