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Financial Exercises 5: Investment Timing: Unterschied zwischen den Versionen
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Financial Exercises 5: Investment Timing (Quelltext anzeigen)
Version vom 5. Januar 2012, 11:07 Uhr
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a. Calculate the additional annual cash flow and the opportunity cost of capital for deferring the felling to years 11 to 15. Calculate the difference between additional cash flows and opportunity costs (the economic value added) for years 11 to 15. <br/> | |||
b. Calculate for years 11 to 15 the percentage change of revenues compared to the previous year.<br/> | |||
c. Calculate the present values of felling in years 11 to 15.<br/> | |||
d. Given your calculations, what is the best year for felling the trees?<br/> | |||
=== 2. Timing of [[Ersatzproblem|replacement]] (the case of perpetual investment chains) === | === 2. Timing of [[Ersatzproblem|replacement]] (the case of perpetual investment chains) === | ||
John Walden plans to reuse the area for the next generation of christmas trees of the same kind. Hence, the same expected revenues apply again after the life cycle of the trees.<br/> | John Walden plans to reuse the area for the next generation of christmas trees of the same kind. Hence, the same expected revenues apply again after the life cycle of the trees.<br/> | ||
a. Calculate the annuity of the revenues over the different lifetimes (11 to 15 years).<br/> | |||
b. At what age is it best to fell the christmas trees in this case?<br/> | |||
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a. Forecast the cash flows for each year until the sales year.<br/> | |||
b. Calculate the NPVs if the wine is sold after year 1, 2, …, 5. Which is the best year to put the wine into market?<br/> | |||
c. Since the barrels that guarantee the extraordinary flavour of Jim Wean’s wines are scarce and hard to get, they are reused. What does this mean for the best age of marketing Jim Wean’s wines? Compare the annuities.<br/> | |||