1500 ( 1) 3( / ) 5000 3 3000 9000( ) 1000 + 9000 (2) 230+ 40 50% 40( / ) 40 230 9200( ) 10000 9200 800( )

(2) 15000 3 45000( ) 45000 9000 2.4 15000 (3) 80000 (1 25 ) 60000( ) 60000 8( ) ( 6000 + 9000) 2 80000 5( ) ( 18000 + 14000) 2

(1) = 14365 +1000 10 = 14465( ) (2) 700 + ( 85400 79600) + ( 38800 40400) = 100 20000 + 79600+ 40400 2.5 (3) = 10110002.5 2750( )

60 + 118 (2) = 100 = 53.78 145 + 186 = 54 = 145 = 2.42 242 60

1. 3 1.31.7 2.35 ( ) 2

n xy x y b = 2 2 = ( ) n x ( x)

6 6920 48 830 ( 2) b = 2 6 448 48 = 4. 375( / ) 830 4. 375 48 a = 6 448 830 48 6920 [ = 2 ] 6 448 48 = 103. 33( ) y = 103. 33 + 4. 375x 900 (1) 450( ) 2 (2) 900450450( ) (3) = 900 30% = 3000( ) 450 (4) 1500( ) 30% 3000 1500 (5) = 100% 3000 [ = 1 1500 100%] = 50% 3000

28000 1000 (3)A 10 2.8( / ) 15 B 3( / ) 5

21600 (1) 20( ) 1080 120 2 21600 60( / ) 360

100000 ( 2) ( P / 5). 26700 374532 A A IRR= 10% IRR 12% 379079. 374532. IRR = 10% + ( 12% 10%) 379079. 360478. 10. 49% ( 3) IRR = 10. 49% i = 8% IRR = 10. 49% i = 12% c c

1 04734 39426 91035 54939 76873 2 10417 19688 83404 42038 48226 3 07514 48374 35658 38971 53779 4 52305 86925 16223 25946 90222 5 96357 11486 30102 82679 57983

= (10% - 20%) 2 2 2 0. 3 + ( 10% 10%) 0. 5 + ( 5% 10%) 0. 2 = 8.66 8. 66% 0.87 10% 3 1000 8% 1000 + ( n 3 1+ 10%) ( 1+ 10%) n= 1 80 2. 487 + 1000 0. 751 950 ( ) 1000 8% 1 33%) 950 ( 1 3)% ( 582%. 1000 50( ) 20

20 400 + 15 600 = 50 400 + 40 600 100% = 3864%. = ( 50 400 + 40 600) 38. 64% 10000 = 7000( )( 7001. 60) 20 600 + 15 400 = 50 600 + 40 400 100% = 3913%. = 1996 = 1050 28% = 3750( )

180000 60000 200% 60000 (DOL) 200% 40% 5 ( DTL) (DFL) ( DOL) 7. 5 15. 5 200% 15. 300% 3 35% = 300% 35% = 300% +

146000 33000 105000 33000 6000 20400 220000 24000 399000 155400 38000 120000 80000 65000 300000 185000 190000 340400 490000 400000 20000 128000 600 548600 889000 889000

7000 46800 31300 0 31300 3650 21945 205000 255 1000 0 244300 72650 380000 121000 98000 65000 282000 186000 291000 258650 573000 400000 20000

128000 10650 558650 817300 817300

24 18 17 62.77( ) 1+ 17% 200 396 66( ) 1000 + 200

A B C D

(3) 255000 30000 4500 8000 + + ( )

6500 150 6650

21000 5485 2965 29450 ( ) 1200 1300 800 19000 4600 2900 26500

22743 13300 3.42 2 6500 22230 13000 150 513 300 6650 22743 13300 21000 5485 2965 29450 93484 22230 13000 128714 654 654 113830 27715 15965 157510 ( ) 94830 23115 13065 131010 29 3.45 1.95 1200 1200 2520 34800 8694 4914 48408 1300 1430 2340 41470 8073 4563 54106 800 640 1840 18560 6348 3588 28496 19000 4600 2900 26500

500 14500 15000 44000 4000 40000 70000 8000 60000 2000 70000

2940 3000 0.98

500 8000 37000 700 3360 3600 44000 60000 6400 1136 37600 12224 82060 82060

N a 500 20 30( ) 50 ( EBIT Ia )( 1 T) (EBIT I b )(1 T) = N N a b ( EBIT 0)( 1 50%) (EBIT 45)(1 50% ) = 30 20 15000 10000( ) 15

+ 1 140700 150000 + 1 33% 15 24000( ) 2DK 2 36000 1250 Q 10 K c 3000( ) TC( Q)2 DK c K 2 36000 10 1250 30000( ) D Q 36000 12( ) 3000

315000 45. 70000( ) (3) (4) 4320002940007000025000 43000( ) 432000 294000 15. 92000( ) (5) = = 432000-240000 - 92000 = 100000( )

10 1000 15% 1000 P + ( t 1+ 15%) ( 1+ 15%) 10 t= 1 15% ( 1 34%) 10 1 1% 19. 4% 20 1 3% 1600 1000 10% 2000000 2000000 16001000 20 2000000 10 80 20 20 12 200 10 (3) (90 21 ) (1 34 ) 10 200 10 10 50 66 19 52( )

80000 5000 1000 800 86800 500 700 1200 85600 10000 900 300 100 11300 120 80 200 11100 9800 1500 400 300 12000 310 150 460 11540 4200 800 500 100 5600 110 70 180 5420 104000 8200 2200 1300 115700 1040 1000 2040 113660

( 86800 86800 ) 11300 11300 12000 12000 5600 5600 98100 12000 5600 115700

9400000 39480 9400000 39480 1300000 97500 160000 1200 150000 1125 13010000 97575 2240000 136980 160000 1200 150000 1125 22410000 137055 (1) = 200 1968 100 2000 + 50000 3.4 (2) = 30000 ( 3. 4 ) = 1020( )

150 (2) 10000 ( 1 9 ) 360 5 10000 ( 1 9 ) 12 10375( ) 60 ( 3) 10375 12 360 2 10375 12 12 2075. ( )

(8) [ 450 ( 1000 50) + 3302000] + 750 450 750 800 180000 1087500 101250 1188750( )

3000 ( 100 + 1500) 17 1+ 17% 3000 100 95% ( 1500) 17 41665.26( ) 1+17%

1 300000 1500000 2 210000 1050000 3 4000 24000 4 1670 19670 5 84330 406330 6 48000 7 16130 66130 8 2000 122000 9 66200 266200 10 12000 12000 11 12 1500 13500 13 2000 19000 14 2000 2000 15 75700 270700 16 21021 85371 17 54679 185329

A B C D = + = + = + = + 100% 100% 100% 100%

2050% (1) 1 100 20 20 + 30 20 + 3050% 2 100 70 20+ 30 (2) 1 100 20 20( ) 140( 2 200 70 ) 160( ) 2300 (3) 5 300 + 160

45000 100 9 500000 = 500 100% = 01% 5000000. 3000 100 0.6 500000 3000 1000.6 500000

3000 1000.6 500000