home *** CD-ROM | disk | FTP | other *** search
| Unknown | 2001-12-19 | 123.4 KB |
open in: 
MacOS 8.1
|
Win98
|
DOS
view JSON data
|
view as text
This file was not able to be converted.
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| Confidence | Program | Detection | Match Type | Support
|
|---|
| 100%
| file
| data
| default
| |
| 100%
| TrID
| PrintFox/Pagefox bitmap (320x200)
| default (weak)
| |
| 100%
| gt2
| Kopftext: 'BRGEXM0500v0002ROSS Chapter 9'
| default (weak)
|
|
hex view+--------+-------------------------+-------------------------+--------+--------+
|00000000| 42 52 47 45 58 4d 30 35 | 30 30 76 30 30 30 32 52 |BRGEXM05|00v0002R|
|00000010| 4f 53 53 20 20 20 20 43 | 68 61 70 74 65 72 20 39 |OSS C|hapter 9|
|00000020| 3a 20 4e 65 74 20 50 72 | 65 73 65 6e 74 20 56 61 |: Net Pr|esent Va|
|00000030| 6c 75 65 20 41 6e 64 2e | 2e 2e 20 20 20 20 20 00 |lue And.|.. .|
|00000040| 00 00 00 6e 00 00 00 00 | 00 00 00 6e 00 cc 3a 00 |...n....|...n..:.|
|00000050| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 be 00 00 |........|........|
|00000060| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00000070| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00000080| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00000090| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|000000a0| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|000000b0| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 18 14 00 |........|........|
|000000c0| 00 31 01 00 57 68 65 6e | 20 6d 75 6c 74 69 70 6c |.1..When| multipl|
|000000d0| 65 20 49 52 52 27 73 20 | 65 78 69 73 74 2c 20 61 |e IRR's |exist, a|
|000000e0| 20 70 72 6f 6a 65 63 74 | 2e 2e 2e 20 01 00 61 00 | project|... ..a.|
|000000f0| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00000100| 00 00 00 00 00 00 00 00 | 01 00 00 00 00 00 00 00 |........|........|
|00000110| 00 00 00 00 00 00 00 00 | 00 00 00 00 0a 00 01 00 |........|........|
|00000120| 0a 00 01 00 31 02 00 41 | 20 70 72 6f 6a 65 63 74 |....1..A| project|
|00000130| 20 74 68 61 74 20 68 61 | 73 20 61 20 64 69 73 63 | that ha|s a disc|
|00000140| 6f 75 6e 74 65 64 2e 2e | 2e 20 20 20 20 20 20 01 |ounted..|. .|
|00000150| 00 61 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |.a......|........|
|00000160| 00 00 00 00 00 00 00 00 | 00 00 00 01 00 00 00 00 |........|........|
|00000170| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 0a |........|........|
|00000180| 00 02 00 0a 00 02 00 31 | 03 00 54 77 6f 20 70 72 |.......1|..Two pr|
|00000190| 6f 6a 65 63 74 73 20 74 | 68 61 74 20 61 72 65 20 |ojects t|hat are |
|000001a0| 6d 75 74 75 61 6c 6c 79 | 2e 2e 2e 20 20 20 20 20 |mutually|... |
|000001b0| 20 20 01 00 61 00 00 00 | 00 00 00 00 00 00 00 00 | ..a...|........|
|000001c0| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 01 00 |........|........|
|000001d0| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|000001e0| 00 00 0a 00 03 00 0a 00 | 03 00 31 04 00 41 20 66 |........|..1..A f|
|000001f0| 69 72 6d 20 74 68 61 74 | 20 6f 6e 6c 79 20 61 63 |irm that| only ac|
|00000200| 63 65 70 74 73 20 70 72 | 6f 6a 65 63 74 73 20 66 |cepts pr|ojects f|
|00000210| 6f 72 2e 2e 2e 01 00 61 | 00 00 00 00 00 00 00 00 |or.....a|........|
|00000220| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00000230| 00 01 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00000240| 00 00 00 00 00 0a 00 04 | 00 0a 00 04 00 31 05 00 |........|.....1..|
|00000250| 46 6f 72 20 6d 6f 73 74 | 20 70 72 6f 6a 65 63 74 |For most| project|
|00000260| 73 2c 20 74 68 65 20 41 | 41 52 20 73 68 6f 75 6c |s, the A|AR shoul|
|00000270| 64 20 62 65 2e 2e 2e 20 | 01 00 61 00 00 00 00 00 |d be... |..a.....|
|00000280| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00000290| 00 00 00 00 01 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|000002a0| 00 00 00 00 00 00 00 00 | 0a 00 05 00 0a 00 05 00 |........|........|
|000002b0| 31 06 00 41 20 73 74 65 | 65 70 20 4e 50 56 20 70 |1..A ste|ep NPV p|
|000002c0| 72 6f 66 69 6c 65 20 69 | 6e 64 69 63 61 74 65 73 |rofile i|ndicates|
|000002d0| 20 74 68 61 74 20 61 2e | 2e 2e 20 01 00 61 00 00 | that a.|.. ..a..|
|000002e0| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|000002f0| 00 00 00 00 00 00 00 01 | 00 00 00 00 00 00 00 00 |........|........|
|00000300| 00 00 00 00 00 00 00 00 | 00 00 00 0a 00 06 00 0a |........|........|
|00000310| 00 06 00 31 07 00 54 68 | 65 20 4e 50 56 20 64 65 |...1..Th|e NPV de|
|00000320| 63 69 73 69 6f 6e 20 72 | 75 6c 65 20 69 73 20 63 |cision r|ule is c|
|00000330| 6f 6e 73 69 64 65 72 65 | 64 2e 2e 2e 20 20 01 00 |onsidere|d... ..|
|00000340| 61 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |a.......|........|
