1.DA.B.C.D.2.DA.B.C.D.1.ABCDA.B.C.D.E.2.ABCDA.B.C.D.1D2D1.ABCD2.ABCD1DABCD2(C)ABCD3.DA.B.C.D.4.DA.=B.=C.=--D.=--5.(B)ABCD6.CA.B.C.D.7DABCD8BABCD9BABCD10100024800BA0.204B0.213C4.898D4.70610DABCD1ACEABCDE2DEABCDE3ABCABCDE4.ABCDEABCDE5.ADEA.B.C.D.E.6ABCDABCDE7(BC)ABCDE8BCABCDE9.CDA.B.C.D.E.10.ABDEA.B.C.D.E.1.350026004008%1.DBC2.C3.D4D5.B6C7D8B10001-2%4800=0.2049B10B11D12B13A14A15C16D17C18B19C20A1.ACE2DE3.ABC4.ABCDE5.ADE6.ABCD7BC8BC9CD10ABDEI500/28%20I50020+600/28%65.6I520+665.6+400/28%110.848I=20+65.6+110.848=196.44812345671000100089101.650010%AA.2395.50B.1895.50C.1934.50D.2177.502,3,5500,10%,(B)1566.36A.1994.59B.1565.68C.1813.48D.1423.214m,riAABCD5500001012PA121056502AA8849B5000C6000D282517DABCD8.BABCD9A=P(APin)P(A)ABCD10100510%CA20B26.98C23.98D16.3812DABCD16DA.B.C.0D.181000BABCD19BA.B.C.D.1ABDA.B.C.D.4ACDAP/A,I,n=(P/F,I,n)*(F/A,I,n)B(P/F,I,n)=(P/F,I,n1)+(P/F,I,n2),n1+n2=nC(P/F,I,n)=(P/F,I,n1)*(P/F,I,n2),n1+n2=nD(F/A,I,n)=(F/P,I,n)/(A/P,I,n)E(F/A,I,n)=(F/P,I,n)/(P/A,I,n)5DEABCDE.7.CDA.B.C.D.E.8.ABDA.B.C.D.E.9.ACDA.B.C.D.E.10.ABCEA.B.C.D.E.0rii=er-11.2IRR345NPV0678NPVNFVNAV910IRRNPV=01ANPV100BNPV200BCIRR18%DIRR16%EA.AB.BC.CD.DE.2NPV0,(A).AB.C.D.310%310DA6000B.5374C.3000D.48854881410020NPVRBA020B.0.25C.0.30D.0.3510020805IRRCABCD7IRR0IRRIRRDABCD8,,,(B)ANPVBIRRCNPVRD10CABCD11BABCNPVDIRR12(C)ABCD1320000118001324015780BA.1B1.62C2D2.13143000950/66i=10%P/A10%6=4.35526[D]A1156B1231C1842D113715I0=14%NPV=18.8I1=13%I2=16%I3=17%NPV1=33.2NPV2=-6.1NPV3=-10.8BA.15.31%B.15.51%C.15.53%D.15.91%16DABCD17800ABCC%A40080.1515.4B30073.4517.7C20066.7518.6A.AB.CC.ABD.BC18.DA.0B.0C.D.20,(B).ABCD2112%101000A/P12%10=0177-15%1115010%AABCD222612345678-500-500300300300300300300-500-1000-700-400-100200500800-462.96-428.67238.15220.51204.17189.05175.05162.08-462.96-891.63-653.48-432.97-228.8-39.75135.3297.380DA5.536.13B.5.336.13C.5.536.23D.5.336.231ABABCD2ABABCD3,ACEABCDE4.ABCDAIRRBNPVCNFVD5,(CE)AIRRB,NPVC,NPVDIRR,NPV0EIRR,NPV06ACDA.B.C.D.E.7BCDAIRRBNPVNPVCNPVD8NPVNPVRIRRABCDANPV0NPVR0BNPV0IRRCNPV=0NPVR0DNPVR1IRR9BDEABNPV0C0DIRRENAV010.BCEA.B.ic=IRR=C.IRRD.icIRRE.11.ACEA.B.C.0D.E.12.BEA.B.C.D.E.13.BDA.B.C.D.E.14BDEABCDE1.2.3NPV4.5.6.1234561(C)A.B.C.D.2.IRR1IRR2icIRRDAIRR1IRR212BIRR1IRR212CIRRicDIRRic3.BA.B.C.D.4.A.B.C6000A2100110.505.262000409.1220.452500264.257.55A.BCB.ACC.ABD.ABC5.AA.B.C.D.6ABABABAA.IRRBAiCB.IRRBAiCC.IRRBA0D.IRRBA01.C2.D3.B4.A5A6A1.BCDEA.B.C.D.E.2.iC15%CDNPVNPVR(%)A8002607281.635.2B120030010305.625.2A.B.C.D.E.3.ABA2000081500B2800010A5005%10%ACA.ABB.A5461C.B5469D.AB308E.BA4DEABCDE5BDABCDE1.BCDE2.CD3.AC4.DE5.BD148ABCD()50000100004800088000()18100002000840018000(1)iC=10%(2)100000iC=10%(3)iC=10%(1)NPVA=-50000+10000(P/A,10%,8)=3349NPVB=-10000+2000(P/A,10%,8)=669.8NPVC=-48000+8400(P/A,10%,8)=-3186NPVD=-88000+18000(P/A,10%,8)=8028.2ABD0ABD2NPVB+DB+DNPVA50000100003349B1000020000669.8D88000180008028.2AB60000120004018.8AD13800028000BD98000200008698ABD148000300003D13380/120/70/285A.20000B.19000C.15000D.7500BEPQ=2850000/(380-120-70)=15000C2DABCD35.91%25.67%14.82%0BABCD4DABCD5.CA.B.C.D.6.,(C).A.B.C.D.7.CABCD8.A.B.C.D.9.CAB.C.D.10BABCD1CEA.B.CD.E.C,E2.BCDA.B.C.D.E.[]BCD3.BCDA.B.C.D.E.4ABCEA.B.C.D.E.5.ACEA.B.C.D.E.6.CDABCDE1BABCD2CABCD3DABCD4.AABCD5.AABCD6.CABCD7.DABCD8AABC.D9=DA+++B+++C+++D-1ABDABCDE2.BCDABCDE3ABCDABCDEABCD4.BDABCDE5.ACEABCDE1.(C)A.B.C.D.C2.(A)A.B.C.D.A;3.(D)A.B.C.D.D4DABCD5DABCD61002012AA32.00B102.40C266.67D853.337CABCD1BDEABCDE2ABDABCDE3.CEA.B.C.D.E.1.30000A1025008000A7000B25000104000450010%ABAC(10)=7000(A/P,10%,6)+80002500(AF,10,6)=70000.2296+8000-25000.1296=9283.20AC(10)=450025000(A/P,10%,10)4000(A/F,1010)=4500+250000.1627-40000.0627=8316.71.(A),A.B.C.D.A2.BA.B.C.D.B3.DA.B.C.D.D4.AA.B.C.D.A5.,AA.B.C.D.A6.,BA.B.C.D.B7.B.A.B.C.D.B8.AA.B.C.D.A9.()DA.B.C.D.D10.DA.B.C.D.11.CA.B.C.D.12.DA.B.C.D.13.CA.B.C.D.14.(B)ABCD15.DA.+B.++C.++D.+++,1.,ABEA.,B.,c.,D.,E.,2.ADEA.B.C.D.E.3.BCEA.B.C.D.E.4.BCEA.B.C.D.E.5.ABCDA.B.C.D.E.6.ABCA.Vi=1B.Vi1C.Vi1D.Vi1E.Vi=0F7.BCDA.B.C.D.E.8.ABEA.B.C.D.E.9.BCDA.B.C.D.E./63,ABCA.B.C.D.E.ABCDE