Baixe o app para aproveitar ainda mais
Leia os materiais offline, sem usar a internet. Além de vários outros recursos!
TIR incremental 25 07
Esta é uma pré-visualização de arquivo. Entre para ver o arquivo original
Referência Fluxo líquido A B C D Posição-- > 1 2 3 4 Taxa de juros (TMAR) 0.1 Ano ↓ Alternativa --> C A B D Custo inicial * 200,000.00 * 275,000.00 * 190,000.00 * 350,000.00 0 -190,000.00 -200,000.00 -275,000.00 -350,000.00 Fluxo de caixa anual * 22,000.00 * 35,000.00 * 19,500.00 * 42,000.00 1 * 19,500.00 * 22,000.00 * 35,000.00 * 42,000.00 Vida útil 30 30 30 30 2 * 19,500.00 * 22,000.00 * 35,000.00 * 42,000.00 Ordem (posição) 2 3 1 4 3 * 19,500.00 * 22,000.00 * 35,000.00 * 42,000.00 4 * 19,500.00 * 22,000.00 * 35,000.00 * 42,000.00 5 * 19,500.00 * 22,000.00 * 35,000.00 * 42,000.00 6 * 19,500.00 * 22,000.00 * 35,000.00 * 42,000.00 Passo 1 2 3 4 7 * 19,500.00 * 22,000.00 * 35,000.00 * 42,000.00 Defendente FIN FIN A B 8 * 19,500.00 * 22,000.00 * 35,000.00 * 42,000.00 Desafiante C A B D 9 * 19,500.00 * 22,000.00 * 35,000.00 * 42,000.00 TIR * 0.0961 * 0.1044 NA NA 10 * 19,500.00 * 22,000.00 * 35,000.00 * 42,000.00 ΔTIR NA NA * 0.172 * 0.084 11 * 19,500.00 * 22,000.00 * 35,000.00 * 42,000.00 Alternativa a eliminar C FIN A D 12 * 19,500.00 * 22,000.00 * 35,000.00 * 42,000.00 13 * 19,500.00 * 22,000.00 * 35,000.00 * 42,000.00 Conclusão: Selecionar o projeto B (é o melhor do ponto de vista financeiro) 14 * 19,500.00 * 22,000.00 * 35,000.00 * 42,000.00 15 * 19,500.00 * 22,000.00 * 35,000.00 * 42,000.00 16 * 19,500.00 * 22,000.00 * 35,000.00 * 42,000.00 17 * 19,500.00 * 22,000.00 * 35,000.00 * 42,000.00 18 * 19,500.00 * 22,000.00 * 35,000.00 * 42,000.00 19 * 19,500.00 * 22,000.00 * 35,000.00 * 42,000.00 20 * 19,500.00 * 22,000.00 * 35,000.00 * 42,000.00 21 * 19,500.00 * 22,000.00 * 35,000.00 * 42,000.00 22 * 19,500.00 * 22,000.00 * 35,000.00 * 42,000.00 23 * 19,500.00 * 22,000.00 * 35,000.00 * 42,000.00 24 * 19,500.00 * 22,000.00 * 35,000.00 * 42,000.00 25 * 19,500.00 * 22,000.00 * 35,000.00 * 42,000.00 26 * 19,500.00 * 22,000.00 * 35,000.00 * 42,000.00 27 * 19,500.00 * 22,000.00 * 35,000.00 * 42,000.00 28 * 19,500.00 * 22,000.00 * 35,000.00 * 42,000.00 29 * 19,500.00 * 22,000.00 * 35,000.00 * 42,000.00 30 * 19,500.00 * 22,000.00 * 35,000.00 * 42,000.00 Ano Fluxo incremental -R$ 329.94 -R$ 395.93 R$ 65,988.40 0 B-A D-B 1 -75,000.00 -75,000.00 2 * 13,000.00 * 7,000.00 3 * 13,000.00 * 7,000.00 4 * 13,000.00 * 7,000.00 5 * 13,000.00 * 7,000.00 6 * 13,000.00 * 7,000.00 7 * 13,000.00 * 7,000.00 8 * 13,000.00 * 7,000.00 9 * 13,000.00 * 7,000.00 10 * 13,000.00 * 7,000.00 11 * 13,000.00 * 7,000.00 12 * 13,000.00 * 7,000.00 13 * 13,000.00 * 7,000.00 14 * 13,000.00 * 7,000.00 15 * 13,000.00 * 7,000.00 16 * 13,000.00 * 7,000.00 17 * 13,000.00 * 7,000.00 18 * 13,000.00 * 7,000.00 19 * 13,000.00 * 7,000.00 20 * 13,000.00 * 7,000.00 21 * 13,000.00 * 7,000.00 22 * 13,000.00 * 7,000.00 23 * 13,000.00 * 7,000.00 24 * 13,000.00 * 7,000.00 25 * 13,000.00 * 7,000.00 26 * 13,000.00 * 7,000.00 27 * 13,000.00 * 7,000.00 28 * 13,000.00 * 7,000.00 29 * 13,000.00 * 7,000.00 30 * 13,000.00 * 7,000.00 Montar Fluxo líquido A B C D Posição-- > 1 2 3 4 Taxa de juros (TMAR) 0.1 Ano ↓ Alternativa --> Custo