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有A、B、C三个独立的方案,其现金流量表如下所示。已知总投资限额为800万元,ic=10%,试判断最佳投资决策。
(单位:万元)
年份12-1011
A-3506280
B-2003951
C-4207697

问答题
2022-04-02 17:56
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正确答案
解:1)先进行A、B、C方案的绝对效果的检验。
NPV= –350(P/F,10%,1)+62 ( P/A,10%,9)(P/F,10%,1)+80(P/F,10%,11) = 34.46(万元)>0
NPVB=– 200(P/F,10%,1)+39( P/A,10%,9)(P/F,10%,1)+51(P/F,10%,11) = 40.24(万元)>0
NPVC=– 420(P/F,10%,1)+76( P/A,10%,9)(P/F,10%,1)+97(P/F,10%,11) = 50.08(万元)>0
2)进行相对效果的检验。利用互斥方案的组合法,组合方案有23-1=7,根据题意,列出主要的方案进行选优。
组合方案投资额NPV方案是否可行最优
A35034.46
B20040.24
C42050.08
A+B55074.7
A+C77084.54
B+C62090.32

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