Aula 03 - Planilha - Case TCM - Hotel Solarium - V7-pF

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Rio de Janeiro
	TCM			HOTEL SOLARIUM
	Investimento Inicial	16,500,000.00				Taxa ocupação múltipla		1.8		Total UHs	150
		110,000.00	p/ UH construída
	ANOS	0	1	2	3	4	5	6	7	8	9	10
	% Ocupação		78%	80%	82%	85%	87%	89%	92%	94%	97%	100%
	Unidades Ocupadas		42,705	43,879	45,086	46,326	47,600	48,909	50,254	51,636	53,056	54,515
	Diária Média		R$ 295.00	R$ 314.18	R$ 334.60	R$ 356.35	R$ 379.51	R$ 404.18	R$ 430.45	R$ 458.43	R$ 488.22	R$ 519.96
	Número Hóspedes		76,869	78,983	81,155	83,387	85,680	88,036	90,457	92,945	95,501	98,127
	Hospedagem
	Receitas		R$ 12,597,975.00	R$ 13,785,806.57	R$ 15,085,635.80	R$ 16,508,022.69	R$ 18,064,522.88	R$ 19,767,781.58	R$ 21,631,636.29	R$ 23,671,229.19	R$ 25,903,130.22	R$ 28,345,471.61
	Impostos s/ receitas		R$ 1,763,716.50	R$ 1,930,012.92	R$ 2,111,989.01	R$ 2,311,123.18	R$ 2,529,033.20	R$ 2,767,489.42	R$ 3,028,429.08	R$ 3,313,972.09	R$ 3,626,438.23	R$ 3,968,366.02
	Total Líquido Receitas		R$ 10,834,258.50	R$ 11,855,793.65	R$ 12,973,646.79	R$ 14,196,899.51	R$ 15,535,489.68	R$ 17,000,292.16	R$ 18,603,207.21	R$ 20,357,257.11	R$ 22,276,691.99	R$ 24,377,105.58
	(-) Custos Fixos		R$ 1,930,500.00	R$ 2,055,982.50	R$ 2,189,621.36	R$ 2,331,946.75	R$ 2,483,523.29	R$ 2,644,952.30	R$ 2,816,874.20	R$ 2,999,971.03	R$ 3,194,969.14	R$ 3,402,642.14
	Salários	R$ 2,500.00	R$ 975,000.00	R$ 1,038,375.00	R$ 1,105,869.38	R$ 1,177,750.88	R$ 1,254,304.69	R$ 1,335,834.50	R$ 1,422,663.74	R$ 1,515,136.88	R$ 1,613,620.78	R$ 1,718,506.13
	Encargos	R$ 2,000.00	R$ 780,000.00	R$ 830,700.00	R$ 884,695.50	R$ 942,200.71	R$ 1,003,443.75	R$ 1,068,667.60	R$ 1,138,130.99	R$ 1,212,109.51	R$ 1,290,896.62	R$ 1,374,804.90
	Benefícios	R$ 250.00	R$ 97,500.00	R$ 103,837.50	R$ 110,586.94	R$ 117,775.09	R$ 125,430.47	R$ 133,583.45	R$ 142,266.37	R$ 151,513.69	R$ 161,362.08	R$ 171,850.61
	Material Limpeza	R$ 4,500.00	R$ 54,000.00	R$ 57,510.00	R$ 61,248.15	R$ 65,229.28	R$ 69,469.18	R$ 73,984.68	R$ 78,793.68	R$ 83,915.27	R$ 89,369.77	R$ 95,178.80
	Decoração	R$ 2,000.00	R$ 24,000.00	R$ 25,560.00	R$ 27,221.40	R$ 28,990.79	R$ 30,875.19	R$ 32,882.08	R$ 35,019.42	R$ 37,295.68	R$ 39,719.90	R$ 42,301.69
	(-) Custos Variáveis		R$ 149,467.50	R$ 163,560.42	R$ 178,982.12	R$ 195,857.90	R$ 214,324.85	R$ 234,533.00	R$ 256,646.53	R$ 280,845.09	R$ 307,325.27	R$ 336,302.21
	Amenities	R$ 2.50	R$ 106,762.50	R$ 116,828.87	R$ 127,844.37	R$ 139,898.50	R$ 153,089.18	R$ 167,523.57	R$ 183,318.95	R$ 200,603.64	R$ 219,518.05	R$ 240,215.86
	Lavanderia	R$ 1.00	R$ 42,705.00	R$ 46,731.55	R$ 51,137.75	R$ 55,959.40	R$ 61,235.67	R$ 67,009.43	R$ 73,327.58	R$ 80,241.45	R$ 87,807.22	R$ 96,086.34
	(-) Outras Despesas Operac	R$ 25,000.00	R$ 300,000.00	R$ 319,500.00	R$ 340,267.50	R$ 362,384.89	R$ 385,939.91	R$ 411,026.00	R$ 437,742.69	R$ 466,195.96	R$ 496,498.70	R$ 528,771.12
