公司财务管理题库

第iii部分1.flemingcompany、 a food distributor isconsideringraplicallinglititsoklahomacitywarehouse.theinstitylinelusprarcedserverallearsaleasour 000.theline 000，andflrmingmanagementferitioncodulledestoderthelimentionfor $ 150，000.anew increncessaccedcationlinencenternanbeprurchasedfor $ 000.derinstallandinstalllationofthen 000.assuming Flemingsmarginalrateis 40 percent，compatingthenetinventitentforthewline。2.IFC (internationalfoodscorporation ) contrinternationalfoodscorporation (IFC ) contrationtyprocesseafodewithautitprurche 000，货币000.ifcisconsideringreplacingtheexistingunitwithanewer moreefefficientetone.thenewunitwillcost $ 700， 000 andwillrequireanadditional $ 50 000 fordeliveryandinstallation.thenwernewullumentsallirequireificttoininininininini erwillbedepreciatedonastraight-linebasisover5yearstoazerobalance.ifcexpectstoselltheexistingunitfor $ 275，000.IFCsmarginaltaxranceifficcifficccomputethenewunit，annualrevenuesareexpectedtoincreasby $ 100， 000 (duetoincreasedeprocessingcapacity ) andannualoperatcosts (exclusiveofdeprecation ) ateexpectedtodecreasby $ 20 000.annualrevenuesandoperatingcostsareeshipecdettoremaincontinstatitythisnewlereleverleveovertheproject gprocityinventwilincreaseby $ 10，000 perpreverovethelifeoftheproject.after5years thenewillbecomplementprotedatrefor $ 50，000 per .a.calculatetheprojectsnelinvestent .b.calculatetheannualnetcashflowsfortheproject3. Nguyen，Inc.isconsinsideringthepurcesofanewcomputersystem (icx ) for $ 130， 000.thesystemwilrequireanadditional $ 30 000 for installation.ifthenewcomputerisprurchateditwillreplandardsystemthathenewillbederect veraperiodof 10 yearsusingstraight-linedepreciion.iftheicxispurphased，theoldsystemwillbesolefor$20， 000.theicxsystem which has a useful life of 10 years， isexpectedtoincreaserevenesby $ 32 000 perprenareveitsusefulwife.operationcossareexpecdecttodecreasby $ 2，000 perprenareverthefirmisiona.whattnetinetinventisrequiretoacquiretheicxsystemandreplacetheoldsystem？putetheannualnetcashflows相关4.Ben Ford Inc.isplanningtoopenanewsportinggoodstoinasuburbanmall.benfordwilleastneededspaceinthemall.equpmentandfixturesforth 0 000 andbedepreciatedovera5- yearperiodonastraight-linebasisto $0. thenewrestorewilrequirrebenfordtoincreasitsnetworkingcapitalby t-yearsalesareeshipedtobe $1millionandtoincreaseannualrateof8percentovertheexpected 10-yearlifeofthestor e.operating expenses (incc ndexcludingdeprecition ) areprojectedtobe $ 700 000 dundingthefirestrifirenerandincreasesa7percannualrate.thesalvagevalueofthestore fixtureisantiprincipaltedtobe $ 10 000 at the endo f 10 years.Ben Fordsmarginaltaxrateis 40 percent。a.ecompotetthenetinventrequiredforbenford .potettheannualnetcashflowsforthe 10-yearprojectedlifeofthestore .5.compativethenetrepriveveofaprojectwithanetinventof $ 20， 000 forequipmentandandadditionnetworkingcapitalinventof $5000a ttime0. theprojectisesexpectdenttogeneratenetcashflowsof $ 7， 000 peryearovera 10-yearestimatedconomiclife.Inc addition thenetworkingcapitalwillberecoveredattheendoftheproject.thereqrequirerrect ntandthecomputionashamargininalt axrateof 40 percent.whatisthemaningofthecomputednetpresentvaluefigure？6.compatetheinternalreteforrenternationandprofideforaprojectthatisesexpectiontogrene 000.theprojecthasanetinvestentof $ 360，000 aa7.2 mutuallyexclusiveprojectsvhavethefollowingexpectedsflow :年gh0123- $ 10，000五千五千五千- $ 10，0000017，000patetheinternalreteforreturnforeachproject .pativethenetpresentvalueforeachproject，assummingthefirmsweightedcostofcapitalis 12 percent。c. Which project should be adopted？ 为什么？8. Jefferson Products， Inc .isconsideringpurchasinganewautomaticpressbrake，which costs # 300 000 includinginstallinstallationandshipping.themechisepecdtogeneratenetcashinflowsof $ 80 000 peryearfor 10 years.at the endo f 10 years thebookvalueifthemachinewillbe $0anditisandisancationdthementhemachinewillbesolefor $ 100， 000.ifthepressbrakeprojectisundertaken杰斐逊在10年前就已经需要longerwillbea，并且现在可以为杰斐逊使用了a.calculatethepressbrakesnetpresentvalue。b.