home *** CD-ROM | disk | FTP | other *** search
Unknown | 2001-12-19 | 125.6 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 10'
| 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 31 |OSS C|hapter 1|
|00000020| 30 3a 20 4d 61 6b 69 6e | 67 20 43 61 70 69 74 61 |0: Makin|g Capita|
|00000030| 6c 20 49 6e 76 65 73 74 | 6d 65 6e 74 2e 2e 2e 00 |l Invest|ment....|
|00000040| 00 00 00 67 00 00 00 00 | 00 00 00 67 00 cc 3a 00 |...g....|...g..:.|
|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 41 73 73 75 | 6d 65 20 70 72 6f 6a 65 |.1..Assu|me proje|
|000000d0| 63 74 20 58 20 72 65 71 | 75 69 72 65 73 20 61 64 |ct X req|uires ad|
|000000e0| 64 69 74 69 6f 6e 73 2e | 2e 2e 20 20 01 00 62 00 |ditions.|.. ..b.|
|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 00 00 00 00 |........|........|
|00000120| 00 00 00 00 31 02 00 41 | 73 73 75 6d 65 20 74 68 |....1..A|ssume th|
|00000130| 61 74 20 6f 76 65 72 20 | 74 68 65 20 6c 69 66 65 |at over |the life|
|00000140| 20 6f 66 20 70 72 6f 6a | 65 63 74 2e 2e 2e 20 01 | of proj|ect... .|
|00000150| 00 62 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |.b......|........|
|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 00 |........|........|
|00000180| 00 00 00 00 00 00 00 31 | 03 00 41 20 64 65 63 72 |.......1|..A decr|
|00000190| 65 61 73 65 20 69 6e 20 | 74 68 65 20 63 6f 72 70 |ease in |the corp|
|000001a0| 6f 72 61 74 65 20 74 61 | 78 20 72 61 74 65 2e 2e |orate ta|x rate..|
|000001b0| 2e 20 01 00 62 00 00 00 | 00 00 00 00 00 00 00 00 |. ..b...|........|
|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 00 00 00 00 00 00 | 00 00 31 04 00 54 6f 20 |........|..1..To |
|000001f0| 61 63 63 75 72 61 74 65 | 6c 79 20 72 65 66 6c 65 |accurate|ly refle|
|00000200| 63 74 20 74 68 65 20 63 | 6f 73 74 73 2e 2e 2e 20 |ct the c|osts... |
|00000210| 20 20 20 20 20 01 00 62 | 00 00 00 00 00 00 00 00 | ..b|........|
|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 00 00 00 | 00 00 00 00 00 31 05 00 |........|.....1..|
|00000250| 49 6e 63 72 65 6d 65 6e | 74 61 6c 20 63 61 73 68 |Incremen|tal cash|
|00000260| 20 66 6c 6f 77 73 20 61 | 72 65 20 74 68 65 2e 2e | flows a|re the..|
|00000270| 2e 20 20 20 20 20 20 20 | 01 00 62 00 00 00 00 00 |. |..b.....|
|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 | 00 00 00 00 00 00 00 00 |........|........|
|000002b0| 31 06 00 53 75 6e 6b 20 | 63 6f 73 74 73 20 61 6e |1..Sunk |costs an|
|000002c0| 64 20 6f 70 70 6f 72 74 | 75 6e 69 74 79 20 63 6f |d opport|unity co|
|000002d0| 73 74 73 20 61 72 65 2e | 2e 2e 20 01 00 62 00 00 |sts are.|.. ..b..|
|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 00 00 00 00 00 |........|........|
|00000310| 00 00 00 31 07 00 53 69 | 64 65 20 65 66 66 65 63 |...1..Si|de effec|
|00000320| 74 73 20 73 75 63 68 20 | 61 73 20 65 72 6f 73 69 |ts such |as erosi|
|00000330| 6f 6e 20 6e 65 65 64 20 | 6e 6f 74 2e 2e 2e 01 00 |on need |not.....|
|00000340| 62 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |b.......|........|
|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 00 00 |........|........|
|00000370| 00 00 00 00 00 00 31 08 | 00 49 66 20 6e 65 74 20 |......1.|.If net |
|00000380| 77 6f 72 6b 69 6e 67 20 | 63 61 70 69 74 61 6c 20 |working |capital |
|00000390| 67 72 6f 77 73 20 66 72 | 6f 6d 2e 2e 2e 20 20 20 |grows fr|om... |