|00000350| 00 00 00 00 00 00 00 00 | 00 00 01 00 00 00 00 00 |........|........|
|00000360| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 0a 00 |........|........|
|00000370| 07 00 0a 00 07 00 31 08 | 00 54 68 65 20 70 72 6f |......1.|.The pro|
|00000380| 66 69 74 61 62 69 6c 69 | 74 79 20 69 6e 64 65 78 |fitabili|ty index|
|00000390| 20 69 73 20 63 6f 6d 70 | 75 74 65 64 2e 2e 2e 20 | is comp|uted... |
|000003a0| 20 01 00 61 00 00 00 00 | 00 00 00 00 00 00 00 00 | ..a....|........|
|000003b0| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 01 00 00 |........|........|
|000003c0| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|000003d0| 00 0a 00 08 00 0a 00 08 | 00 31 09 00 54 68 65 20 |........|.1..The |
|000003e0| 70 72 6f 66 69 74 61 62 | 69 6c 69 74 79 20 69 6e |profitab|ility in|
|000003f0| 64 65 78 2c 20 6e 65 74 | 20 70 72 65 73 65 6e 74 |dex, net| present|
|00000400| 2e 2e 2e 20 01 00 61 00 | 00 00 00 00 00 00 00 00 |... ..a.|........|
|00000410| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00000420| 01 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00000430| 00 00 00 00 0a 00 09 00 | 0a 00 09 00 31 0a 00 41 |........|....1..A|
|00000440| 6e 20 61 64 76 61 6e 74 | 61 67 65 20 6f 66 20 74 |n advant|age of t|
|00000450| 68 65 20 70 61 79 62 61 | 63 6b 20 72 75 6c 65 20 |he payba|ck rule |
|00000460| 69 73 2e 2e 2e 20 20 01 | 00 61 00 00 00 00 00 00 |is... .|.a......|
|00000470| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00000480| 00 00 00 01 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00000490| 00 00 00 00 00 00 00 0a | 00 0a 00 0a 00 0a 00 31 |........|.......1|
|000004a0| 0b 00 54 6f 20 75 73 65 | 20 74 68 65 20 70 61 79 |..To use| the pay|
|000004b0| 62 61 63 6b 20 72 75 6c | 65 2c 20 74 68 65 20 61 |back rul|e, the a|
|000004c0| 76 65 72 61 67 65 2e 2e | 2e 20 01 00 61 00 00 00 |verage..|. ..a...|
|000004d0| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|000004e0| 00 00 00 00 00 00 01 00 | 00 00 00 00 00 00 00 00 |........|........|
|000004f0| 00 00 00 00 00 00 00 00 | 00 00 0a 00 0b 00 0a 00 |........|........|
|00000500| 0b 00 31 0c 00 41 20 64 | 69 73 61 64 76 61 6e 74 |..1..A d|isadvant|
|00000510| 61 67 65 20 6f 66 20 74 | 68 65 20 70 61 79 62 61 |age of t|he payba|
|00000520| 63 6b 20 72 75 6c 65 2e | 2e 2e 20 20 20 01 00 61 |ck rule.|.. ..a|
|00000530| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00000540| 00 00 00 00 00 00 00 00 | 00 01 00 00 00 00 00 00 |........|........|
|00000550| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 0a 00 0c |........|........|
|00000560| 00 0a 00 0c 00 31 0d 00 | 41 6e 20 69 6e 76 65 73 |.....1..|An inves|
|00000570| 74 6d 65 6e 74 20 73 68 | 6f 75 6c 64 20 62 65 20 |tment sh|ould be |
|00000580| 61 63 63 65 70 74 65 64 | 20 69 66 2e 2e 2e 20 20 |accepted| if... |
|00000590| 01 00 61 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |..a.....|........|
|000005a0| 00 00 00 00 00 00 00 00 | 00 00 00 00 01 00 00 00 |........|........|
|000005b0| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|000005c0| 0a 00 0d 00 0a 00 0d 00 | 31 0e 00 46 6f 72 20 70 |........|1..For p|
|000005d0| 72 6f 6a 65 63 74 73 20 | 77 69 74 68 20 63 6f 6e |rojects |with con|
|000005e0| 76 65 6e 74 69 6f 6e 61 | 6c 20 63 61 73 68 2e 2e |ventiona|l cash..|
|000005f0| 2e 20 20 01 00 61 00 00 | 00 00 00 00 00 00 00 00 |. ..a..|........|
|00000600| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 01 |........|........|
|00000610| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00000620| 00 00 00 0a 00 0e 00 0a | 00 0e 00 31 0f 00 54 68 |........|...1..Th|
|00000630| 65 20 6f 6e 6c 79 20 61 | 64 76 61 6e 74 61 67 65 |e only a|dvantage|
|00000640| 20 6f 66 20 74 68 65 20 | 61 76 65 72 61 67 65 2e | of the |average.|
|00000650| 2e 2e 20 20 20 20 01 00 | 61 00 00 00 00 00 00 00 |.. ..|a.......|
|00000660| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00000670| 00 00 01 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00000680| 00 00 00 00 00 00 0a 00 | 0f 00 0a 00 0f 00 31 10 |........|......1.|
|00000690| 00 41 6e 20 69 6e 76 65 | 73 74 6d 65 6e 74 20 69 |.An inve|stment i|
|000006a0| 73 20 61 63 63 65 70 74 | 61 62 6c 65 20 69 66 20 |s accept|able if |
|000006b0| 74 68 65 2e 2e 2e 20 20 | 20 01 00 61 00 00 00 00 |the... | ..a....|
|000006c0| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|000006d0| 00 00 00 00 00 01 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|000006e0| 00 00 00 00 00 00 00 00 | 00 0a 00 10 00 0a 00 10 |........|........|
|000006f0| 00 31 11 00 49 66 20 61 | 20 70 72 6f 6a 65 63 74 |.1..If a| project|