inicial * 200,000.00 * 275,000.00 * 190,000.00 * 350,000.00 0 Fluxo de caixa anual * 22,000.00 * 35,000.00 * 19,500.00 * 42,000.00 1 Vida útil 30 30 30 30 2 Ordem (posição) 3 4 5 6 Passo 1 2 3 4 7 Defendente 8 Desafiante 9 TIR 10 ΔTIR 11 Alternativa a eliminar 12 13 Conclusão: 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 Ano Fluxo incremental 0 Incremental-- > 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 B&T8.2 Fluxo líquido A B Posição-- > 1 2 1 2 1 2 1 2 Taxa de juros (TMAR) 0.1 Ano ↓ Alternativa --> A B Ano Transformador A Transformador B Fluxo de caixa incremental B - A Ano Fluxo de caixa incremental B - A Fluxos positivos Fluxos negativos Ano Fluxo de caixa incremental B - A Fluxos positivos Fluxos negativos Custo inicial 70,000.00 95,000.00 0 -70,000.00 -95,000.00 0 -70,000.00 -95,000.00 -25,000.00 0 -25,000.00 0.0 -25,000.00 0 -25,000.00 0.0 -25,000.00 Custo operacional anual 9,000.00 7,000.00 1 -9,000.00 -7,000.00 1 -9,000.00 -7,000.00 * 2,000.00 1 * 2,000.00 * 2,000.00 0.0 1 * 2,000.00 * 2,000.00 0.0 Receita anual Não se aplica Não se aplica 2 -9,000.00 -7,000.00 2 -9,000.00 -7,000.00 * 2,000.00 2 * 2,000.00 * 2,000.00 0.0 2 * 2,000.00 * 2,000.00 0.0 Valor residual 5,000.00 10,000.00 3 -9,000.00 -7,000.00 3 -9,000.00 -7,000.00 * 2,000.00 3 * 2,000.00 * 2,000.00 0.0 3 * 2,000.00 * 2,000.00 0.0 Vida útil (anos) 8 12 4 -9,000.00 -7,000.00 4 -9,000.00 -7,000.00 * 2,000.00 4 * 2,000.00 * 2,000.00 0.0 4 * 2,000.00 * 2,000.00 0.0 Ordem (posição) 1 2 5 -9,000.00 -7,000.00 5 -9,000.00 -7,000.00 * 2,000.00 5 * 2,000.00 * 2,000.00 0.0 5 * 2,000.00 * 2,000.00 0.0 Aparições 3 2 6 -9,000.00 -7,000.00 Passo 1 2 3 4 6 -9,000.00 -7,000.00 * 2,000.00 6 * 2,000.00 * 2,000.00 0.0 6 * 2,000.00 * 2,000.00 0.0 7 -9,000.00 -7,000.00 Defendente A 7 -9,000.00 -7,000.00 * 2,000.00 7 * 2,000.00 * 2,000.00 0.0 7 * 2,000.00 * 2,000.00 0.0 8 -74,000.00 -7,000.00 Desafiante B 8 -74,000.00 -7,000.00 * 67,000.00 8 * 67,000.00 * 67,000.00 0.0 8 * 67,000.00 65.000+2.000 0.0 9 -9,000.00 -7,000.00 TIR NA 9 -9,000.00 -7,000.00 * 2,000.00 9 * 2,000.00 * 2,000.00 0.0 9 * 2,000.00 * 2,000.00 0.0 10 -9,000.00 -7,000.00 ΔTIR * 0.1522 10 -9,000.00 -7,000.00 * 2,000.00 10 * 2,000.00 * 2,000.00 0.0 10 * 2,000.00 * 2,000.00 0.0 11 -9,000.00 -7,000.00 Alternativa a eliminar A 11 -9,000.00 -7,000.00 * 2,000.00 11 * 2,000.00 * 2,000.00 0.0 11 * 2,000.00 * 2,000.00 0.0 12 -9,000.00 -92,000.00 12 -9,000.00 -92,000.00 -83,000.00 12 -83,000.00 0.0 -83,000.00 12 -83,000.00 * 2,000.00 -85,000.00 13 -9,000.00 -7,000.00 Conclusão: 13 -9,000.00 -7,000.00 * 2,000.00 13 * 2,000.00 * 2,000.00 0.0 13 * 2,000.00 * 2,000.00 0.0 14 -9,000.00 -7,000.00 14 -9,000.00 -7,000.00 * 2,000.00 14 * 2,000.00 * 2,000.00 0.0 14 * 2,000.00 * 2,000.00 0.0 15 -9,000.00 -7,000.00 15 -9,000.00 -7,000.00 * 2,000.00 15 * 2,000.00 * 2,000.00 0.0 15 * 2,000.00 * 2,000.00 0.0 16 -74,000.00 -7,000.00 16 -74,000.00 -7,000.00 * 67,000.00 16 * 67,000.00 * 67,000.00 0.0 16 * 67,000.00 65.000+2.000 0.0 17 -9,000.00 -7,000.00 17 -9,000.00 -7,000.00 * 2,000.00 17 * 2,000.00 * 2,000.00 0.0 17 * 2,000.00 * 2,000.00 0.0 18 -9,000.00 -7,000.00 18 -9,000.00 -7,000.00 * 2,000.00 18 * 2,000.00 * 2,000.00 0.0 18 * 2,000.00 * 2,000.00 0.0 19 -9,000.00 -7,000.00 19 -9,000.00 -7,000.00 * 2,000.00 19 * 2,000.00 * 2,000.00 0.0 19 * 2,000.00 * 2,000.00 0.0 20 -9,000.00 -7,000.00 20 -9,000.00 -7,000.00 * 2,000.00 20 * 2,000.00 * 2,000.00 0.0 20 * 2,000.00 * 2,000.00 0.0 21 -9,000.00 -7,000.00 21 -9,000.00 -7,000.00 * 2,000.00 21 * 2,000.00 * 2,000.00 0.0 21 * 2,000.00 * 2,000.00 0.0 22 -9,000.00 -7,000.00 22 -9,000.00 -7,000.00 * 2,000.00 22 * 2,000.00 * 2,000.00 0.0 22 * 2,000.00 * 2,000.00 0.0 23 -9,000.00 -7,000.00 23 -9,000.00 -7,000.00 * 2,000.00 23 * 2,000.00 * 2,000.00 0.0 23 * 2,000.00 * 2,000.00 0.0 24 -4,000.00 * 3,000.00 24 -4,000.00 * 3,000.00 * 7,000.00 24 * 7,000.00 * 7,000.00 0.0 24 * 7,000.00 2.000+5.000 0.0 Ano Fluxo incremental VPL -194,823.94 -183,961.57 * 10,862.37 VPL * 10,862.37 * 62,308.73 -51,446.36 VPL * 10,862.37 * 17,297.39 -52,083.62 0 Incremental-- > -25,000.00 1 * 2,000.00 * 620,001.17 * 52,083.62 2 * 2,000.00 3 * 2,000.00 0.10871640352448053 4 * 2,000.00 5 * 2,000.00 6 * 2,000.00 7 * 2,000.00 8 * 67,000.00 9 * 2,000.00 10 * 2,000.00 11 * 2,000.00 12 -83,000.00 13 * 2,000.00 14 * 2,000.00 15 * 2,000.00 16 * 67,000.00 17 * 2,000.00 18 * 2,000.00 19 * 2,000.00 20 * 2,000.00 21 * 2,000.00 22 * 2,000.00 23 * 2,000.00 24 * 7,000.00 B&T8.2_montar Fluxo líquido A B Posição-- > 1 2 1 2 1 2 1 2 Taxa de juros (TMAR) 0.1 Ano ↓ Alternativa --> A B Ano Transformador A Transformador B Fluxo de caixa incremental B - A Ano Fluxo de caixa incremental B - A Fluxos positivos Fluxos negativos Ano Fluxo de caixa incremental B - A Fluxos positivos Fluxos negativos Custo inicial 70,000.00 95,000.00 0 0 0.0 0.0 0.0 0 0.0 0.0 0.0 0 0.0 0.0 0.0 Custo operacional anual 9,000.00 7,000.00 1 1 0.0 0.0 0.0 1 0.0 0.0 0.0 1 0.0 0.0 0.0 Receita anual Não se aplica Não se aplica 2 2 0.0 0.0 0.0 2 0.0 0.0 0.0 2 0.0 0.0 0.0 Valor residual 5,000.00 10,000.00 3 3 0.0 0.0 0.0 3 0.0 0.0 0.0 3 0.0 0.0 0.0 Vida útil (anos) 8 12 4 4 0.0 0.0 0.0 4 0.0 0.0 0.0 4 0.0 0.0 0.0 Ordem (posição) 1 2 5 5 0.0 0.0 0.0 5 0.0 0.0 0.0 5 0.0 0.0 0.0 24 6 Passo 1 2 3 4 6 0.0 0.0 0.0 6 0.0 0.0 0.0 6 0.0 0.0 0.0 7 Defendente 7 0.0 0.0 0.0 7 0.0 0.0 0.0 7 0.0 0.0 0.0 8 Desafiante 8 0.0 0.0 0.0 8 0.0 0.0 0.0 8 0.0 65.000+2.000 0.0 9 TIR 9 0.0 0.0 0.0 9 0.0 0.0 0.0 9 0.0 0.0 0.0 10 ΔTIR 10 0.0 0.0 0.0 10 0.0 0.0 0.0 10 0.0 0.0 0.0 11 Alternativa a eliminar 11 0.0 0.0 0.0 11 0.0 0.0 0.0 11 0.0 0.0 0.0 12 12 0.0 0.0 0.0 12 0.0 0.0 0.0 12 0.0 * 2,000.00 -85,000.00 13 Conclusão: 13 0.0 0.0 0.0 13 0.0 0.0 0.0 13 0.0 0.0 0.0 14 14 0.0 0.0 0.0 14 0.0 0.0 0.0 14 0.0 0.0 0.0 15 15 0.0 0.0 0.0 15 0.0 0.0 0.0 15 0.0 0.0 0.0 16 16 0.0 0.0 0.0 16 0.0 0.0 0.0 16 0.0 65.000+2.000 0.0 17 17 0.0 0.0 0.0 17 0.0 0.0 0.0 17 0.0 0.0 0.0 18 18 0.0 0.0 0.0 18 0.0 0.0 0.0 18 0.0 0.0 0.0 19 19 0.0 0.0 0.0 19 0.0 0.0 0.0 19 0.0 0.0 0.0 20 20 0.0 0.0 0.0 20 0.0 0.0 0.0 20 0.0 0.0 0.0 21 21 0.0 0.0 0.0 21 0.0 0.0 0.0 21 0.0 0.0 0.0 22 22 0.0 0.0 0.0 22 0.0 0.0 0.0 22 0.0 0.0 0.0 23 23 0.0 0.0 0.0 23 0.0 0.0 0.0 23 0.0 0.0 0.0 24 24 0.0 0.0 0.0 24 0.0 0.0 0.0 24 0.0 2.000+5.000 0.0 Ano Fluxo incremental VPL 0.0 0.0 0.0 VPL 0.0 0.0 0.0 VPL 0.0 * 700.99 -27,083.62 0 Incremental-- > 0.0 1 0.0 * 620,001.17 * 52,083.62 2 0.0 3 0.0 0.10871640352448053 4 0.0 5 0.0 6 0.0 7 0.0 8 0.0 9 0.0 10 