第六章投资决策的其他方法.pptxVIP

Chapter Outline;6.1 Why Use Net Present Value?;The Net Present Value (NPV) Rule;Good Attributes of the NPV Rule;6.2 The Payback Period Rule;The Payback Period Rule (continued);6.3 The Discounted Payback Period Rule;6.4 The Average Accounting Return Rule; 6.5 The Internal Rate of Return (IRR) Rule;The Internal Rate of Return: Example;The NPV Payoff Profile for This Example;6.6 Problems with the IRR Approach;Multiple IRRs;The Scale Problem;The Timing Problem;The Timing Problem;Calculating the Crossover Rate;Mutually Exclusive vs. Independent Project;6.7 The Profitability Index (PI) Rule;6.8 The