|00000700| 20 68 61 73 20 63 6f 6e | 76 65 6e 74 69 6f 6e 61 | has con|ventiona|
|00000710| 6c 20 63 61 73 68 2e 2e | 2e 20 20 20 01 00 61 00 |l cash..|. ..a.|
|00000720| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00000730| 00 00 00 00 00 00 00 00 | 01 00 00 00 00 00 00 00 |........|........|
|00000740| 00 00 00 00 00 00 00 00 | 00 00 00 00 0a 00 11 00 |........|........|
|00000750| 0a 00 11 00 31 12 00 42 | 6f 74 68 20 74 68 65 20 |....1..B|oth the |
|00000760| 49 52 52 20 61 6e 64 20 | 74 68 65 20 70 72 6f 66 |IRR and |the prof|
|00000770| 69 74 61 62 69 6c 69 74 | 79 2e 2e 2e 20 20 20 01 |itabilit|y... .|
|00000780| 00 61 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |.a......|........|
|00000790| 00 00 00 00 00 00 00 00 | 00 00 00 01 00 00 00 00 |........|........|
|000007a0| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 0a |........|........|
|000007b0| 00 12 00 0a 00 12 00 31 | 13 00 56 65 72 79 20 66 |.......1|..Very f|
|000007c0| 65 77 20 6c 61 72 67 65 | 20 55 2e 53 2e 20 66 69 |ew large| U.S. fi|
|000007d0| 72 6d 73 20 75 73 65 20 | 74 68 65 2e 2e 2e 20 20 |rms use |the... |
|000007e0| 20 20 01 00 61 00 00 00 | 00 00 00 00 00 00 00 00 | ..a...|........|
|000007f0| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 01 00 |........|........|
|00000800| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00000810| 00 00 0a 00 13 00 0a 00 | 13 00 31 14 00 49 66 20 |........|..1..If |
|00000820| 69 6e 76 65 73 74 6d 65 | 6e 74 20 66 75 6e 64 73 |investme|nt funds|
|00000830| 20 61 72 65 20 6c 69 6d | 69 74 65 64 20 61 6e 64 | are lim|ited and|
|00000840| 2e 2e 2e 20 20 01 00 61 | 00 00 00 00 00 00 00 00 |... ..a|........|
|00000850| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00000860| 00 01 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00000870| 00 00 00 00 00 0a 00 14 | 00 0a 00 14 00 31 15 00 |........|.....1..|
|00000880| 54 68 65 20 65 73 73 65 | 6e 63 65 20 6f 66 20 5f |The esse|nce of _|
|00000890| 5f 5f 5f 5f 5f 5f 5f 5f | 5f 5f 5f 5f 5f 5f 5f 5f |________|________|
|000008a0| 20 69 73 2e 2e 2e 20 20 | 01 00 61 00 00 00 00 00 | is... |..a.....|
|000008b0| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|000008c0| 00 00 00 00 01 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|000008d0| 00 00 00 00 00 00 00 00 | 0a 00 15 00 0a 00 15 00 |........|........|
|000008e0| 31 16 00 57 68 69 63 68 | 20 6f 66 20 74 68 65 20 |1..Which| of the |
|000008f0| 66 6f 6c 6c 6f 77 69 6e | 67 20 69 73 20 4e 4f 54 |followin|g is NOT|
|00000900| 2e 2e 2e 20 20 20 20 20 | 20 20 20 01 00 61 00 00 |... | ..a..|
|00000910| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00000920| 00 00 00 00 00 00 00 01 | 00 00 00 00 00 00 00 00 |........|........|
|00000930| 00 00 00 00 00 00 00 00 | 00 00 00 0a 00 16 00 0a |........|........|
|00000940| 00 16 00 31 17 00 4e 65 | 74 20 70 72 65 73 65 6e |...1..Ne|t presen|
|00000950| 74 20 76 61 6c 75 65 2e | 2e 2e 20 20 20 20 20 20 |t value.|.. |
|00000960| 20 20 20 20 20 20 20 20 | 20 20 20 20 20 20 01 00 | | ..|
|00000970| 61 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |a.......|........|
|00000980| 00 00 00 00 00 00 00 00 | 00 00 01 00 00 00 00 00 |........|........|
|00000990| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 0a 00 |........|........|
|000009a0| 17 00 0a 00 17 00 31 18 | 00 54 68 65 20 5f 5f 5f |......1.|.The ___|
|000009b0| 5f 5f 5f 5f 5f 5f 20 64 | 65 63 69 73 69 6f 6e 20 |______ d|ecision |
|000009c0| 72 75 6c 65 20 69 73 2e | 2e 2e 20 20 20 20 20 20 |rule is.|.. |
|000009d0| 20 01 00 61 00 00 00 00 | 00 00 00 00 00 00 00 00 | ..a....|........|
|000009e0| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 01 00 00 |........|........|
|000009f0| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00000a00| 00 0a 00 18 00 0a 00 18 | 00 31 19 00 57 68 69 63 |........|.1..Whic|
|00000a10| 68 20 6f 66 20 74 68 65 | 20 66 6f 6c 6c 6f 77 69 |h of the| followi|
|00000a20| 6e 67 20 64 65 63 69 73 | 69 6f 6e 20 72 75 6c 65 |ng decis|ion rule|
|00000a30| 73 2e 2e 2e 01 00 61 00 | 00 00 00 00 00 00 00 00 |s.....a.|........|
|00000a40| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00000a50| 01 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00000a60| 00 00 00 00 0a 00 19 00 | 0a 00 19 00 31 1a 00 57 |........|....1..W|
|00000a70| 68 69 63 68 20 6f 66 20 | 74 68 65 20 66 6f 6c 6c |hich of |the foll|
|00000a80| 6f 77 69 6e 67 20 64 65 | 63 69 73 69 6f 6e 20 72 |owing de|cision r|
|00000a90| 75 6c 65 73 2e 2e 2e 01 | 00 61 00 00 00 00 00 00 |ules....|.a......|
|00000aa0| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00000ab0| 00 00 00 01 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00000ac0| 00 00 00 00 00 00 00 0a | 00 1a 00 0a 00 1a 00 31 |........|.......1|
