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Final Exam F Microsoft E HomeInsertPage LayoutFormulas Data Review View s Cut 1

ID: 2794752 • Letter: F

Question

Final Exam F Microsoft E HomeInsertPage LayoutFormulas Data Review View s Cut 1 Copy B 1 -li - 0 ,-- da Merge & Center. $ % , isa 8 C l. Insert Delete Format Paste Conditional Format Cell Formatting, as Table Styles Format Painter I U a Sort & Find & 2 Clear Filter Select Ed ting Clipboard Alignment Cells The firm's tax rate is 40% and the after-tax MARR is 8%. Annual Maintenance 13 Year Old forklift New forklift 1 400 $ 2 $ 600 $ 3 $ 800 $ 1,000 $ -10 1,400 $ 15 17 What is the equivalent annual after-tax value associated with purchasing a new lift versus keeping the old lift? 21 25 26 27 28 29 31 32 35 1 Overview /01 O2 Q ^ I..-11 its ENG 10.29 AM 12/2/2017

Explanation / Answer

New lift:

Old lift:

Year 0 Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Initial investment Annual cash flows                        50                        50                        50                        50                        50                        50                  50                  50                  50               50 Cost                            -                          50                        50                        50                        50                        50                        50                  50                  50                  50               50 Tax benefit@ 40%                      (20)                      (20)                      (20)                      (20)                      (20)                      (20)                (20)                (20)                (20)            (20) Net cash flow                        30                        30                        30                        30                        30                        30                  30                  30                  30               30 Discount rate@ 8.00%                  1.0000                0.9259                0.8573                0.7938                0.7350                0.6806                0.6302          0.5835          0.5403          0.5002      0.4632 Discounted cash flow                            -   27.78 25.72 23.81 22.05 20.42 18.91 17.50 16.21 15.01 13.90 NPV a 201.30 Annuity factor(10years,8%) b                  6.7101 Equivalent annual value c=a/b 30.00
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