Académique Documents
Professionnel Documents
Culture Documents
2
3
4
5
Initial
Installment Interest
Principal
Final
60000.00
16644.58
7200.00
9444.58
50555.42
50555.42
16644.58
6066.65
10577.93
39977.48
39977.48
16644.58
4797.30
11847.29
28130.20
28130.20
16644.58
3375.62
13268.96
14861.24
14861.24
16644.58
1783.35
14861.24
0.00
Installment Interest Tax shield Depn tax shield Net Cash Flow Salvage Value NPV
-16644.584
2160.00
3600
-10884.58
- 45,203.24
-16644.584
1819.99
3600
-11224.59
-16644.584
1439.19
3600
-11605.39
-16644.584
1012.69
3600
-12031.90
-16644.584
535.00
3600
-12509.58
966
Kd
12%
Lease
Tax rate
30%
1
4.28284992 After tax kd
0.084
1
Annuity Factor for Loan
3.6047762
1
Yearly installment
16644.5839
1
no of years
5
1
salvage value
1500
WACC
11%
Commission
8%
Lease Installment
-15077.82
Depn
12000
1
2
3
4
5
Initial
Installment Interest
Principal
Final
60000.00
19200.00
7200.00
12000.00
48000.00
48000.00
17760.00
5760.00
12000.00
36000.00
36000.00
16320.00
4320.00
12000.00
24000.00
24000.00
14880.00
2880.00
12000.00
12000.00
12000.00
13440.00
1440.00
12000.00
0.00
Installment Interest Tax shield Depn tax shield Net Cash Flow Salvage Value NPV
-19200
2160.00
3600
-13440.00
- 45,203.24
-17760
1728.00
3600
-12432.00
-16320
1296.00
3600
-11424.00
-14880
864.00
3600
-10416.00
-13440
432.00
3600
-9408.00
966
Kd
12%
Lease
Tax rate
30%
1
4.28284992 After tax kd
0.084
1
Annuity Factor for Loan
3.6047762
1
Yearly installment
16644.5839
1
no of years
5
1
salvage value
1500
WACC
11%
Commission
8%
Lease Installment
-15077.82
(considering lease payments due at the start of the year)
By formula
- 15,077.82
Depn
12000
1
2
3
4
5
Initial
Installment Interest
Principal
Final
60000.00
19200.00
7200.00
12000.00
48000.00
48000.00
17760.00
5760.00
12000.00
36000.00
36000.00
16320.00
4320.00
12000.00
24000.00
24000.00
14880.00
2880.00
12000.00
12000.00
12000.00
13440.00
1440.00
12000.00
0.00
Installment Interest Tax shield Depn tax shield Net Cash Flow Salvage Value NPV
-19200
2160.00
3600
-13440.00
- 45,131.11
-17760
1728.00
3600
-12432.00
-16320
1296.00
3600
-11424.00
-14880
864.00
3600
-10416.00
-13440
432.00
3600
-9408.00
966
(discounted at kd(1-t) )
Kd
12%
Tax rate
30%
1
3.95 After tax kd
0.084
1
Annuity Factor for Loan
3.6047762
1
Yearly installment
16644.5839
1
no of years
5
1
salvage value
1500
WACC
11%
Commission
8%
Lease Installment
-16318.28
(considering lease payments due at the end of the year)
By formula
- 16,318.28
Lease
Depn
12000