|000003a0| 20 01 00 62 00 00 00 00 | 00 00 00 00 00 00 00 00 | ..b....|........|
|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 00 00 00 00 00 00 00 | 00 31 09 00 49 6e 20 67 |........|.1..In g|
|000003e0| 65 6e 65 72 61 6c 2c 20 | 61 64 6f 70 74 69 6e 67 |eneral, |adopting|
|000003f0| 20 4d 41 43 52 53 2e 2e | 2e 20 20 20 20 20 20 20 | MACRS..|. |
|00000400| 20 20 20 20 01 00 62 00 | 00 00 00 00 00 00 00 00 | ..b.|........|
|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 00 00 00 00 | 00 00 00 00 31 0a 00 49 |........|....1..I|
|00000440| 66 20 74 68 65 20 61 73 | 73 65 74 73 20 6f 66 20 |f the as|sets of |
|00000450| 61 20 70 72 6f 6a 65 63 | 74 20 63 61 6e 20 62 65 |a projec|t can be|
|00000460| 2e 2e 2e 20 20 20 20 01 | 00 62 00 00 00 00 00 00 |... .|.b......|
|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 00 | 00 00 00 00 00 00 00 31 |........|.......1|
|000004a0| 0b 00 49 6e 20 61 20 63 | 6f 73 74 20 63 75 74 74 |..In a c|ost cutt|
|000004b0| 69 6e 67 20 70 72 6f 70 | 6f 73 61 6c 2c 20 74 68 |ing prop|osal, th|
|000004c0| 65 20 4e 50 56 2e 2e 2e | 20 20 01 00 62 00 00 00 |e NPV...| ..b...|
|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 00 00 00 00 00 00 |........|........|
|00000500| 00 00 31 0c 00 54 68 65 | 20 69 64 65 61 20 62 65 |..1..The| idea be|
|00000510| 68 69 6e 64 20 73 65 74 | 74 69 6e 67 20 61 20 62 |hind set|ting a b|
|00000520| 69 64 20 70 72 69 63 65 | 2e 2e 2e 20 20 01 00 62 |id price|... ..b|
|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 00 00 00 |........|........|
|00000560| 00 00 00 00 00 31 0d 00 | 57 68 65 6e 20 77 65 20 |.....1..|When we |
|00000570| 75 73 65 20 74 68 65 20 | 65 71 75 69 76 61 6c 65 |use the |equivale|
|00000580| 6e 74 20 61 6e 6e 75 61 | 6c 2e 2e 2e 20 20 20 20 |nt annua|l... |
|00000590| 01 00 62 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |..b.....|........|
|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| 00 00 00 00 00 00 00 00 | 31 0e 00 54 68 65 20 62 |........|1..The b|
|000005d0| 6f 74 74 6f 6d 2d 75 70 | 20 61 70 70 72 6f 61 63 |ottom-up| approac|
|000005e0| 68 20 6f 66 20 66 69 6e | 64 69 6e 67 2e 2e 2e 20 |h of fin|ding... |
|000005f0| 20 20 20 01 00 62 00 00 | 00 00 00 00 00 00 00 00 | ..b..|........|
|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 00 00 00 00 00 | 00 00 00 31 0f 00 54 68 |........|...1..Th|
|00000630| 65 20 64 65 70 72 65 63 | 69 61 74 69 6f 6e 20 74 |e deprec|iation t|
|00000640| 61 78 20 73 68 69 65 6c | 64 20 69 73 20 74 68 65 |ax shiel|d is the|
|00000650| 2e 2e 2e 20 20 20 01 00 | 62 00 00 00 00 00 00 00 |... ..|b.......|
|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 00 00 | 00 00 00 00 00 00 31 10 |........|......1.|
|00000690| 00 41 63 63 6f 72 64 69 | 6e 67 20 74 6f 20 74 68 |.Accordi|ng to th|
|000006a0| 65 20 73 74 61 6e 64 2d | 61 6c 6f 6e 65 2e 2e 2e |e stand-|alone...|
|000006b0| 20 20 20 20 20 20 20 20 | 20 01 00 62 00 00 00 00 | | ..b....|
|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 00 00 00 00 00 00 00 |........|........|
|000006f0| 00 31 11 00 41 20 73 75 | 6e 6b 20 63 6f 73 74 20 |.1..A su|nk cost |
|00000700| 69 73 20 61 6e 20 69 6e | 63 72 65 6d 65 6e 74 61 |is an in|crementa|
|00000710| 6c 20 63 61 73 68 2e 2e | 2e 20 20 20 01 00 62 00 |l cash..|. ..b.|