0.0 11 0.0 12 0.0 13 0.0 14 0.0 15 0.0 16 0.0 17 0.0 18 0.0 19 0.0 20 0.0 21 0.0 22 0.0 23 0.0 24 0.0 Newnan_8_10 Fluxo líquido Fluxo incremental A B C Posição-- > 1 2 3 TMAR 0.08 Ano ↓ Alternativa --> A B C B-A C-B WACC 0.08 0 -1000 -2000 -3000 -1,000.00 -1,000.00 Custo inicial * 1,000.00 * 2,000.00 * 3,000.00 1 150 150 0 0.0 -150.00 Fluxo de caixa anual * 150.00 * 150.00 0.0 2 150 150 0 0.0 -150.00 Valor residual * 1,000.00 * 2,700.00 * 5,600.00 3 150 150 0 0.0 -150.00 Vida útil 5 6 7 4 150 150 0 0.0 -150.00 Ordem (posição) 1 2 3 5 150 150 0 0.0 -150.00 MMC 210 6 150 850 0 * 700.00 -850.00 Passo 1 2 3 Repetições 42 35 30 7 150 150 2600 0.0 * 2,450.00 Defendente Inv. Fin. A B * 150.00 * 850.00 * 2,600.00 8 150 150 0 0.0 -150.00 Desafiante A B C * 1,150.00 * 2,850.00 * 5,600.00 9 150 150 0 0.0 -150.00 TIR 15% NA NA 10 150 150 0 0.0 -150.00 ΔTIR NA 9.25% 5.96% 11 150 150 0 0.0 -150.00 Eliminada Inv. Fin A C 12 150 850 0 * 700.00 -850.00 13 150 150 0 0.0 -150.00 Conclusão: projetos "Inv. Fin", A e C foram eliminados. 14 150 150 2600 0.0 * 2,450.00 15 150 150 0 0.0 -150.00 16 150 150 0 0.0 -150.00 17 150 150 0 0.0 -150.00 18 150 850 0 * 700.00 -850.00 19 150 150 0 0.0 -150.00 20 150 150 0 0.0 -150.00 21 150 150 2600 0.0 * 2,450.00 22 150 150 0 0.0 -150.00 23 150 150 0 0.0 -150.00 24 150 850 0 * 700.00 -850.00 25 150 150 0 0.0 -150.00 26 150 150 0 0.0 -150.00 27 150 150 0 0.0 -150.00 28 150 150 2600 0.0 * 2,450.00 29 150 150 0 0.0 -150.00 A B C 30 150 850 0 * 700.00 -850.00 Custo inicial * 1,000.00 * 2,000.00 * 3,000.00 31 150 150 0 0.0 -150.00 Posição 1 2 3 32 150 150 0 0.0 -150.00 VPL R$ 875.00 R$ 1,067.76 R$ 642.35 33 150 150 0 0.0 -150.00 TIR 15% 34 150 150 0 0.0 -150.00 35 150 150 2600 0.0 * 2,450.00 36 150 850 0 * 700.00 -850.00 37 150 150 0 0.0 -150.00 38 150 150 0 0.0 -150.00 39 150 150 0 0.0 -150.00 40 150 150 0 0.0 -150.00 41 150 150 0 0.0 -150.00 42 150 850 2600 * 700.00 * 1,750.00 43 150 150 0 0.0 -150.00 44 150 150 0 0.0 -150.00 45 150 150 0 0.0 -150.00 46 150 150 0 0.0 -150.00 47 150 150 0 0.0 -150.00 48 150 850 0 * 700.00 -850.00 49 150 150 2600 0.0 * 2,450.00 50 150 150 0 0.0 -150.00 51 150 150 0 0.0 -150.00 52 150 150 0 0.0 -150.00 53 150 150 0 0.0 -150.00 54 150 850 0 * 700.00 -850.00 55 150 150 0 0.0 -150.00 56 150 150 2600 0.0 * 2,450.00 57 150 150 0 0.0 -150.00 58 150 150 0 0.0 -150.00 59 150 150 0 0.0 -150.00 60 150 850 0 * 700.00 -850.00 61 150 150 0 0.0 -150.00 62 150 150 0 0.0 -150.00 63 150 150 2600 0.0 * 2,450.00 64 150 150 0 0.0 -150.00 65 150 150 0 0.0 -150.00 66 150 850 0 * 700.00 -850.00 67 150 150 0 0.0 -150.00 68 150 150 0 0.0 -150.00 69 150 150 0 0.0 -150.00 70 150 150 2600 0.0 * 2,450.00 71 150 150 0 0.0 -150.00 72 150 850 0 * 700.00 -850.00 73 150 150 0 0.0 -150.00 74 150 150 0 0.0 -150.00 75 150 150 0 0.0 -150.00 76 150 150 0 0.0 -150.00 77 150 150 2600 0.0 * 2,450.00 78 150 850 0 * 700.00 -850.00 79 150 150 0 0.0 -150.00 80 150 150 0 0.0 -150.00 81 150 150 0 0.0 -150.00 82 150 150 0 0.0 -150.00 83 150 150 0 0.0 -150.00 84 150 850 2600 * 700.00 * 1,750.00 85 150 150 0 0.0 -150.00 86 150 150 0 0.0 -150.00 87 150 150 0 0.0 -150.00 88 150 150 0 0.0 -150.00 89 150 150 0 0.0 -150.00 90 150 850 0 * 700.00 -850.00 91 150 150 2600 0.0 * 2,450.00 