|00000ad0| 1b 00 57 68 69 63 68 20 | 6f 66 20 74 68 65 20 66 |..Which |of the f|
|00000ae0| 6f 6c 6c 6f 77 69 6e 67 | 20 63 6f 6e 73 69 64 65 |ollowing| conside|
|00000af0| 72 20 74 68 65 2e 2e 2e | 20 20 01 00 61 00 00 00 |r the...| ..a...|
|00000b00| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00000b10| 00 00 00 00 00 00 01 00 | 00 00 00 00 00 00 00 00 |........|........|
|00000b20| 00 00 00 00 00 00 00 00 | 00 00 0a 00 1b 00 0a 00 |........|........|
|00000b30| 1b 00 31 1c 00 57 68 69 | 63 68 20 6f 66 20 74 68 |..1..Whi|ch of th|
|00000b40| 65 20 66 6f 6c 6c 6f 77 | 69 6e 67 20 69 73 20 63 |e follow|ing is c|
|00000b50| 6f 6e 73 69 64 65 72 65 | 64 2e 2e 2e 20 01 00 61 |onsidere|d... ..a|
|00000b60| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00000b70| 00 00 00 00 00 00 00 00 | 00 01 00 00 00 00 00 00 |........|........|
|00000b80| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 0a 00 1c |........|........|
|00000b90| 00 0a 00 1c 00 31 1d 00 | 49 66 20 61 6e 20 69 6e |.....1..|If an in|
|00000ba0| 76 65 73 74 6d 65 6e 74 | 20 68 61 73 20 61 20 5f |vestment| has a _|
|00000bb0| 5f 5f 5f 5f 5f 5f 5f 5f | 5f 5f 5f 5f 2e 2e 2e 20 |________|____... |
|00000bc0| 01 00 61 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |..a.....|........|
|00000bd0| 00 00 00 00 00 00 00 00 | 00 00 00 00 01 00 00 00 |........|........|
|00000be0| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00000bf0| 0a 00 1d 00 0a 00 1d 00 | 31 1e 00 54 68 65 20 75 |........|1..The u|
|00000c00| 73 65 20 6f 66 20 77 68 | 69 63 68 20 6f 66 20 74 |se of wh|ich of t|
|00000c10| 68 65 20 66 6f 6c 6c 6f | 77 69 6e 67 2e 2e 2e 20 |he follo|wing... |
|00000c20| 20 20 20 01 00 61 00 00 | 00 00 00 00 00 00 00 00 | ..a..|........|
|00000c30| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 01 |........|........|
|00000c40| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00000c50| 00 00 00 0a 00 1e 00 0a | 00 1e 00 31 1f 00 5f 5f |........|...1..__|
|00000c60| 5f 5f 5f 5f 5f 5f 5f 5f | 5f 5f 20 71 75 61 6e 74 |________|__ quant|
|00000c70| 69 66 69 65 73 20 69 6e | 20 64 6f 6c 6c 61 72 2e |ifies in| dollar.|
|00000c80| 2e 2e 20 20 20 20 01 00 | 61 00 00 00 00 00 00 00 |.. ..|a.......|
|00000c90| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00000ca0| 00 00 01 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00000cb0| 00 00 00 00 00 00 0a 00 | 1f 00 0a 00 1f 00 31 20 |........|......1 |
|00000cc0| 00 57 68 61 74 20 69 73 | 20 74 68 65 20 64 65 63 |.What is| the dec|
|00000cd0| 69 73 69 6f 6e 20 72 75 | 6c 65 20 66 6f 72 20 49 |ision ru|le for I|
|00000ce0| 52 52 3f 2e 2e 2e 20 20 | 20 01 00 61 00 00 00 00 |RR?... | ..a....|
|00000cf0| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00000d00| 00 00 00 00 00 01 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00000d10| 00 00 00 00 00 00 00 00 | 00 0a 00 20 00 0a 00 20 |........|... ... |
|00000d20| 00 31 21 00 41 20 70 72 | 6f 6a 65 63 74 20 73 68 |.1!.A pr|oject sh|
|00000d30| 6f 75 6c 64 20 62 65 20 | 61 63 63 65 70 74 65 64 |ould be |accepted|
|00000d40| 2e 2e 2e 20 20 20 20 20 | 20 20 20 20 01 00 61 00 |... | ..a.|
|00000d50| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00000d60| 00 00 00 00 00 00 00 00 | 01 00 00 00 00 00 00 00 |........|........|
|00000d70| 00 00 00 00 00 00 00 00 | 00 00 00 00 0a 00 21 00 |........|......!.|
|00000d80| 0a 00 21 00 31 22 00 41 | 63 63 6f 72 64 69 6e 67 |..!.1".A|ccording|
|00000d90| 20 74 6f 20 74 68 65 20 | 4e 50 56 20 72 75 6c 65 | to the |NPV rule|
|00000da0| 2c 20 61 20 66 69 72 6d | 2e 2e 2e 20 20 20 20 01 |, a firm|... .|
|00000db0| 00 61 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |.a......|........|
|00000dc0| 00 00 00 00 00 00 00 00 | 00 00 00 01 00 00 00 00 |........|........|
|00000dd0| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 0a |........|........|
|00000de0| 00 22 00 0a 00 22 00 31 | 23 00 52 61 6e 6b 69 6e |."...".1|#.Rankin|
|00000df0| 67 20 63 6f 6e 66 6c 69 | 63 74 73 20 63 61 6e 20 |g confli|cts can |
|00000e00| 61 72 69 73 65 20 69 6e | 20 49 52 52 2e 2e 2e 20 |arise in| IRR... |
|00000e10| 20 20 01 00 61 00 00 00 | 00 00 00 00 00 00 00 00 | ..a...|........|
|00000e20| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 01 00 |........|........|
|00000e30| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00000e40| 00 00 0a 00 23 00 0a 00 | 23 00 31 24 00 41 20 4e |....#...|#.1$.A N|
|00000e50| 50 56 20 6f 66 20 7a 65 | 72 6f 20 69 6d 70 6c 69 |PV of ze|ro impli|
|00000e60| 65 73 20 74 68 61 74 20 | 61 6e 2e 2e 2e 20 20 20 |es that |an... |