|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 00 00 00 00 |........|........|
|00000750| 00 00 00 00 31 12 00 41 | 6e 20 6f 70 70 6f 72 74 |....1..A|n opport|
|00000760| 75 6e 69 74 79 20 63 6f | 73 74 20 69 73 20 74 68 |unity co|st is th|
|00000770| 65 20 6d 6f 73 74 2e 2e | 2e 20 20 20 20 20 20 01 |e most..|. .|
|00000780| 00 62 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |.b......|........|
|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 00 |........|........|
|000007b0| 00 00 00 00 00 00 00 31 | 13 00 54 61 78 65 73 20 |.......1|..Taxes |
|000007c0| 61 72 65 20 6e 6f 74 20 | 61 6e 20 69 6d 70 6f 72 |are not |an impor|
|000007d0| 74 61 6e 74 2e 2e 2e 20 | 20 20 20 20 20 20 20 20 |tant... | |
|000007e0| 20 20 01 00 62 00 00 00 | 00 00 00 00 00 00 00 00 | ..b...|........|
|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 00 00 00 00 00 00 | 00 00 31 14 00 54 6f 74 |........|..1..Tot|
|00000820| 61 6c 20 70 72 6f 6a 65 | 63 74 20 63 61 73 68 20 |al proje|ct cash |
|00000830| 66 6c 6f 77 20 69 73 20 | 74 68 65 20 73 61 6d 65 |flow is |the same|
|00000840| 2e 2e 2e 20 20 01 00 62 | 00 00 00 00 00 00 00 00 |... ..b|........|
|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 00 00 00 | 00 00 00 00 00 31 15 00 |........|.....1..|
|00000880| 41 20 66 69 72 6d 20 69 | 73 20 63 6f 6e 73 69 64 |A firm i|s consid|
|00000890| 65 72 69 6e 67 20 61 20 | 70 72 6f 6a 65 63 74 20 |ering a |project |
|000008a0| 74 68 61 74 2e 2e 2e 20 | 01 00 62 00 00 00 00 00 |that... |..b.....|
|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 | 00 00 00 00 00 00 00 00 |........|........|
|000008e0| 31 16 00 41 20 63 6f 6d | 70 61 6e 79 20 74 68 61 |1..A com|pany tha|
|000008f0| 74 20 68 61 73 20 61 20 | 70 6f 6c 69 63 79 20 6f |t has a |policy o|
|00000900| 66 20 6d 61 6b 69 6e 67 | 2e 2e 2e 01 00 62 00 00 |f making|.....b..|
|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 00 00 00 00 00 |........|........|
|00000940| 00 00 00 31 17 00 57 68 | 69 63 68 20 6f 66 20 74 |...1..Wh|ich of t|
|00000950| 68 65 20 66 6f 6c 6c 6f | 77 69 6e 67 20 77 6f 75 |he follo|wing wou|
|00000960| 6c 64 20 62 65 2e 2e 2e | 20 20 20 20 20 20 01 00 |ld be...| ..|
|00000970| 62 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |b.......|........|
|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 00 00 |........|........|
|000009a0| 00 00 00 00 00 00 31 18 | 00 57 68 69 63 68 20 6f |......1.|.Which o|
|000009b0| 66 20 74 68 65 20 66 6f | 6c 6c 6f 77 69 6e 67 20 |f the fo|llowing |
|000009c0| 73 74 61 74 65 6d 65 6e | 74 73 2e 2e 2e 20 20 20 |statemen|ts... |
|000009d0| 20 01 00 62 00 00 00 00 | 00 00 00 00 00 00 00 00 | ..b....|........|
|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 00 00 00 00 00 00 00 | 00 31 19 00 41 20 74 61 |........|.1..A ta|
|00000a10| 78 61 62 6c 65 20 67 61 | 69 6e 20 6f 63 63 75 72 |xable ga|in occur|
|00000a20| 73 20 77 68 65 6e 20 61 | 6e 20 61 73 73 65 74 2e |s when a|n asset.|
|00000a30| 2e 2e 20 20 01 00 62 00 | 00 00 00 00 00 00 00 00 |.. ..b.|........|
|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 00 00 00 00 | 00 00 00 00 31 1a 00 42 |........|....1..B|
|00000a70| 79 20 75 73 69 6e 67 20 | 74 68 65 20 74 61 78 20 |y using |the tax |
