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410140980 · 2021年11月12日

operating income after taxes 和operating income 以及NI

* 问题详情，请查看题干

NO.PZ201601200500000901

问题如下：

1. What terminal selling price is required for a 15 percent internal rate of return on the Richie project?

选项：

A.

$588,028

B.

$593,771.

C.

$625,839.

解释：

C is correct.

The after-tax operating cash flow for each of the next three years is $20,000 + $40,000 = $60,000. The book value in three years will be $380,000 (the original cost less three years’ depreciation). So the terminal year after-tax non-operating cash flow will be $Sal_3$ – 0.30( $Sal_3$ –$380,000), where $Sal_3$ is the selling price. For a 15 percent return, the PV of future cash flows must equal the investment:

$500000=\frac{60000}{1.15}+\frac{60000}{1.15^2}+\frac{60000}{1.15^3}+\frac{Sal_3-0.30(Sal_3-380000)}{1.15^3}$

There are several paths to follow to solve for $Sal_3$ .

${l}363006.5=\frac{Sal_3-0.3(Sal_3-380000)}{1.15^3}\\Sal_3-0.30{(Sal_3-380000)}=552087.5\\0.70Sal_3=438087.5\\Sal_3=\$625839$

老师请教一下operating income after taxes 是不是就是EBIT*(1-T)?

operating income就是EBIT 有时候也叫earning before interest and tax对吗？

那NI和operating income after taxes 的区别是？

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王琛_品职助教 · 2021年11月12日

嗨，爱思考的PZer你好：

1）operating income after taxes 是不是就是EBIT*(1-T)

是滴

2）operating income就是EBIT 有时候也叫earning before interest and tax对吗？

是滴，earning before interest and tax，除了单词 and，剩余单词每个单词的首字母，放到一起就是 EBIT 哈

3）那NI和operating income after taxes 的区别是？

(EBIT-Int)(1-T)=NI

EBIT 是息税前利润，EBIT-int 是息税前利润减掉了利息，从字面上就能看出来变成了税前利润，然后整体再乘以1-t，就变成了税后利润，也就是NI

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虽然现在很辛苦，但努力过的感觉真的很好，加油！

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NO.PZ201601200500000901 问题如下 1. Whterminselling priis requirefor a 15 percent internrate of return on the Richie project? A.$588,028 B.$593,771. C.$625,839. C is correct.The after-toperating cash flow for eaof the next three years is $20,000 + $40,000 = $60,000. The book value in three years will $380,000 (the origincost less three years’ preciation). So the terminyeafter-tnon-operating cash flow will Sal3Sal_3Sal3 – 0.30(Sal3Sal_3Sal3 –$380,000), where Sal3Sal_3Sal3 is the selling price. For a 15 percent return, the PV of future cash flows must equthe investment:500000=600001.15+600001.152+600001.153+Sal3−0.30(Sal3−380000)1.153500000=\frac{60000}{1.15}+\frac{60000}{1.15^2}+\frac{60000}{1.15^3}+\frac{Sal_3-0.30(Sal_3-380000)}{1.15^3}500000=1.1560000+1.15260000+1.15360000+1.153Sal3−0.30(Sal3−380000)There are severpaths to follow to solve for Sal3Sal_3Sal3.l363006.5=Sal3−0.3(Sal3−380000)1.153Sal3−0.30(Sal3−380000)=552087.50.70Sal3=438087.5Sal3=$625839{l}363006.5=\frac{Sal_3-0.3(Sal_3-380000)}{1.15^3}\\Sal_3-0.30{(Sal_3-380000)}=552087.5\\0.70Sal_3=438087.5\\Sal_3=\$625839l363006.5=1.153Sal3−0.3(Sal3−380000)Sal3−0.30(Sal3−380000)=552087.50.70Sal3=438087.5Sal3=$625839 如果是用代入法，怎么用计算器计算呢？能否告知一下按键顺序，谢谢

2022-10-05 09:59 1 · 回答

NO.PZ201601200500000901问题如下1. Whterminselling priis requirefor a 15 percent internrate of return on the Richie project? A.$588,028 B.$593,771. C.$625,839. C is correct.The after-toperating cash flow for eaof the next three years is $20,000 + $40,000 = $60,000. The book value in three years will $380,000 (the origincost less three years’ preciation). So the terminyeafter-tnon-operating cash flow will Sal3Sal_3Sal3 – 0.30(Sal3Sal_3Sal3 –$380,000), where Sal3Sal_3Sal3 is the selling price. For a 15 percent return, the PV of future cash flows must equthe investment:500000=600001.15+600001.152+600001.153+Sal3−0.30(Sal3−380000)1.153500000=\frac{60000}{1.15}+\frac{60000}{1.15^2}+\frac{60000}{1.15^3}+\frac{Sal_3-0.30(Sal_3-380000)}{1.15^3}500000=1.1560000+1.15260000+1.15360000+1.153Sal3−0.30(Sal3−380000)There are severpaths to follow to solve for Sal3Sal_3Sal3.l363006.5=Sal3−0.3(Sal3−380000)1.153Sal3−0.30(Sal3−380000)=552087.50.70Sal3=438087.5Sal3=$625839{l}363006.5=\frac{Sal_3-0.3(Sal_3-380000)}{1.15^3}\\Sal_3-0.30{(Sal_3-380000)}=552087.5\\0.70Sal_3=438087.5\\Sal_3=\$625839l363006.5=1.153Sal3−0.3(Sal3−380000)Sal3−0.30(Sal3−380000)=552087.50.70Sal3=438087.5Sal3=$625839The after-toperating cash flow for eaof the next three years is $20,000 + $40,000 = $60,000$40,000作为preciation为何要加上？

2022-04-01 22:52 1 · 回答

NO.PZ201601200500000901 这题不是很理解为什么折现求和=500000的公式，不是求terminvalue？这题的解题思路能讲一下吗，有无从下手的感觉。

2022-01-12 15:32 1 · 回答

用代入法算，把答案打进去算出来也不对的？

2020-06-28 11:33 1 · 回答