|00000e70| 20 20 20 20 20 01 00 61 | 00 00 00 00 00 00 00 00 | ..a|........|
|00000e80| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00000e90| 00 01 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00000ea0| 00 00 00 00 00 0a 00 24 | 00 0a 00 24 00 31 25 00 |.......$|...$.1%.|
|00000eb0| 54 68 65 20 5f 5f 5f 5f | 5f 5f 5f 5f 5f 20 69 73 |The ____|_____ is|
|00000ec0| 20 74 68 65 20 6c 65 6e | 67 74 68 20 6f 66 20 74 | the len|gth of t|
|00000ed0| 69 6d 65 2e 2e 2e 20 20 | 01 00 61 00 00 00 00 00 |ime... |..a.....|
|00000ee0| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00000ef0| 00 00 00 00 01 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00000f00| 00 00 00 00 00 00 00 00 | 0a 00 25 00 0a 00 25 00 |........|..%...%.|
|00000f10| 31 26 00 54 68 65 20 6c | 65 6e 67 74 68 20 6f 66 |1&.The l|ength of|
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|00001e20| 00 0a 00 4c 00 0a 00 4c | 00 31 4d 00 57 68 69 63 |...L...L|.1M.Whic|
|00001e30| 68 20 6f 66 20 74 68 65 | 20 66 6f 6c 6c 6f 77 69 |h of the| followi|
|00001e40| 6e 67 20 69 73 20 61 20 | 63 6f 72 72 65 63 74 2e |ng is a |correct.|
|00001e50| 2e 2e 20 20 01 00 61 00 | 00 00 00 00 00 00 00 00 |.. ..a.|........|
|00001e60| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00001e70| 01 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00001e80| 00 00 00 00 0a 00 4d 00 | 0a 00 4d 00 31 4e 00 41 |......M.|..M.1N.A|
|00001e90| 20 6d 61 6e 61 67 65 72 | 20 77 69 6c 6c 20 70 72 | manager| will pr|
|00001ea0| 65 66 65 72 20 74 68 65 | 20 49 52 52 20 72 75 6c |efer the| IRR rul|
|00001eb0| 65 2e 2e 2e 20 20 20 01 | 00 61 00 00 00 00 00 00 |e... .|.a......|
|00001ec0| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00001ed0| 00 00 00 01 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00001ee0| 00 00 00 00 00 00 00 0a | 00 4e 00 0a 00 4e 00 31 |........|.N...N.1|
|00001ef0| 4f 00 41 63 63 6f 72 64 | 69 6e 67 20 74 68 65 20 |O.Accord|ing the |
|00001f00| 63 61 70 69 74 61 6c 20 | 62 75 64 67 65 74 69 6e |capital |budgetin|
|00001f10| 67 2e 2e 2e 20 20 20 20 | 20 20 01 00 61 00 00 00 |g... | ..a...|
|00001f20| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00001f30| 00 00 00 00 00 00 01 00 | 00 00 00 00 00 00 00 00 |........|........|
|00001f40| 00 00 00 00 00 00 00 00 | 00 00 0a 00 4f 00 0a 00 |........|....O...|
|00001f50| 4f 00 31 50 00 41 20 66 | 69 6e 61 6e 63 69 61 6c |O.1P.A f|inancial|
|00001f60| 20 6d 61 6e 61 67 65 72 | 20 77 68 6f 20 63 6f 6e | manager| who con|
|00001f70| 73 69 73 74 65 6e 74 6c | 79 2e 2e 2e 20 01 00 61 |sistentl|y... ..a|
|00001f80| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00001f90| 00 00 00 00 00 00 00 00 | 00 01 00 00 00 00 00 00 |........|........|
|00001fa0| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 0a 00 50 |........|.......P|
|00001fb0| 00 0a 00 50 00 31 51 00 | 53 75 70 70 6f 73 65 20 |...P.1Q.|Suppose |
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|00001fe0| 01 00 61 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |..a.....|........|
|00001ff0| 00 00 00 00 00 00 00 00 | 00 00 00 00 01 00 00 00 |........|........|
|00002000| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00002010| 0a 00 51 00 0a 00 51 00 | 31 52 00 41 20 70 72 6f |..Q...Q.|1R.A pro|
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|00002030| 61 6e 64 20 68 61 73 20 | 63 61 73 68 2e 2e 2e 20 |and has |cash... |
|00002040| 20 20 20 01 00 61 00 00 | 00 00 00 00 00 00 00 00 | ..a..|........|
|00002050| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 01 |........|........|
|00002060| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00002070| 00 00 00 0a 00 52 00 0a | 00 52 00 31 53 00 41 20 |.....R..|.R.1S.A |
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|000020a0| 2e 2e 20 20 20 20 01 00 | 61 00 00 00 00 00 00 00 |.. ..|a.......|
|000020b0| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|000020c0| 00 00 01 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
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|00002100| 61 2e 2e 2e 20 20 20 20 | 20 01 00 61 00 00 00 00 |a... | ..a....|
|00002110| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
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|00002130| 00 00 00 00 00 00 00 00 | 00 0a 00 54 00 0a 00 54 |........|...T...T|
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|00002180| 00 00 00 00 00 00 00 00 | 01 00 00 00 00 00 00 00 |........|........|
|00002190| 00 00 00 00 00 00 00 00 | 00 00 00 00 0a 00 55 00 |........|......U.|
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|00002200| 00 56 00 0a 00 56 00 31 | 57 00 59 6f 75 20 75 6e |.V...V.1|W.You un|
