Nguyễn Ngọc Phan Văn

1. DAp AN DE 150414004
Cau 1 (2 di~m): (DVT: trieu d6ng)
- Nguyen gia cua TSCD:
NG =1.200 + 15 + 10 = 1.225
- Ty l~ khau hao dieu chinh:
1 1
T =-xKd =-x2=04
Kdc T c 5 '
Nam
Gia tri con lai S6 trich KH KH lily k€ Gia tri con Iai
diu nam d€n eU6i nam
,
trong nam eu6i narn
1 1.225 490 490 735
2 735 294 784 441
3 441 176,4 960,4 264,6
4 264,6 l32,3 1.092,7 l32,3
5 132,3 132,3 1.225 0
Cau 2 (3 di~m):(DVT: dAng)
a) Gia cua e6 phieu trong tnrong hop ty l~ tang tnrong e6 rue kh6ng d6i:
P, = do(1+g) = 2.000x(1+10%) ~36.66667
o k - g ~6%- ;'0% '
b) Gia cua e6 phieu co tY l~ tang tnrong e6 nrc kh6ng 6n dinh:
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2. d, = do(l+g1) = 2.000 x (1+10%) = 2.200
d2= do(l+g1)2 = 2.000 x (1+10%)2 = 2.420
d, = do(1+gli = 2.000 x (1+ 10%)3 = 2.662
Ps = d6 = 3.540 =35.396
k- g3 16%-6%
Can 3 (2 di~m): Ty s6 thanh toan hien hanh = TSLD/ NQ'ngan han = 3
~NQ' ngan han = TSLD/3 = 810.000/3 =270.000 trieu d6ng
Ty s6 thanh tom nhanh = (TSLD - Hang t6n khoj/No ng~n han = 1,4
~Hang t6n kho = TSLD - NQ'ngan han x 1,4
= 810.000 - 270.000 x 1,4 = 432.000 trieu d6ng
S6 yang quay hang t6n kho = Gia v6n hang bani Hang t6n kho = 6
~Gia v6n hang ban = 432.000 x 6 = 2.592.000 trieu d6ng
Theo gia thuyet: Gia v6n hang ban = 90% x Doanh thu thuan
~ Doanh thu thuan = Gia von hang bani 90% = 2.592.000/90% = 2.880.000 trieu dong
Ky thu ti€n binh quan = (Cac khoan phai thu/ Doanh thu thuan) x 360
Voi: Cac khoan phai thu = TSLD - (TiSn mat va clnrng khoan ngan han + Hang t6n
kho)
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3. = 810.000 - (120.000 + 432.000) = 258.000 trieu d6ng
~ Ky thu tiSn binh quan = (258.000/2.880.000) x 360 = 32,25 ngay
Can 4 (3 di~m):
a) NPV cua m6i du an:
500 1- (1+ 14%r5 48864·" d7..NPVx=-15.000+4. x ::::::4, tneu ong
14% .
6 00 1-(1+14%r5 10 ." d7..
NPVL =-3 .000+11.1 x ::::::2.7,199tneu ong
14% .
- MIRR cua m6i dir an:
• Du an X:
T6ng gia tri tuong lai cac khoan d~u nr thea chi phi su dung v6n cua du an:
4.500 X 1,144 + 4.500 X 1,143 + 4.500 x 1,142+ 4.500 x 1,14+ 4.500::::::29.745,469 trd
MIRR = 5 29.745,469 -1::::::0 1467 ha 1467%
x 15.000 ' y,
• Dir an L:
T6ng gia tri tuong lai cac khoan d~u nr thea chi phi su dung v6n cua du an:
11.100 x 1,144+ 11.100 x 1,143+ 11.100 x 1,142+ 11.100 x 1,14+ 11.100::::::73.372,156
trd
irr: > _73.372.156. r'-~Ol--- -- .....o
lVJ..llU.'X =) -1:::::: U,1).) lay 1),.) /0
36.000
b) Xet thea ca hai tieu chuan NPV va MIRR ta th~y du an L cho hieu qua kinh t~ cao
hon va ty suat hoan v6n n<)ib<)diSu chinh cling IOnhan, vi vay cong ty nen chon du an
L d~ d~u tu.
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