求财务高手帮NPV跟IRR的题!超急!很着急!我是自己把英语翻译成中文的,希望这个题目你们能看得懂.某出版有限公司考虑购入一台机器打印贺卡.这个机器的价格是100,000,在第一年它会带来30,000现金流.这30,000 在第二年,第三年,第四年将增加10%.在这之后,这个项目将会停止,这个机器值10,000.该公司预计,这个项目每年的回报率是22%.1.计算这个项目的NPV和IRR2.该公司该进行这个投资项目吗?为什么?

Cash Flow Year-0 Year-1 Year-2 Year-3 Year-4
-100,000 30,000 33000 36300 49930
Cost of Capital 22%
NPV = -100000+30000/1.22+33000/1.22^2+36300/1.22^3+49930/1.22^4 = -10709.36
IRR = 17% (Applied the IRR function in Excel)
Conclusion:Since the negative NPV and the IRR is lower than the Cost of Capital,the company should better reject the investment plan.3
P.S.Cost of Capital is the estimated (expected) rate quantity.
IRR is the real (realizable) rate quantity.
Only if IRR > Cost of Capital and the NPV > 0,you can go with investment plan.
MBA @ ASU