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|00002240| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 01 00 |........|........|
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|000022a0| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|000022b0| 00 01 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|000022c0| 00 00 00 00 00 0a 00 58 | 00 0a 00 58 00 31 59 00 |.......X|...X.1Y.|
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|000022e0| 61 6e 64 20 74 68 65 20 | 6d 61 78 69 6d 75 6d 2e |and the |maximum.|
|000022f0| 2e 2e 20 20 20 20 20 20 | 01 00 61 00 00 00 00 00 |.. |..a.....|
|00002300| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00002310| 00 00 00 00 01 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00002320| 00 00 00 00 00 00 00 00 | 0a 00 59 00 0a 00 59 00 |........|..Y...Y.|
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|00002360| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00002370| 00 00 00 00 00 00 00 01 | 00 00 00 00 00 00 00 00 |........|........|
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|000023d0| 00 00 00 00 00 00 00 00 | 00 00 01 00 00 00 00 00 |........|........|
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|00002480| 2e 20 20 20 01 00 61 00 | 00 00 00 00 00 00 00 00 |. ..a.|........|
|00002490| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
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|000024e0| 2c 2e 2e 2e 20 20 20 01 | 00 61 00 00 00 00 00 00 |,... .|.a......|
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|00002500| 00 00 00 01 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
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|00002570| 00 00 00 00 00 00 00 00 | 00 00 0a 00 5f 00 0a 00 |........|...._...|
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|000025c0| 00 00 00 00 00 00 00 00 | 00 01 00 00 00 00 00 00 |........|........|
|000025d0| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 0a 00 60 |........|.......`|
|000025e0| 00 0a 00 60 00 31 61 00 | 57 68 69 63 68 20 6f 66 |...`.1a.|Which of|
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|00002610| 01 00 61 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |..a.....|........|
|00002620| 00 00 00 00 00 00 00 00 | 00 00 00 00 01 00 00 00 |........|........|
|00002630| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00002640| 0a 00 61 00 0a 00 61 00 | 31 62 00 57 68 69 63 68 |..a...a.|1b.Which|
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|00002670| 2e 20 20 01 00 61 00 00 | 00 00 00 00 00 00 00 00 |. ..a..|........|
|00002680| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 01 |........|........|
|00002690| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|000026a0| 00 00 00 0a 00 62 00 0a | 00 62 00 31 63 00 57 68 |.....b..|.b.1c.Wh|
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|000026c0| 77 69 6e 67 20 61 72 65 | 20 74 68 65 2e 2e 2e 20 |wing are| the... |
|000026d0| 20 20 20 20 20 20 01 00 | 61 00 00 00 00 00 00 00 | ..|a.......|
|000026e0| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|000026f0| 00 00 01 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00002700| 00 00 00 00 00 00 0a 00 | 63 00 0a 00 63 00 31 64 |........|c...c.1d|
|00002710| 00 59 6f 75 20 61 72 65 | 20 67 6f 69 6e 67 20 74 |.You are| going t|
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|00002730| 2e 2e 20 20 20 20 20 20 | 20 01 00 61 00 00 00 00 |.. | ..a....|
|00002740| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00002750| 00 00 00 00 00 01 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00002760| 00 00 00 00 00 00 00 00 | 00 0a 00 64 00 0a 00 64 |........|...d...d|
|00002770| 00 00 00 00 00 31 65 00 | 43 6f 6d 70 75 74 65 20 |.....1e.|Compute |
|00002780| 74 68 65 20 4e 50 56 20 | 66 6f 72 20 61 20 70 72 |the NPV |for a pr|
|00002790| 6f 6a 65 63 74 20 77 69 | 74 68 20 61 6e 2e 2e 2e |oject wi|th an...|
|000027a0| 01 00 61 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |..a.....|........|
|000027b0| 00 00 00 00 00 00 00 00 | 00 00 00 00 01 00 00 00 |........|........|
|000027c0| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|000027d0| 0a 00 65 00 0a 00 65 00 | 31 66 00 57 68 61 74 20 |..e...e.|1f.What |
|000027e0| 69 73 20 74 68 65 20 49 | 52 52 20 6f 66 20 61 6e |is the I|RR of an|
|000027f0| 20 69 6e 76 65 73 74 6d | 65 6e 74 20 74 68 61 74 | investm|ent that|
|00002800| 2e 2e 2e 01 00 61 00 00 | 00 00 00 00 00 00 00 00 |.....a..|........|
|00002810| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 01 |........|........|
|00002820| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00002830| 00 00 00 0a 00 66 00 0a | 00 66 00 31 67 00 59 6f |.....f..|.f.1g.Yo|
