有無人識計呢條數

零式月

(b) Your client would like to purchase a shop in Causeway Bay which is for sale at $28Million. It is estimated that the shop would command the following net rent by the end of each year:

Years 1-3
$ 2,000,000 p.a.  

Years 4-6
$ 2,400,000 p.a.

Years 7-9
$ 3,000,000 p.a.

Years10-12
$  3,500,000 p.a.

Years 13- perpetuity
$  4,000,000 p.a.



i. Assuming that the discount rate is 10%, calculate the Net Present Value (NPV) of the above investment opportunity.
ii. Assuming the target rate of return is 11%, explain whether you would advise the investor to purchase this investment. If so, why?

乂含你爸條J乂

accounting睇落幾易

『浩～哥仔』

ACCOUNT野...
咪問我

小岡_wing

係咪survey?

小岡_wing

有2個方法
Conventional Method
同
DCF Method

你果條應該用DCF Method
第一條只係每期Cash flow X YP X PV = Capital value
+哂每期既CV就=TOTAL VALUE(NPV)
第2條用11%再計,睇返個TV同SALE COST合唔合理
少過既賣唔過


順帶Conventional Method
係用RENT再YP上去計返CAPITAL VALUE,快好多
例如RENT X YP ( A YEARS)+FRV X YP (perp. Def. A YEARS)=NPV

我讀ES,希望幫到手,QQ

魔法之蠍

好深 睇唔明

零式月

Consider an asset A purchased for $20,000 which will generate thefollowing estimated incomes : Year 1 - $3000; Year 2 - $5000; Year 3 - $6000;Year 4 - $3000; Year 5 - $6500; Year 6 - $5750; Year 7 - $3000.
In Year 4 – maintenance cost will be $1000 and at the end of Yearthe asset will be disposed of for $1500. If a borrowing rate of 10% per annumis required, completed the following table:
(Also try 14%)

Yr
Cash flow        PV $1 @10%        DCF        PV $1 @14%        DCF
0        - 20,000        1.000        -20,000        1.000        - 20,000
1        3,000        0.909        2,727        0.877        2,631
2        5,000        0.826        4,130        0.769        3,845
3        6,000        0.751        4,506        0.675        4,050
4        3,000                               
        -1,000        0.683        1,366        0.592        1,184
5        6,500        0.621        4,037        0.519        3,373
6        5,750        0.564        3,243        0.456        2,622
7        3,000                               
        1,500        0.513        2,308        0.400        1,800
                        NPV                2,317                         -  495

零式月

1. 呢條數點解要做多個PV $1 @14%? 點解要係14%?

黑雪姬

ACCOUNT
好雜-0- 看唔通

零式月

Years 13- perpetuity
$  4,000,000 p.a.
呢個點計

卍中仔卍

我數學好差.....

小岡_wing

零式月 發表於 12-4-30 11:55 PM
1. 呢條數點解要做多個PV $1 @14%? 點解要係14%?

E條數目的睇下投資既賺定蝕,假設唔同既PV值就可以睇到"如果個PV%到某一個數值就賺錢,否則就蝕"
點解一定係14%,係呀SIR SET,冇得解,你SET左15% 16%都冇所謂,目的都係一樣,睇賺定蝕

PS..好多人話係ACCT,但係E D數係測量.....(ES,物業估價)
誤解係ACCT唔重要,但話好易就真係...=.=

小岡_wing

零式月 發表於 12-5-5 10:42 PM
Years 13- perpetuity
$  4,000,000 p.a.
呢個點計

將YP@無限年份扣去YP@1-13年就得

小岡_wing

同埋仲有問題引用我D COMMENT,冇系統提示我答唔到你

零式月

小岡_wing 發表於 12-4-30 04:04 AM
有2個方法
Conventional Method
同

DCF method
Years 1-3             $  2,000,000 p.a.
即係
year 1  $  2,000,000 X 0.9091(YP) X 0.9091(PV)=1,652,925
year2   $  2,000,000 X 1.7355(YP) X 0.8264(PV)=2,868,434
year 3  $  2,000,000 X 2.4869(YP) X 0.7513(PV)=3,736,815

year 1-3 capital=1,652,925+2,868,434+3,736,815=8,258,174?

喜羊羊!

睇猛人做野仲好啦

零式月

小岡_wing 發表於 12-5-6 03:30 AM
將YP@無限年份扣去YP@1-13年就得

$  4,000,000 X 10%(YP) 無限- $  4,000,000 X 58.9666% (YP) year 1-13?

喜羊羊!

好似猛人已經出現

小岡_wing

零式月 發表於 12-5-6 06:02 PM
DCF method
Years 1-3             $  2,000,000 p.a.
即係

錯哂-,-

小岡_wing

零式月 發表於 12-4-30 12:16 AM
(b) Your client would like to purchase a shop in Causeway Bay which is for sale at $28Million. It is ...

Year                   Cash flow     YP@10%     PV@10%    CV
1-3                      2000000       2.4869           
4-6                      2400000       2.4869            0.7513
7-9                      3000000       2.4869            0.5645
10-12                  3500000       2.4869            0.4241
13-perpetuity      4000000      7.5131             0.3186
大約27MILLION