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Payback Period

Year IC FC TVC TC Gross Benefits Net Benefits Years


1 590,000 536,900 279,400 1,406,300 900,000 (506,300)
2 536,900 279,400 816,300 900,000 83,700
3 536,900 279,400 816,300 900,000 83,700
4 536,900 279,400 816,300 900,000 83,700
5 536,900 279,400 816,300 900,000 83,700
6 536,900 279,400 816,300 900,000 83,700
7 536,900 279,400 816,300 900,000 83,700
8 536,900 279,400 816,300 900,000 83,700
9 536,900 279,400 816,300 900,000 83,700
10 536,900 279,400 816,300 900,000 83,700
Salvage Value at the end of 10 years 59,000
Total Net Benefits 306,000
Payback Period 1.9

590,000
𝑃𝑎𝑦𝑏𝑎𝑐𝑘 𝑃𝑒𝑟𝑖𝑜𝑑 = = 1.9
306,000
Benefit-Cost Ratio

Year
Item Total
0 1 2 3 4 5 6 7 8 9 10
Benefits 900,000 900,000 900,000 900,000 900,000 900,000 900,000 900,000 900,000 900,000
Costs 590,000 279,400 279,400 279,400 279,400 279,400 279,400 279,400 279,400 279,400 279,400

Discount
1 0.89 0.80 0.71 0.64 0.57 0.51 0.45 0.40 0.36 0.32
Factor
PW Benefits 0 803,571 717,474 640,602 571,966 510,684 455,968 407,114 363,495 324,549 289,776 5,085,199
PW Costs 590,000 249,464 222,736 198,871 177,564 158,539 141,553 126,386 112,845 100,754 89,959 2,168,671
Benefit Cost Ratio 2.34
5,085,199
𝐵𝑒𝑛𝑒𝑓𝑖𝑡 − 𝐶𝑜𝑠𝑡 𝑟𝑎𝑡𝑖𝑜 = = 2.34
2,168,671
𝑁𝑒𝑡 𝑃𝑟𝑒𝑠𝑒𝑛𝑡 𝑉𝑎𝑙𝑢𝑒 = 5,085,199 − 2,168,671 = 2,916,528
Internal Rate of Return

Year
Item Total
0 1 2 3 4 5 6 7 8 9 10
Benefits 900,000 900,000 900,000 900,000 900,000 900,000 900,000 900,000 900,000 900,000
Costs 590,000 279,400 279,400 279,400 279,400 279,400 279,400 279,400 279,400 279,400 279,400

Discount Factor (16%) 1 0.86 0.74 0.64 0.55 0.48 0.41 0.35 0.31 0.26 0.23
PW Benefits 0 775,862 668,847 576,592 497,062 428,502 369,398 318,447 274,523 236,658 204,015
PW Costs 590,000 240,862 207,640 179,000 154,310 133,026 114,678 98,860 85,224 73,469 63,335
Net Present Value (590,000) 535,000 461,207 397,592 342,752 295,476 254,720 219,587 189,299 163,189 140,680 2,409,502

Discount Factor (8%) 1 0.93 0.86 0.79 0.74 0.68 0.63 0.58 0.54 0.50 0.46
PW Benefits 0 833,333 771,605 714,449 661,527 612,525 567,153 525,141 486,242 450,224 416,874
PW Costs 590,000 258,704 239,540 221,797 205,367 190,155 176,069 163,027 150,951 139,770 129,416
Net Present Value (590,000) 574,629 532,065 492,652 456,160 422,370 391,084 362,114 335,291 310,454 287,458 3,574,277

Internal Rate of Return 32.5%

3,574,277
𝐼𝑛𝑡𝑒𝑟𝑛𝑎𝑙 𝑅𝑎𝑡𝑒 𝑜𝑓 𝑅𝑒𝑡𝑢𝑟𝑛 = (0.08 + (0.16 − 0.08) ( )) = 32.5%
|3,574,277 − 2,409,502|