	Resultado Hospedagem		R$ 8,454,291.00	R$ 9,316,750.73	R$ 10,264,775.81	R$ 11,306,709.98	R$ 12,451,701.63	R$ 13,709,780.86	R$ 15,091,943.78	R$ 16,610,245.02	R$ 18,277,898.87	R$ 20,109,390.12
	Alimentação e Bebidas
	Receita bruta alimentos	R$ 35.00	R$ 2,690,415.00	R$ 2,944,087.50	R$ 3,221,678.15	R$ 3,525,442.13	R$ 3,857,847.26	R$ 4,221,594.03	R$ 4,619,637.58	R$ 5,055,211.66	R$ 5,531,854.93	R$ 6,053,439.70
	Receita bruta bebidas	R$ 10.00	R$ 768,690.00	R$ 841,167.86	R$ 920,479.47	R$ 1,007,269.18	R$ 1,102,242.07	R$ 1,206,169.72	R$ 1,319,896.45	R$ 1,444,346.19	R$ 1,580,529.98	R$ 1,729,554.20
	Receita bruta alim passante	R$ 5.25	R$ 403,562.25	R$ 441,613.13	R$ 483,251.72	R$ 528,816.32	R$ 578,677.09	R$ 633,239.10	R$ 692,945.64	R$ 758,281.75	R$ 829,778.24	R$ 908,015.95
	Receita bruta bebi passante	R$ 1.50	R$ 115,303.50	R$ 126,175.18	R$ 138,071.92	R$ 151,090.38	R$ 165,336.31	R$ 180,925.46	R$ 197,984.47	R$ 216,651.93	R$ 237,079.50	R$ 259,433.13
	Total receita bruta A&B	R$ 51.75	R$ 3,977,970.75	R$ 4,353,043.67	R$ 4,763,481.27	R$ 5,212,618.01	R$ 5,704,102.73	R$ 6,241,928.32	R$ 6,830,464.14	R$ 7,474,491.52	R$ 8,179,242.64	R$ 8,950,442.98
	Impostos sobre receitas	R$10.35	R$ 795,594.15	R$ 870,608.73	R$ 952,696.25	R$ 1,042,523.60	R$ 1,140,820.55	R$ 1,248,385.66	R$ 1,366,092.83	R$ 1,494,898.30	R$ 1,635,848.53	R$ 1,790,088.60
	Total receita líquida A&B		R$ 3,182,376.60	R$ 3,482,434.93	R$ 3,810,785.02	R$ 4,170,094.41	R$ 4,563,282.19	R$ 4,993,542.66	R$ 5,464,371.31	R$ 5,979,593.22	R$ 6,543,394.11	R$ 7,160,354.39
	(-) Custos Fixos		R$ 1,333,800.00	R$ 1,420,497.00	R$ 1,512,829.31	R$ 1,611,163.21	R$ 1,715,888.82	R$ 1,827,421.59	R$ 1,946,204.00	R$ 2,072,707.25	R$ 2,207,433.23	R$ 2,350,916.39
	Salários	R$ 2,700.00	R$ 702,000.00	R$ 747,630.00	R$ 796,225.95	R$ 847,980.64	R$ 903,099.38	R$ 961,800.84	R$ 1,024,317.89	R$ 1,090,898.56	R$ 1,161,806.96	R$ 1,237,324.41
	Encargos	R$ 2,160.00	R$ 561,600.00	R$ 598,104.00	R$ 636,980.76	R$ 678,384.51	R$ 722,479.50	R$ 769,440.67	R$ 819,454.31	R$ 872,718.84	R$ 929,445.57	R$ 989,859.53
	Benefícios	R$ 270.00	R$ 70,200.00	R$ 74,763.00	R$ 79,622.60	R$ 84,798.06	R$ 90,309.94	R$ 96,180.08	R$ 102,431.79	R$ 109,089.86	R$ 116,180.70	R$ 123,732.44
	(-) Custos Variáveis		R$ 1,270,260.23	R$ 1,390,029.89	R$ 1,521,092.33	R$ 1,664,512.32	R$ 1,821,455.03	R$ 1,993,195.47	R$ 2,181,128.89	R$ 2,386,782.08	R$ 2,611,825.79	R$ 2,858,088.31
	Custos Alimentos		R$ 928,193.18	R$ 1,015,710.19	R$ 1,111,478.96	R$ 1,216,277.54	R$ 1,330,957.30	R$ 1,456,449.94	R$ 1,593,774.97	R$ 1,744,048.02	R$ 1,908,489.95	R$ 2,088,436.70
	Custos Bebidas		R$ 265,198.05	R$ 290,202.91	R$ 317,565.42	R$ 347,507.87	R$ 380,273.52	R$ 416,128.55	R$ 455,364.28	R$ 498,299.43	R$ 545,282.84	R$ 596,696.20
