约当每年成本.ppt

* 12 Net Present Value - Present value of cash flows minus initial investments. Present Value – Value of discounted cash flows at time t = 0 * 8 * 8 Co = $1000 C1 = $0 C2 = $1,200 r = 0.10 * 13 Net Present Value Rule – Managers increase shareholders’ wealth by accepting all projects that are worth more than they cost. Therefore, they should accept all projects with a positive net present value. * 13 Net Present Value Rule – Managers increase shareholders’ wealth by accepting all projects that are worth more than they cost. Therefore, they should accept all projects with a positive net presen