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|00002850| 67 20 74 68 65 20 66 6f | 6c 6c 6f 77 69 6e 67 2e |g the fo|llowing.|
|00002860| 2e 2e 20 20 20 20 01 00 | 61 00 00 00 00 00 00 00 |.. ..|a.......|
|00002870| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00002880| 00 00 01 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00002890| 00 00 00 00 00 00 0a 00 | 67 00 0a 00 67 00 31 68 |........|g...g.1h|
|000028a0| 00 46 6f 72 20 70 72 6f | 6a 65 63 74 20 41 2c 20 |.For pro|ject A, |
|000028b0| 74 68 65 20 63 61 73 68 | 20 66 6c 6f 77 73 20 61 |the cash| flows a|
|000028c0| 72 65 3a 2e 2e 2e 20 20 | 20 01 00 61 00 00 00 00 |re:... | ..a....|
|000028d0| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|000028e0| 00 00 00 00 00 01 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|000028f0| 00 00 00 00 00 00 00 00 | 00 0a 00 68 00 0a 00 68 |........|...h...h|
|00002900| 00 31 69 00 46 6f 72 20 | 70 72 6f 6a 65 63 74 20 |.1i.For |project |
|00002910| 41 2c 20 74 68 65 20 63 | 61 73 68 20 66 6c 6f 77 |A, the c|ash flow|
|00002920| 73 20 61 72 65 3a 2e 2e | 2e 20 20 20 01 00 61 00 |s are:..|. ..a.|
|00002930| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00002940| 00 00 00 00 00 00 00 00 | 01 00 00 00 00 00 00 00 |........|........|
|00002950| 00 00 00 00 00 00 00 00 | 00 00 00 00 0a 00 69 00 |........|......i.|
|00002960| 0a 00 69 00 31 6a 00 41 | 6e 20 69 6e 69 74 69 61 |..i.1j.A|n initia|
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|00002980| 24 4e 49 20 77 69 6c 6c | 2e 2e 2e 20 20 20 20 01 |$NI will|... .|
|00002990| 00 61 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |.a......|........|
|000029a0| 00 00 00 00 00 00 00 00 | 00 00 00 01 00 00 00 00 |........|........|
|000029b0| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 0a |........|........|
|000029c0| 00 6a 00 20 00 01 00 31 | 6b 00 41 6e 20 69 6e 69 |.j. ...1|k.An ini|
|000029d0| 74 69 61 6c 20 69 6e 76 | 65 73 74 6d 65 6e 74 20 |tial inv|estment |
|000029e0| 6f 66 20 24 49 4e 20 77 | 69 6c 6c 20 70 61 79 2e |of $IN w|ill pay.|
|000029f0| 2e 2e 01 00 61 00 00 00 | 00 00 00 00 00 00 00 00 |....a...|........|
|00002a00| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 01 00 |........|........|
|00002a10| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00002a20| 00 00 0a 00 6b 00 20 00 | 02 00 31 6c 00 41 6e 20 |....k. .|..1l.An |
|00002a30| 69 6e 76 65 73 74 6d 65 | 6e 74 20 6f 66 20 24 4e |investme|nt of $N|
|00002a40| 49 20 77 69 6c 6c 20 70 | 61 79 20 24 43 31 2e 2e |I will p|ay $C1..|
|00002a50| 2e 20 20 20 20 01 00 61 | 00 00 00 00 00 00 00 00 |. ..a|........|
|00002a60| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00002a70| 00 01 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00002a80| 00 00 00 00 00 0a 00 6c | 00 20 00 03 00 31 6d 00 |.......l|. ...1m.|
|00002a90| 57 68 61 74 20 69 73 20 | 74 68 65 20 49 52 52 20 |What is |the IRR |
|00002aa0| 6f 66 20 61 20 24 4e 49 | 20 69 6e 76 65 73 74 6d |of a $NI| investm|
|00002ab0| 65 6e 74 2e 2e 2e 20 20 | 01 00 61 00 00 00 00 00 |ent... |..a.....|
|00002ac0| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00002ad0| 00 00 00 00 01 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00002ae0| 00 00 00 00 00 00 00 00 | 0a 00 6d 00 20 00 04 00 |........|..m. ...|
|00002af0| 31 6e 00 57 68 61 74 20 | 69 73 20 74 68 65 20 50 |1n.What |is the P|
|00002b00| 49 20 61 74 20 61 20 70 | 65 72 63 65 6e 74 25 20 |I at a p|ercent% |
|00002b10| 72 61 74 65 20 6f 66 2e | 2e 2e 20 01 00 61 00 00 |rate of.|.. ..a..|
|00002b20| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00002b30| 00 00 00 00 00 00 00 01 | 00 00 00 00 00 00 00 00 |........|........|
|00002b40| 00 00 00 00 00 00 00 00 | 00 00 00 0a 00 6e 00 20 |........|.....n. |
|00002b50| 00 05 00 00 00 00 20 20 | 20 20 20 20 20 20 20 20 |...... | |
|00002b60| 20 20 20 20 20 20 20 20 | 20 20 20 20 20 20 20 20 | | |
|00002b70| 20 20 20 20 20 20 20 20 | 20 20 20 20 20 20 00 00 | | ..|
|00002b80| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00002b90| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00002ba0| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00002bb0| 00 00 00 00 00 00 00 00 | 00 20 20 20 20 20 20 20 |........|. |
|00002bc0| 20 20 20 20 20 20 20 20 | 20 20 20 20 20 20 20 20 | | |
|00002bd0| 20 20 20 20 20 20 20 20 | 20 20 20 20 20 20 20 20 | | |
|00002be0| 20 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 | .......|........|
|00002bf0| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00002c00| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00002c10| 00 00 00 00 00 00 00 00 | 00 00 00 00 20 20 20 20 |........|.... |
|00002c20| 20 20 20 20 20 20 20 20 | 20 20 20 20 20 20 20 20 | | |