	Lavanderia	1	R$ 76,869.00	R$ 84,116.79	R$ 92,047.95	R$ 100,726.92	R$ 110,224.21	R$ 120,616.97	R$ 131,989.65	R$ 144,434.62	R$ 158,053.00	R$ 172,955.42
	(-) Outras Despesas Operac	1000	R$ 12,000.00	R$ 12,780.00	R$ 13,610.70	R$ 14,495.40	R$ 15,437.60	R$ 16,441.04	R$ 17,509.71	R$ 18,647.84	R$ 19,859.95	R$ 21,150.84
	Resultado A&B		R$ 566,316.38	R$ 659,128.05	R$ 763,252.68	R$ 879,923.48	R$ 1,010,500.74	R$ 1,156,484.56	R$ 1,319,528.72	R$ 1,501,456.05	R$ 1,704,275.15	R$ 1,930,198.84
	Despesas Operacionais
	Despess Admin Geral		900,000.00	958,500.00	1,020,802.50	1,087,154.66	1,157,819.72	1,233,078.00	1,313,228.07	1,398,587.89	1,489,496.10	1,586,313.35
	Despesa Mkt, Vendas, Franquia		610,000.00	649,650.00	691,877.25	736,849.27	784,744.47	835,752.86	890,076.80	947,931.79	1,009,547.36	1,075,167.94
	Despesas com Manutenção		400,000.00	426,000.00	453,690.00	483,179.85	514,586.54	548,034.67	583,656.92	621,594.62	661,998.27	705,028.16
	Despesas com Utilidades		720,000.00	766,800.00	816,642.00	869,723.73	926,255.77	986,462.40	1,050,582.45	1,118,870.31	1,191,596.88	1,269,050.68
	Total Despesas Operacionais		2,630,000.00	2,800,950.00	2,983,011.75	3,176,907.51	3,383,406.50	3,603,327.92	3,837,544.24	4,086,984.62	4,352,638.62	4,635,560.13
	Taxa de Administração
	Taxa Básica		R$ 490,582.23	R$ 536,838.00	R$ 587,455.11	R$ 642,844.79	R$ 703,457.02	R$ 769,784.22	R$ 842,365.25	R$ 921,789.76	R$ 1,008,703.01	R$ 1,103,811.10
	Taxa de Incentivo		R$ 721,648.59	R$ 798,070.30	R$ 882,242.28	R$ 974,930.68	R$ 1,076,976.19	R$ 1,189,301.23	R$ 1,312,917.80	R$ 1,448,936.09	R$ 1,598,573.92	R$ 1,763,167.12
	Total Taxa de Administração		R$ 1,212,230.82	R$ 1,334,908.30	R$ 1,469,697.39	R$ 1,617,775.46	R$ 1,780,433.21	R$ 1,959,085.45	R$ 2,155,283.05	R$ 2,370,725.85	R$ 2,607,276.93	R$ 2,866,978.22
	Despesas Fixas
	Aluguel		R$ 80,000.00	R$ 85,200.00	R$ 90,738.00	R$ 96,635.97	R$ 102,917.31	R$ 109,606.93	R$ 116,731.38	R$ 124,318.92	R$ 132,399.65	R$ 141,005.63
	Total Despesas Fixas		R$ 80,000.00	R$ 85,200.00	R$ 90,738.00	R$ 96,635.97	R$ 102,917.31	R$ 109,606.93	R$ 116,731.38	R$ 124,318.92	R$ 132,399.65	R$ 141,005.63
	Depreciação e Amortização
	Depreciação e Amortização		R$ 660,000.00	R$ 660,000.00	R$ 660,000.00	R$ 660,000.00	R$ 660,000.00	R$ 660,000.00	R$ 660,000.00	R$ 660,000.00	R$ 660,000.00	R$ 660,000.00
	Total Despesas Fixas		R$ 660,000.00	R$ 660,000.00	R$ 660,000.00	R$ 660,000.00	R$ 660,000.00	R$ 660,000.00	R$ 660,000.00	R$ 660,000.00	R$ 660,000.00	R$ 660,000.00
	LAIR		R$ 4,438,376.56	R$ 5,094,820.48	R$ 5,824,581.35	R$ 6,635,314.51	R$ 7,535,445.36	R$ 8,534,245.10	R$9,641,913.83	R$ 10,869,671.69	R$ 12,229,858.81	R$ 13,736,044.99
	Impostos sobre Pessoa Jurídica
	CSSL		R$ 399,453.89	R$ 458,533.84	R$ 524,212.32	R$ 597,178.31	R$ 678,190.08	R$ 768,082.06	R$ 867,772.24	R$ 978,270.45	R$ 1,100,687.29	R$ 1,236,244.05