92 150 150 0 0.0 -150.00 93 150 150 0 0.0 -150.00 94 150 150 0 0.0 -150.00 95 150 150 0 0.0 -150.00 96 150 850 0 * 700.00 -850.00 97 150 150 0 0.0 -150.00 98 150 150 2600 0.0 * 2,450.00 99 150 150 0 0.0 -150.00 100 150 150 0 0.0 -150.00 101 150 150 0 0.0 -150.00 102 150 850 0 * 700.00 -850.00 103 150 150 0 0.0 -150.00 104 150 150 0 0.0 -150.00 105 150 150 2600 0.0 * 2,450.00 106 150 150 0 0.0 -150.00 107 150 150 0 0.0 -150.00 108 150 850 0 * 700.00 -850.00 109 150 150 0 0.0 -150.00 110 150 150 0 0.0 -150.00 111 150 150 0 0.0 -150.00 112 150 150 2600 0.0 * 2,450.00 113 150 150 0 0.0 -150.00 114 150 850 0 * 700.00 -850.00 115 150 150 0 0.0 -150.00 116 150 150 0 0.0 -150.00 117 150 150 0 0.0 -150.00 118 150 150 0 0.0 -150.00 119 150 150 2600 0.0 * 2,450.00 120 150 850 0 * 700.00 -850.00 121 150 150 0 0.0 -150.00 122 150 150 0 0.0 -150.00 123 150 150 0 0.0 -150.00 124 150 150 0 0.0 -150.00 125 150 150 0 0.0 -150.00 126 150 850 2600 * 700.00 * 1,750.00 127 150 150 0 0.0 -150.00 128 150 150 0 0.0 -150.00 129 150 150 0 0.0 -150.00 130 150 150 0 0.0 -150.00 131 150 150 0 0.0 -150.00 132 150 850 0 * 700.00 -850.00 133 150 150 2600 0.0 * 2,450.00 134 150 150 0 0.0 -150.00 135 150 150 0 0.0 -150.00 136 150 150 0 0.0 -150.00 137 150 150 0 0.0 -150.00 138 150 850 0 * 700.00 -850.00 139 150 150 0 0.0 -150.00 140 150 150 2600 0.0 * 2,450.00 141 150 150 0 0.0 -150.00 142 150 150 0 0.0 -150.00 143 150 150 0 0.0 -150.00 144 150 850 0 * 700.00 -850.00 145 150 150 0 0.0 -150.00 146 150 150 0 0.0 -150.00 147 150 150 2600 0.0 * 2,450.00 148 150 150 0 0.0 -150.00 149 150 150 0 0.0 -150.00 150 150 850 0 * 700.00 -850.00 151 150 150 0 0.0 -150.00 152 150 150 0 0.0 -150.00 153 150 150 0 0.0 -150.00 154 150 150 2600 0.0 * 2,450.00 155 150 150 0 0.0 -150.00 156 150 850 0 * 700.00 -850.00 157 150 150 0 0.0 -150.00 158 150 150 0 0.0 -150.00 159 150 150 0 0.0 -150.00 160 150 150 0 0.0 -150.00 161 150 150 2600 0.0 * 2,450.00 162 150 850 0 * 700.00 -850.00 163 150 150 0 0.0 -150.00 164 150 150 0 0.0 -150.00 165 150 150 0 0.0 -150.00 166 150 150 0 0.0 -150.00 167 150 150 0 0.0 -150.00 168 150 850 2600 * 700.00 * 1,750.00 169 150 150 0 0.0 -150.00 170 150 150 0 0.0 -150.00 171 150 150 0 0.0 -150.00 172 150 150 0 0.0 -150.00 173 150 150 0 0.0 -150.00 174 150 850 0 * 700.00 -850.00 175 150 150 2600 0.0 * 2,450.00 176 150 150 0 0.0 -150.00 177 150 150 0 0.0 -150.00 178 150 150 0 0.0 -150.00 179 150 150 0 0.0 -150.00 180 150 850 0 * 700.00 -850.00 181 150 150 0 0.0 -150.00 182 150 150 2600 0.0 * 2,450.00 183 150 150 0 0.0 -150.00 184 150 150 0 0.0 -150.00 185 150 150 0 0.0 -150.00 186 150 850 0 * 700.00 -850.00 187 150 150 0 0.0 -150.00 188 150 150 0 0.0 -150.00 189 150 150 2600 0.0 * 2,450.00 190 150 150 0 0.0 -150.00 191 150 150 0 0.0 -150.00 192 150 850 0 * 700.00 -850.00 193 150 150 0 0.0 -150.00 194 150 150 0 0.0 -150.00 195 150 150 0 0.0 -150.00 196 150 150 2600 0.0 * 2,450.00 197 150 150 0 0.0 -150.00 198 150 850 0 * 700.00 -850.00 199 150 150 0 0.0 -150.00 200 150 150 0 0.0 -150.00 201 150 150 0 0.0 -150.00 202 150 150 0 0.0 -150.00 203 150 150 2600 0.0 * 2,450.00 204 150 850 0 * 700.00 -850.00 205 150 150 0 0.0 -150.00 206 150 150 0 0.0 -150.00 207 150 150 0 0.0 -150.00 208 150 150 0 0.0 -150.00 209 150 