Cost

adjusted for
WACC Amount Weight tax
Equity 1,750,000 39.8% 19.5%
P.Stock 1,150,000 26.1% 6.0%
Loan 1,500,000 34.1% 5.6%
Total 4,400,000 100.0%

Amount No. of shares Par value

Ordinary Share capital 50,000 10
P.Stock 10,000 100
Loan 1,500,000

Tax rate 30%

Cost of equity 19.5%

Intrinsic
Dividends Market value value
year 0 -35
year 1 3
year 2 3.5
year 3 3.8
year 4 4.2
year 5 5 57.8
year 6 5.5 NPV

Cost of P.stock 6.0%

Redemption
Dividends Market value value
year 0 -115
year 1 9
year 2 9
year 3 9
year 4 9
year 5 9
year 6 9 100
IRR
Wtd. Cost
7.8%
1.6%
1.9%
11.2%

Growth rate
Market Redempe beyond year
value Interest rate tion value Term 5
35 10%
115 9% 100 6
8%

Total CF
(35.0)
3
3.5
3.8
4.2
62.8 Int. value = D1/ (Ke - g)
0.0

Total CF
-115
9
9
9
9
9
109
6%
Scenario Summary
Current Values: Ac1 Sc2
Changing Cells:
$E$10 15% 20% 25%
$E$12 8.0% 8.5% 9.0%
Result Cells:
$H$7 348,754 332,368 315,527
Notes: Current Values column represents values of changing cells at
time Scenario Summary Report was created. Changing cells for each
scenario are highlighted in gray.
Cost 20,000,000
*Registration 0.30%
*Road taxes 50,000
*Adjustable withholding income tax 1.00%
*Down payment %age of cost 15%
Insurance as %age of cost for 5 years 1%
Interest rate 8%
Lease period years 5
Instalment payment Monthly

Total cost of vehicle Amount

Invoice price 20,000,000
Regis 60,000
Road taxes 50,000
Adjustable withholding income tax 0
Insurance 200,000
Financing cost 3,725,239
Total 24,035,239

Lease amount
Cost of vehicle 20,000,000
less: D/payemnt (3,000,000)
Amount leased 17,000,000
Insurance 200,000
Total lease by Bank 17,200,000
Annual Instalement 4,307,851
Monthly instalment 348,754

# of Instalment Op. bal Prin Interest Instalment Closing bal

1 17,200,000 234,087 114,667 348,754 16,965,913
2 16,965,913 235,648 113,106 348,754 16,730,265
3 16,730,265 237,219 111,535 348,754 16,493,046
4 16,493,046 238,800 109,954 348,754 16,254,246
5 16,254,246 240,392 108,362 348,754 16,013,853
6 16,013,853 241,995 106,759 348,754 15,771,858
7 15,771,858 243,608 105,146 348,754 15,528,250
8 15,528,250 245,232 103,522 348,754 15,283,018
9 15,283,018 246,867 101,887 348,754 15,036,150
10 15,036,150 248,513 100,241 348,754 14,787,638
11 14,787,638 250,170 98,584 348,754 14,537,468
12 14,537,468 251,838 96,916 348,754 14,285,630
13 14,285,630 253,516 95,238 348,754 14,032,114
14 14,032,114 255,207 93,547 348,754 13,776,907
15 13,776,907 256,908 91,846 348,754 13,519,999
16 13,519,999 258,621 90,133 348,754 13,261,379
17 13,261,379 260,345 88,409 348,754 13,001,034
18 13,001,034 262,080 86,674 348,754 12,738,953
19 12,738,953 263,828 84,926 348,754 12,475,126
20 12,475,126 265,586 83,168 348,754 12,209,539
21 12,209,539 267,357 81,397 348,754 11,942,182
22 11,942,182 269,139 79,615 348,754 11,673,043
23 11,673,043 270,934 77,820 348,754 11,402,109
24 11,402,109 272,740 76,014 348,754 11,129,369
25 11,129,369 274,558 74,196 348,754 10,854,811
26 10,854,811 276,389 72,365 348,754 10,578,422
27 10,578,422 278,231 70,523 348,754 10,300,191
28 10,300,191 280,086 68,668 348,754 10,020,105
29 10,020,105 281,953 66,801 348,754 9,738,152
30 9,738,152 283,833 64,921 348,754 9,454,319
31 9,454,319 285,725 63,029 348,754 9,168,594
32 9,168,594 287,630 61,124 348,754 8,880,964
33 8,880,964 289,548 59,206 348,754 8,591,416
34 8,591,416 291,478 57,276 348,754 8,299,938
35 8,299,938 293,421 55,333 348,754 8,006,517
36 8,006,517 295,377 53,377 348,754 7,711,140
37 7,711,140 297,346 51,408 348,754 7,413,794
38 7,413,794 299,329 49,425 348,754 7,114,465
39 7,114,465 301,324 47,430 348,754 6,813,141
40 6,813,141 303,333 45,421 348,754 6,509,808
41 6,509,808 305,355 43,399 348,754 6,204,453
42 6,204,453 307,391 41,363 348,754 5,897,062
43 5,897,062 309,440 39,314 348,754 5,587,621
44 5,587,621 311,503 37,251 348,754 5,276,118
45 5,276,118 313,580 35,174 348,754 4,962,538
46 4,962,538 315,670 33,084 348,754 4,646,868
47 4,646,868 317,775 30,979 348,754 4,329,093
48 4,329,093 319,893 28,861 348,754 4,009,200
49 4,009,200 322,026 26,728 348,754 3,687,174
50 3,687,174 324,173 24,581 348,754 3,363,001
51 3,363,001 326,334 22,420 348,754 3,036,667
52 3,036,667 328,510 20,244 348,754 2,708,157
53 2,708,157 330,700 18,054 348,754 2,377,458
54 2,377,458 332,904 15,850 348,754 2,044,553
55 2,044,553 335,124 13,630 348,754 1,709,430
56 1,709,430 337,358 11,396 348,754 1,372,072
57 1,372,072 339,607 9,147 348,754 1,032,465
58 1,032,465 341,871 6,883 348,754 690,594
59 690,594 344,150 4,604 348,754 346,444
60 346,444 346,444 2,310 348,754 0