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EXERCISES
Exercise 6-1
Exercise 6-2
Exercise 6-3
1.
2.
$31,947 =
$70,000
.45639
3.
$ 9,576 =
$40,000
.2394
The McGraw-Hill Companies, Inc., 2013
6-1
4.
$ 20,462 =
$100,000
.20462
5.
Exercise
1.
6-4$37,908
2.
= $41,699
Exercise 6-5
= $30,723
2.
$298,058 =
$60,000
4.96764
3.
$337,733 =
$30,000
11.25777
4.
$600,000 =
$74,435
8.06072
5.
$200,000 =
4.11141
$48,645
Exercise 6-6
PV
.80426=
$4,800
PV
$4,800
.80426
$5,968
PVA =
14.99203=
$5,968
annuity amount
PVA =
$5,968
=
14.99203
$398.08
Payment
PROBLEMS
1. PV = $50,000 + ($20,000 x 3.31213 )
Problem 6-1Equipment
= $116,243 =
3. Choose the option with the lowest present value of cash outflows.
1. Buy option:
PV = - $2,000,000
2. Lease option:
PVAD = - $200,000 x 9.36492 = - $1,872,984
Problem 6-2
Alternative 1:
PV = $400,000
Alternative 2:
PV = PVAD = $40,000 x 10.29498 = $411,799
Present value of an annuity due of $1: n=15, i=6% (from Table 6)
Alternative 3:
PVA = $45,000
9.71225
$437,051
PV
= $437,051
.79209
$346,184