|00002c30| 20 20 20 20 20 20 20 20 | 20 20 20 20 20 20 20 20 | | |
|00002c40| 20 20 20 20 00 00 00 00 | 00 00 00 00 00 00 00 00 | ....|........|
|00002c50| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00002c60| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00002c70| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 20 |........|....... |
|00002c80| 20 20 20 20 20 20 20 20 | 20 20 20 20 20 20 20 20 | | |
|00002c90| 20 20 20 20 20 20 20 20 | 20 20 20 20 20 20 20 20 | | |
|00002ca0| 20 20 20 20 20 20 20 00 | 00 00 00 00 00 00 00 00 | .|........|
|00002cb0| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00002cc0| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00002cd0| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00002ce0| 00 00 20 20 20 20 20 20 | 20 20 20 20 20 20 20 20 |.. | |
|00002cf0| 20 20 20 20 20 20 20 20 | 20 20 20 20 20 20 20 20 | | |
|00002d00| 20 20 20 20 20 20 20 20 | 20 20 00 00 00 00 00 00 | | ......|
|00002d10| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00002d20| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00002d30| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00002d40| 00 00 00 00 00 20 20 20 | 20 20 20 20 20 20 20 20 |..... | |
|00002d50| 20 20 20 20 20 20 20 20 | 20 20 20 20 20 20 20 20 | | |
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|00003af0| 4a 00 00 d0 4c 00 00 b4 | 4e 00 00 ad 50 00 00 a9 |J...L...|N...P...|
|00003b00| 52 00 00 70 54 00 00 ad | 56 00 00 84 58 00 00 38 |R..pT...|V...X..8|
|00003b10| 5a 00 00 fc 5b 00 00 f8 | 5d 00 00 0f 60 00 00 75 |Z...[...|]...`..u|
|00003b20| 62 00 00 0b 67 00 00 4d | 6c 00 00 c0 70 00 00 f2 |b...g..M|l...p...|
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|00003b40| 84 00 00 e3 88 00 00 dd | 8c 00 00 ce 90 00 00 a7 |........|........|
|00003b50| 94 00 00 45 99 00 00 83 | 9d 00 00 93 a1 00 00 7e |...E....|.......~|
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|00003b70| b4 00 00 4b b9 00 00 46 | bd 00 00 6f c1 00 00 fa |...K...F|...o....|
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|00003ba0| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00003bb0| 02 00 02 00 14 00 7b 5c | 66 6f 6e 74 74 62 6c 7b |......{\|fonttbl{|
|00003bc0| 5c 66 30 7d 7b 5c 66 31 | 7d 7d 00 00 55 00 7b 20 |\f0}{\f1|}}..U.{ |
|00003bd0| 57 68 65 6e 20 6d 75 6c | 74 69 70 6c 65 20 49 52 |When mul|tiple IR|
|00003be0| 52 27 73 20 65 78 69 73 | 74 2c 20 61 20 70 72 6f |R's exis|t, a pro|
|00003bf0| 6a 65 63 74 20 6d 75 73 | 74 20 68 61 76 65 20 61 |ject mus|t have a|
|00003c00| 20 6e 65 67 61 74 69 76 | 65 20 4e 50 56 20 61 74 | negativ|e NPV at|
|00003c10| 20 74 68 65 20 68 69 67 | 68 65 73 74 20 49 52 52 | the hig|hest IRR|
|00003c20| 2e 20 7d 08 00 7b 20 54 | 72 75 65 20 7d 09 00 7b |. }..{ T|rue }..{|
|00003c30| 20 46 61 6c 73 65 20 7d | 00 00 00 00 00 00 59 00 | False }|......Y.|
|00003c40| 7b 5c 66 6f 6e 74 74 62 | 6c 7b 5c 66 30 7d 7b 5c |{\fonttb|l{\f0}{\|
|00003c50| 66 31 7d 7d 7b 5c 44 46 | 20 42 79 20 64 65 66 69 |f1}}{\DF| By defi|
|00003c60| 6e 69 74 69 6f 6e 2c 20 | 77 68 61 74 20 69 73 20 |nition, |what is |
|00003c70| 74 68 65 20 4e 50 56 20 | 61 74 20 74 68 65 20 49 |the NPV |at the I|
|00003c80| 52 52 3f 20 52 65 76 69 | 65 77 20 73 65 63 74 69 |RR? Revi|ew secti|
|00003c90| 6f 6e 20 39 2e 35 2e 20 | 7d 2b 00 7b 5c 66 6f 6e |on 9.5. |}+.{\fon|
|00003ca0| 74 74 62 6c 7b 5c 66 30 | 7d 7b 5c 66 31 7d 7d 7b |ttbl{\f0|}{\f1}}{|
|00003cb0| 5c 44 46 20 59 6f 75 20 | 61 72 65 20 63 6f 72 72 |\DF You |are corr|
|00003cc0| 65 63 74 21 20 7d 00 00 | 00 00 00 00 00 00 01 00 |ect! }..|........|
|00003cd0| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
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|00003d30| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00003d40| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 33 01 |........|......3.|
|00003d50| 00 39 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |.9......|........|
|00003d60| 00 00 00 00 00 00 00 02 | 00 02 00 14 00 7b 5c 66 |........|.....{\f|
|00003d70| 6f 6e 74 74 62 6c 7b 5c | 66 30 7d 7b 5c 66 31 7d |onttbl{\|f0}{\f1}|
|00003d80| 7d 00 00 60 00 7b 20 41 | 20 70 72 6f 6a 65 63 74 |}..`.{ A| project|
|00003d90| 20 74 68 61 74 20 68 61 | 73 20 61 20 64 69 73 63 | that ha|s a disc|
|00003da0| 6f 75 6e 74 65 64 20 70 | 61 79 62 61 63 6b 20 70 |ounted p|ayback p|
|00003db0| 65 72 69 6f 64 20 6c 6f | 6e 67 65 72 20 74 68 61 |eriod lo|nger tha|
|00003dc0| 6e 20 69 74 73 20 6c 69 | 66 65 20 61 6c 73 6f 20 |n its li|fe also |
|00003dd0| 68 61 73 20 61 20 70 6f | 73 69 74 69 76 65 20 4e |has a po|sitive N|
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