	IRPJ		R$ 1,109,594.14	R$ 1,273,705.12	R$ 1,456,145.34	R$ 1,658,828.63	R$ 1,883,861.34	R$ 2,133,561.28	R$ 2,410,478.46	R$ 2,717,417.92	R$ 3,057,464.70	R$ 3,434,011.25
	Total de Impostos s/ PJ		R$ 1,509,048.03	R$ 1,732,238.96	R$ 1,980,357.66	R$ 2,256,006.93	R$ 2,562,051.42	R$ 2,901,643.33	R$ 3,278,250.70	R$ 3,695,688.37	R$ 4,158,152.00	R$ 4,670,255.30
	Resultado Líquido		R$ 2,929,328.53	R$ 3,362,581.51	R$ 3,844,223.69	R$ 4,379,307.58	R$ 4,973,393.94	R$ 5,632,601.77	R$ 6,363,663.13	R$ 7,173,983.31	R$ 8,071,706.82	R$ 9,065,789.69
	(+) Depreciação		R$ 660,000.00	R$ 660,000.00	R$ 660,000.00	R$ 660,000.00	R$ 660,000.00	R$ 660,000.00	R$ 660,000.00	R$ 660,000.00	R$ 660,000.00	R$ 660,000.00
	(-) CAPEX		R$ 132,000.00	R$ 132,000.00	R$ 132,000.00	R$ 132,000.00	R$ 132,000.00	R$ 132,000.00	R$ 132,000.00	R$ 132,000.00	R$ 132,000.00	R$ 132,000.00
	Capital de Giro (NLDCG)		R$ 420,499.05	R$ 460,146.86	R$ 503,532.95	R$ 551,009.82	R$ 602,963.16	R$ 659,815.04	R$ 722,027.36	R$ 790,105.51	R$ 864,602.58	R$ 946,123.80
	(-) Variação da NLDCG		R$ 420,499.05	R$ 39,647.80	R$ 43,386.10	R$ 47,476.86	R$ 51,953.34	R$ 56,851.89	R$ 62,212.31	R$ 68,078.15	R$ 74,497.07	R$ 81,521.22
	FLUXO DE CAIXA OPERACIONAL		R$ 3,036,829.47	R$ 3,850,933.71	R$ 4,328,837.59	R$ 4,859,830.72	R$ 5,449,440.60	R$ 6,103,749.88	R$ 6,829,450.82	R$ 7,633,905.16	R$ 8,525,209.74	R$ 9,512,268.48
	(-) Investimento/pagamentos	R$ 4,950,000.00	R$ 2,714,057.44	R$ 2,714,057.44	R$ 2,714,057.44	R$ 2,714,057.44	R$ 2,714,057.44	R$ 2,714,057.44	R$ 2,714,057.44	R$ 2,714,057.44	R$ 2,714,057.44	R$ 2,714,057.44
	FLUXO DE CAIXA LIVRE	-R$ 4,950,000.00	R$ 322,772.04	R$ 1,136,876.27	R$ 1,614,780.16	R$ 2,145,773.28	R$ 2,735,383.17	R$ 3,389,692.44	R$ 4,115,393.38	R$ 4,919,847.72	R$ 5,811,152.31	R$ 6,798,211.04
	FLUXO DE CAIXA DESCONTADO	-R$ 4,950,000.00	R$ 273,535.63	R$ 816,486.84	R$ 982,805.06	R$ 1,106,765.99	R$ 1,195,661.19	R$ 1,255,648.99	R$ 1,291,925.00	R$ 1,308,867.25	R$ 1,310,159.57	R$ 1,298,896.57
	FLUXO DE CAIXA ACUMULADO	-R$ 4,950,000.00	-R$ 4,676,464.37	-R$ 3,859,977.53	-R$ 2,877,172.48	-R$ 1,770,406.49	-R$ 574,745.30	R$ 680,903.69	R$ 1,972,828.69	R$ 3,281,695.95	R$ 4,591,855.52	R$ 5,890,752.08
	TMA	18.0%
	VPL	R$ 5,890,752.08
	TIR	35.3%			3,440.13
	PAYBACK DESCONTADO	5 anos, 5 meses e 17 dias			167.07	17.1
	IL	2.2			5.57
	ROI	119.0%
	Inversão de sinal	0	0			0		1	0
	Tempo	0	1			4		6	7
	Colunas	B	C			F		H	I
	INFLAÇÃO ANUAL	6.5%
Fortaleza
	TCM			HOTEL SOLARIUM
	Investimento Inicial	0.00				Taxa ocupação múltipla				Total UHs
			p/ UH construída
	ANOS	0	1	2	3	4	5	6	7	8	9	10
	% Ocupação		70%
	Unidades Ocupadas		0
	Diária Média		R$ 340.00
	Número Hóspedes		0
	Hospedagem
	Receitas
	Impostos s/ receitas
	Total Líquido Receitas		R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00
	(-) Custos Fixos		R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00
