Ocean Carriers(海洋运输公司)答案

年份200120022003增量现金流分析

一、初始投资-3900000-3900000-31200000（1）船只 -3900000-3900000-31200000（2）折旧（特别检查）

二、营业现金流4650000（1）年租金收入7140000（2）年维修成本1460000（3）折旧1560000（4）税前利润4120000（5）所得税1030000（6）净利润3090000三、净营业资本投资-500000（1）三项合计-500000四、税后残值0（1）船只变现收入

（2）船只账面值

（3）处置固定资产净损失

（4）所得税

五、增量现金流-3900000-3900000-27050000

六、现值

（1）预计资本成本10.00%

（2）pv(3900000.00)(3545454.55)(22355371.90)七、NPV5338959.09

20042005200620072008 000-3000000

-3000000 465975046677484168947.423751528.1273700859.822 72114007282800668089861700316170793 151840015791361642301.441707993.4981776313.238 15600001560000156000016200001620000 413300041436643478596.562842037.5022774479.762 10332501035916869649.14710509.3756693619.9406 309975031077482608947.422131528.1272080859.822 -15000-15450-15913.5-16390.905-16882.63215 -515000-530450-546363.5-562754.405-579637.0372 00000 464475046522984153033.923435137.2223683977.19

3489669.423177582.132578707.321939045.411890462.80

20092010201120122013 000-3500000

000-3500000 3700785.1753699373.2023696273.893463036.5653400761.508 62417466313758638647661520846152172 1847365.7671921260.3981998110.8142078035.2462161156.656 16200001620000162000016300001630000 2774380.2332772497.6022768365.1862444048.7542361015.344 693595.0582693124.4006692091.2966611012.1885590253.836 2080785.1752079373.2022076273.891833036.5651770761.508 -17389.11111-17910.78445-18448.10798-19001.55122-19571.59776 -597026.1483-614936.9327-633385.0407-652386.5919-671958.1897 00000 3683396.0643681462.4173677825.7823094035.0143381189.91

1718331.451561299.441417961.051084440.401077351.31

2014201520162017 0000

0000 3389062.0583375292.7213359349.7592357767.79 6223019629456463668075151938 2247602.9222337507.0392431007.3212528247.614 1630000163000016300001560000 2345416.0782327056.9612305799.6791063690.386 586354.0194581764.2402576449.9198265922.5966 1759062.0581745292.7211729349.759797767.7899 -20158.74569-20763.50806-21386.41330 -692116.9354-712880.4434-734266.8567-756294.8624 0007650000

5000000

15600000

-10600000

-2650000 3368903.3133354529.2133337963.34610007767.79 975851.29883352.393337963.3510007767.79