150 0 0.0 -150.00 210 1150 2850 5600 * 1,700.00 * 2,750.00 VPL Newnan_8_10_aula Fluxo líquido A B C Posição-- > 1 2 3 TMAR 0.08 Ano ↓ Alternativa --> A B C WACC 0.08 0 Custo inicial * 1,000.00 * 2,000.00 * 3,000.00 1 Fluxo de caixa anual * 150.00 * 150.00 0.0 2 Valor residual * 1,000.00 * 2,700.00 * 5,600.00 3 Vida útil 5 6 7 4 Ordem (posição) 1 2 3 5 Aparições 6 Passo 1 2 3 7 Defendente 8 Desafiante 9 TIR 10 ΔTIR 11 Alternativa a eliminar 12 13 Conclusão: a alternativa B é financeiramente superior 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 129 130 131 132 133 134 135 136 137 138 139 140 141 142 143 144 145 146 147 148 149 150 151 152 153 154 155 156 157 158 159 160 161 162 163 164 165 166 167 168 169 170 171 172 173 174 175 176 177 178 179 180 181 182 183 184 185 186 187 188 189 190 191 192 193 194 195 196 197 198 199 200 201 202 203 204 205 206 207 208 209 210 N7_Ex.7_defla Ano Projeto 1: Porto de Santos, CODESP 1 Projeto 2: Porto de Santos, CODESP 2 Taxa de inflação (pontos percentuais) Ano t Deflator Fluxos de caixa líquidos deflacionados Projeto 2 Incremental 1-2 WACC 0.07 TJLP BNDES Receita Despesa Receita Despesa 1 2 Incremental (1-2) t FLD FLD < 0 FLD > 0 t FLD FLD < 0 FLD > 0 TMAR 0.0991 LTN Tesouro Nacional 2017 0.0 * 24,170.00 0.0 * 4,991.00 * 0.0393 * 1.00 2017 0 * 1.00 -24,170.00 -4,991.00 -19,179.00 0 -4,991.00 -4,991.00 0.0 0 -19,179.00 -19,179.00 0.0 2018 0.0 * 23,518.00 0.0 * 4,452.00 * 0.0434 * 1.04 2018 1 * 0.96 -22,539.77 -4,266.82 -18,272.95 1 -4,266.82 -4,266.82 0.0 1 -18,272.95 -18,272.95 0.0 2019 0.0 * 61,832.00 0.0 * 4,452.00 * 0.0429 * 1.04 2019 2 * 0.92 -56,822.43 -4,091.30 -52,731.13 2 -4,091.30 -4,091.30 0.0 2 -52,731.13 -52,731.13 0.0 2020 * 79,767.00 * 61,600.00 0.0 * 4,452.00 * 0.0425 * 1.04 2020 3 * 0.88 * 16,014.51 -3,924.51 * 19,939.02 3 -3,924.51 -3,924.51 0.0 3 * 19,939.02 0.0 * 19,939.02 2021 * 81,796.00 * 62,375.00 0.0 * 39,472.00 * 0.0419 * 1.04 2021 4 * 0.85 * 16,431.45 -33,395.93 * 49,827.38 4 -33,395.93 -33,395.93 0.0 4 * 49,827.38 0.0 * 49,827.38 2022 * 83,566.00 * 63,149.00 * 62,056.00 * 39,427.00 * 0.0419 * 1.04 2022 5 * 0.81 * 16,579.46 * 18,375.69 -1,796.24 5 * 18,375.69 0.0 * 18,375.69 5 -1,796.24 -1,796.24 0.0 2023 * 85,337.00 * 63,846.00 * 62,056.00 * 39,427.00 * 0.0419 * 1.04 2023 6 * 0.78 * 16,749.77 * 17,636.71 -886.94 6 * 17,636.71 0.0 * 17,636.71 6 -886.94 -886.94 0.0 2024 * 87,107.00 * 64,891.00 * 62,056.00 * 41,160.00 * 0.0419 * 1.04 2024 7 * 0.75 * 16,618.51 * 15,631.10 * 987.42 7 * 15,631.10 0.0 * 15,631.10 7 * 987.42 0.0 * 987.42 2025 * 89,708.00 * 65,975.00 * 62,056.00 * 41,437.00 * 0.0419 * 1.04 2025 8 * 0.72 * 17,039.34 * 14,803.62 * 2,235.73 8 * 14,803.62 0.0 * 14,803.62 8 * 2,235.73 0.0 * 2,235.73 2026 * 92,310.00 * 67,027.00 * 62,056.00 * 41,423.00 * 0.0419 * 1.04 2026 9 * 0.69 * 17,422.19 * 14,217.94 * 3,204.26 9 * 14,217.94 0.0 * 14,217.94 9 * 3,204.26 0.0 * 3,204.26 2027 * 94,912.00 * 68,056.00 * 62,056.00 * 41,442.00 * 0.0419 * 1.04 2027 10 * 0.66 * 17,761.90 * 13,633.60 * 4,128.31 10 * 13,633.60 0.0 * 13,633.60 10 * 4,128.31 0.0 * 4,128.31 2028 * 97,513.00 * 71,491.00 * 62,056.00 * 41,436.00 * 0.0419 * 1.04 2028 11 * 0.63 * 16,518.20 * 13,089.13 * 3,429.07 11 * 13,089.13 0.0 * 13,089.13 11 * 3,429.07 0.0 * 3,429.07 2029 * 100,115.00 * 74,868.00 * 62,056.00 * 41,409.00 * 0.0419 * 1.04 2029 12 * 0.61 * 15,381.75 * 12,579.20 * 2,802.55 12 * 12,579.20 0.0 * 12,579.20 12 * 2,802.55 0.0 * 2,802.55 2030 * 102,176.00 * 76,133.00 * 62,056.00 * 41,470.00 * 0.0419 * 1.04 2030 13 * 0.58 * 15,228.64 * 12,037.66 * 3,190.98 13 * 12,037.66 0.0 * 12,037.66 13 * 3,190.98 0.0 * 3,190.98 2031 * 104,778.00 * 77,637.00 * 62,056.00 * 41,861.00 * 0.0419 * 1.04 2031 14 * 0.56 * 15,232.45 * 11,334.12 * 3,898.33 14 * 11,334.12 0.0 * 11,334.12 14 * 3,898.33 0.0 * 3,898.33 2032 * 107,379.00 * 79,043.00 * 61,935.00 * 41,884.00 * 0.0419 * 1.04 2032 15 * 0.54 * 15,263.58 * 10,800.75 * 4,462.83 15 * 10,800.75 0.0 * 10,800.75 15 * 4,462.83 0.0 * 4,462.83 2033 * 109,981.00 * 78,713.00 * 61,935.00 * 41,653.00 * 0.0419 * 1.04 2033 16 * 0.52 * 16,165.61 * 10,485.83 * 5,679.78 16 * 10,485.83 0.0 * 10,485.83 16 * 5,679.78 0.0 * 5,679.78 2034 * 113,035.00 * 80,314.00 * 62,007.00 * 41,647.00 * 0.0419 * 1.04 2034 17 * 0.50 * 16,236.50 * 10,102.84 * 6,133.66 17 * 10,102.84 0.0 * 10,102.84 17 * 6,133.66 0.0 * 6,133.66 2035 * 116,254.00 * 80,904.00 * 62,007.00 * 41,635.00 * 0.0419 * 1.04 2035 18 * 0.48 * 16,835.63 * 9,702.27 * 7,133.35 18 * 9,702.27 0.0 * 9,702.27 18 * 7,133.35 0.0 * 7,133.35 2036 * 117,534.00 * 80,904.00 * 62,007.00 * 41,666.00 * 0.0419 * 1.04 2036 19 * 0.46 * 16,743.67 * 9,297.93 * 7,445.75 19 * 9,297.93 0.0 * 9,297.93 19 * 7,445.75 0.0 * 7,445.75 2037 * 117,534.00 * 80,924.00 * 62,007.00 * 41,633.00 * 0.0419 * 1.04 2037 20 * 0.44 * 16,061.55 * 8,938.49 * 7,123.06 20 * 8,938.49 0.0 * 8,938.49 20 * 7,123.06 0.0 * 7,123.06 2038 * 117,534.00 * 80,929.00 * 62,007.00 * 41,633.00 * 0.0419 * 1.04 2038 21 * 0.42 * 15,413.53 * 8,579.03 * 6,834.50 21 * 8,579.03 0.0 * 8,579.03 21 * 6,834.50 0.0 * 6,834.50 2039 * 117,534.00 * 80,891.00 * 62,007.00 * 41,653.00 * 0.0419 * 1.04 2039 22 * 0.40 * 14,809.03 * 8,225.94 * 6,583.10 22 * 8,225.94 0.0 * 8,225.94 22 * 6,583.10 0.0 * 6,583.10 2040 * 117,534.00 * 80,937.00 * 62,007.00 * 41,661.00 * 0.0419 * 1.04 2040 23 * 0.39 * 14,195.65 * 7,892.03 * 6,303.62 23 * 7,892.03 0.0 * 7,892.03 23 * 6,303.62 0.0 * 6,303.62 2041 * 117,534.00 * 80,904.00 * 62,007.00 * 41,620.00 * 0.0419 * 1.04 2041 24 * 0.37 * 13,637.05 * 7,589.92 * 6,047.14 24 * 7,589.92 0.0 * 7,589.92 24 * 6,047.14 0.0 * 6,047.14 VPL R$ 24,999.73 R$ 36,837.20 TIR 23% TIR 7% TIR 23% 6.75% VP (-) -R$ 41,233.35 VP (-) -R$ 84,185.63 Fonte: EBP/Portos/Terminais Portuários, projeto STS04_SANTOS-SP_CODESP (1) e projeto STS07_e_STS36_SANTOS-SP_CODESP (2) VF (+) 759014.1273366993 VF (+) * 657,406.38 TMAR 12.9038% TMAR 8.9410% B&T8.21 Fluxo líquido First cost, $ �150,000 �280,000 Fe Al Posição-- > 1 2 t FCI FCI- FCI+ Annual operating cost, $ per year �92,000 �74,000 TMAR 0.2 Ano ↓ Alternativa --> Fe Al 0 -130,000.00 -130,000.00 Salvage value, $ 30,000 70,000 WACC 0.2 0 -150,000.00 -280,000.00 Passo 1 2 1 * 18,000.00 * 18,000.00 Life, years 2 4 Custo inicial * 150,000.00 * 280,000.00 1 -92,000.00 -74,000.00 Defendente A 2 * 138,000.00 * 138,000.00 Custo anual * 92,000.00 * 74,000.00 2 -212,000.00 -74,000.00 Desafiante B 3 * 18,000.00 * 18,000.00 Valor residual * 30,000.00 * 70,000.00 3 -92,000.00 -74,000.00 