	Salários
	Encargos
	Benefícios
	Material Limpeza
	Decoração
	(-) Custos Variáveis		R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00
	Amenities
	Lavanderia
	(-) Outras Despesas Operac
	Resultado Hospedagem		R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00
	Alimentação e Bebidas
	Receita bruta alimentos
	Receita bruta bebidas
	Receita bruta alim passante
	Receita bruta bebi passante
	Total receita bruta A&B
	Impostos sobre receitas
	Total receita líquida A&B		R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00
	(-) Custos Fixos		R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00
	Salários
	Encargos
	Benefícios
	(-) Custos Variáveis		R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00
	Custos Alimentos
	Custos Bebidas
	Lavanderia
	(-) Outras Despesas Operac
	Resultado A&B		R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00
	Despesas Operacionais
	Despess Admin Geral
	Despesa Mkt, Vendas, Franquia
	Despesas com Manutenção
	Despesas com Utilidades
	Total Despesas Operacionais		0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	Taxa de Administração
	Taxa Básica
	Taxa de Incentivo
	Total Taxa de Administração		R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00
	Despesas Fixas
	Aluguel
	Total Despesas Fixas		R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00
	Depreciação e Amortização
	Depreciação e Amortização
	Total Despesas Fixas		R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00
	LAIR		R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00
	Impostos sobre Pessoa Jurídica
	CSSL
	IRPJ
	Total de Impostos s/ PJ		R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00
	Resultado Líquido		R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00
	(+) Depreciação		R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00
	(-) CAPEX		R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00
	Capital de Giro (NLDCG)		R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00
	(-) Variação da NLDCG		R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00
	FLUXO DE CAIXA OPERACIONAL		R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00
	(-) Investimento/pagamentos	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00
	FLUXO DE CAIXA LIVRE	0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00	R$ 0.00
	FLUXO DE CAIXA DESCONTADO
	FLUXO DE CAIXA ACUMULADO
	TMA	18.0%
	VPL
	TIR
	PAYBACK DESCONTADO
	IL
	ROI
				 
	Inversão de sinal	0	ERROR:#DIV/0!	ERROR:#DIV/0!	ERROR:#DIV/0!			ERROR:#DIV/0!	ERROR:#DIV/0!	ERROR:#DIV/0!	ERROR:#DIV/0!	ERROR:#DIV/0!
	Tempo	0	1	2	3			6	7	8	9	10
	Colunas	B	C	D	E			H	I	J	K	L
Resumo
		Indicadores	Rio de Janeiro	Fortaleza	Justificativa da Escolha
		VPL	5,890,752.08	- 0
		TIR	35%	0%
		Payback	5 anos, 5 meses e 17 dias	0
		IL	2.19	0.00
		ROI	119%	0%