Workshop 4 Building Fin. Model invest.proekta

Workshop 4 Building Fin. Model invest.proekta

Task 1. Determine the cash flows of the investment project, the net present value, internal rate of return, payback period, profitability index of discounted investments.
Baseline data of the project:
• the duration of the calculation step is equal to one year;
• depreciation rate of 15%;
• from the tax accounted for VAT (18%), property tax (2% of the average annual net value of assets), the transport tax of 0.2 USD in the year, income tax (20%), insurance premiums - 34%;
• No increase in working capital accounted for and nekapitaliziruemye investment costs and VAT on capital investments considered to be within them and transferring its value to the cost of production through depreciation;
• liquidation costs are taken into account VAT. The liquidation proceeds are taken into account in the amount remaining with the enterprise, ie without VAT.
Commissioning of fixed assets in operation (the appearance of assets) is expected in the year following the year of committing capital expenditure. At step with m = 4 there are additional civil engineering work, which is why at this time decreases output. In step with m = 7 output decreases again due to the completion of the project, in step with the m = 8 produced work related to the termination of the project.
Discount rate of the investment project is 10% per annum.

Task 2. Select the preferred projects of a set of projects A, B, C, D with different duration of action to be included in the investment program for a period of three years. Baseline data are presented in the following table. Discount rate of 15%. The volume of current investment program for 400 mln. Rub.