TIR NA 4 * 58,000.00 * 58,000.00 Vida útil 2 4 4 -62,000.00 -4,000.00 ΔTIR * 0.2735 * 309,424.00 Posição * 1.00 * 2.00 VPL -R$ 380,857.77 -R$ 364,840.53 Alternativa a eliminar * 309,424.00 * 2.38 1.2420888434744657 Ano Fluxo incremental (Al-Fe) 0.24208884347446569 * 212,000.00 0 Incremental-- > -130,000.00 Conclusão: 1 * 18,000.00 2 * 138,000.00 3 * 18,000.00 4 * 58,000.00 TIR Newnan_8_6 Fluxo líquido A B C Posição-- > 1 2 3 Taxa de juros (TMAR) 0.06 Ano ↓ Alternativa --> A B C Ano A B C Custo inicial * 10,000.00 * 15,000.00 * 20,000.00 0 -10,000.00 -15,000.00 -20,000.00 0 -10,000.00 -15,000.00 -20,000.00 Receita anual * 1,625.00 * 1,625.00 * 1,890.00 1 * 1,625.00 * 1,625.00 * 1,890.00 1 * 1,625.00 * 1,625.00 * 1,890.00 Vida útil 10 20 20 2 * 1,625.00 * 1,625.00 * 1,890.00 2 * 1,625.00 * 1,625.00 * 1,890.00 Ordem (posição) 1 2 3 3 * 1,625.00 * 1,625.00 * 1,890.00 3 * 1,625.00 * 1,625.00 * 1,890.00 4 * 1,625.00 * 1,625.00 * 1,890.00 4 * 1,625.00 * 1,625.00 * 1,890.00 5 * 1,625.00 * 1,625.00 * 1,890.00 5 * 1,625.00 * 1,625.00 * 1,890.00 6 * 1,625.00 * 1,625.00 * 1,890.00 Passo 1 2 3 6 * 1,625.00 * 1,625.00 * 1,890.00 7 * 1,625.00 * 1,625.00 * 1,890.00 Defendente Fin A B 7 * 1,625.00 * 1,625.00 * 1,890.00 8 * 1,625.00 * 1,625.00 * 1,890.00 Desafiante A B C 8 * 1,625.00 * 1,625.00 * 1,890.00 9 * 1,625.00 * 1,625.00 * 1,890.00 TIR * 0.0996 NA NA 9 * 1,625.00 * 1,625.00 * 1,890.00 10 -8,375.00 * 1,625.00 * 1,890.00 ΔTIR NA 7% 1% 10 -8,375.00 * 1,625.00 * 1,890.00 11 * 1,625.00 * 1,625.00 * 1,890.00 Alternativa a eliminar Fin A C 11 * 1,625.00 * 1,625.00 * 1,890.00 12 * 1,625.00 * 1,625.00 * 1,890.00 12 * 1,625.00 * 1,625.00 * 1,890.00 13 * 1,625.00 * 1,625.00 * 1,890.00 Conclusão: B 13 * 1,625.00 * 1,625.00 * 1,890.00 14 * 1,625.00 * 1,625.00 * 1,890.00 14 * 1,625.00 * 1,625.00 * 1,890.00 15 * 1,625.00 * 1,625.00 * 1,890.00 15 * 1,625.00 * 1,625.00 * 1,890.00 16 * 1,625.00 * 1,625.00 * 1,890.00 16 * 1,625.00 * 1,625.00 * 1,890.00 17 * 1,625.00 * 1,625.00 * 1,890.00 17 * 1,625.00 * 1,625.00 * 1,890.00 18 * 1,625.00 * 1,625.00 * 1,890.00 18 * 1,625.00 * 1,625.00 * 1,890.00 19 * 1,625.00 * 1,625.00 * 1,890.00 19 * 1,625.00 * 1,625.00 * 1,890.00 20 * 1,625.00 * 1,625.00 * 1,890.00 20 * 1,625.00 * 1,625.00 * 1,890.00 VPL R$ 2,881.77 R$ 3,432.66 R$ 1,583.16 Fluxo incremental Fluxo incremental Incremental-- > B-A C-B Ano Fluxo incremental B-A Fluxo incremental C-B 0 -5,000.00 -5,000.00 0 -5,000.00 -5,000.00 1 0.0 * 265.00 1 0.0 * 265.00 2 0.0 * 265.00 2 0.0 * 265.00 3 0.0 * 265.00 3 0.0 * 265.00 4 0.0 * 265.00 4 0.0 * 265.00 5 0.0 * 265.00 5 0.0 * 265.00 6 0.0 * 265.00 6 0.0 * 265.00 7 0.0 * 265.00 7 0.0 * 265.00 8 0.0 * 265.00 8 0.0 * 265.00 9 0.0 * 265.00 9 0.0 * 265.00 10 * 10,000.00 * 265.00 10 * 10,000.00 * 265.00 11 0.0 * 265.00 11 0.0 * 265.00 12 0.0 * 265.00 12 0.0 * 265.00 13 0.0 * 265.00 13 0.0 * 265.00 14 0.0 * 265.00 14 0.0 * 265.00 15 0.0 * 265.00 15 0.0 * 265.00 16 0.0 * 265.00 16 0.0 * 265.00 17 0.0 * 265.00 17 0.0 * 265.00 18 0.0 * 265.00 18 0.0 * 265.00 19 0.0 * 265.00 19 0.0 * 265.00 20 0.0 * 265.00 20 0.0 * 265.00 TIR 7.18% 0.56% VF 17908.476965428545 R$ 9,748.18 VP -5,000.00 -5,000.00 TIRM 6.59% 3.39%
Compartilhar
Continue navegando
Perguntas relacionadas
Compartilhar