ACCA历年考题之f9_2009_dec_q.pdf

Fundamentals Level – Skills Module 9 F Financial Management Thursday 10 December 2009 r e p Time allowed Reading and planning: 15 minutes Writing: 3 hours a ALL FOUR questions are compulsory and MUST be attempted. Formulae Sheet, Present Value and Annuity Tables are on pages 6, 7 and 8. Do NOT open this paper until instructed by the supervisor. P During reading and planning time only the question paper may be annotated. You must NOT write in your answer booklet until instructed by the supervisor. This question paper must not be removed from the examination hall. The Association of Chartered Certified Accountants ALL FOUR questions are compulsory and MUST be attempted 1 ASOP Co is considering an investment in new technology that will reduce operating costs through increasing energy efficiency and decreasing pollution. The new technology will cost $1 million and have a four-year life, at the end of which it will have a scrap value of $100,000. A licence fee of $104,000 is payable at the end of the first year. This licence fee will increase by 4% per year in each subsequent year. The new technology is expected to reduce operating costs by $5·80 per unit in current price terms. This reduction in operating costs is before taking account of expected inflation of 5% per year. Forecast production volumes over the life of the new technology are expected to be as follows: Year 1 2 3 4 Production (un