|00000a80| 73 68 69 65 6c 64 20 61 | 70 70 72 6f 61 63 68 20 |shield a|pproach |
|00000a90| 66 6f 72 2e 2e 2e 20 01 | 00 62 00 00 00 00 00 00 |for... .|.b......|
|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 00 | 00 00 00 00 00 00 00 31 |........|.......1|
|00000ad0| 1b 00 54 68 65 20 67 6f | 76 65 72 6e 6d 65 6e 74 |..The go|vernment|
|00000ae0| 20 68 61 73 20 62 65 65 | 6e 20 74 72 79 69 6e 67 | has bee|n trying|
|00000af0| 20 74 6f 2e 2e 2e 20 20 | 20 20 01 00 62 00 00 00 | to... | ..b...|
|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 00 00 00 00 00 00 |........|........|
|00000b30| 00 00 31 1c 00 59 6f 75 | 20 61 72 65 20 74 6f 20 |..1..You| are to |
|00000b40| 63 61 6c 63 75 6c 61 74 | 65 20 6f 70 65 72 61 74 |calculat|e operat|
|00000b50| 69 6e 67 20 63 61 73 68 | 2e 2e 2e 20 20 01 00 62 |ing cash|... ..b|
|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 00 00 00 |........|........|
|00000b90| 00 00 00 00 00 31 1d 00 | 57 68 69 63 68 20 6f 66 |.....1..|Which of|
|00000ba0| 20 74 68 65 20 66 6f 6c | 6c 6f 77 69 6e 67 20 70 | the fol|lowing p|
|00000bb0| 72 6f 6a 65 63 74 73 20 | 77 6f 75 6c 64 2e 2e 2e |rojects |would...|
|00000bc0| 01 00 62 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |..b.....|........|
|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| 00 00 00 00 00 00 00 00 | 31 1e 00 57 68 65 6e 20 |........|1..When |
|00000c00| 79 6f 75 20 73 65 74 20 | 4e 50 56 20 65 71 75 61 |you set |NPV equa|
|00000c10| 6c 20 74 6f 20 7a 65 72 | 6f 20 69 6e 2e 2e 2e 20 |l to zer|o in... |
|00000c20| 20 20 20 01 00 62 00 00 | 00 00 00 00 00 00 00 00 | ..b..|........|
|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 00 00 00 00 00 | 00 00 00 31 1f 00 59 6f |........|...1..Yo|
|00000c60| 75 72 20 63 6f 6d 70 61 | 6e 79 20 69 73 20 63 6f |ur compa|ny is co|
|00000c70| 6e 73 69 64 65 72 69 6e | 67 20 74 68 72 65 65 2e |nsiderin|g three.|
|00000c80| 2e 2e 20 20 20 20 01 00 | 62 00 00 00 00 00 00 00 |.. ..|b.......|
|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 00 00 | 00 00 00 00 00 00 31 20 |........|......1 |
|00000cc0| 00 49 74 20 69 73 20 69 | 6d 70 6f 72 74 61 6e 74 |.It is i|mportant|
|00000cd0| 20 74 6f 20 69 64 65 6e | 74 69 66 79 20 61 6e 64 | to iden|tify and|
|00000ce0| 20 75 73 65 2e 2e 2e 20 | 20 01 00 62 00 00 00 00 | use... | ..b....|
|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 00 00 00 00 00 00 00 |........|........|
|00000d20| 00 31 21 00 54 68 65 20 | 69 6e 63 72 65 6d 65 6e |.1!.The |incremen|
|00000d30| 74 61 6c 20 63 61 73 68 | 20 66 6c 6f 77 73 20 72 |tal cash| flows r|
|00000d40| 65 6c 61 74 65 64 20 74 | 6f 2e 2e 2e 01 00 62 00 |elated t|o.....b.|
|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 00 00 00 00 |........|........|
|00000d80| 00 00 00 00 31 22 00 5f | 5f 5f 5f 5f 5f 5f 5f 5f |....1"._|________|
|00000d90| 5f 5f 5f 5f 5f 20 77 6f | 75 6c 64 20 75 73 75 61 |_____ wo|uld usua|
|00000da0| 6c 6c 79 2e 2e 2e 20 20 | 20 20 20 20 20 20 20 01 |lly... | .|
|00000db0| 00 62 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |.b......|........|
|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 00 |........|........|
|00000de0| 00 00 00 00 00 00 00 31 | 23 00 59 6f 75 72 20 63 |.......1|#.Your c|
|00000df0| 6f 6d 70 61 6e 79 20 70 | 75 72 63 68 61 73 65 64 |ompany p|urchased|
|00000e00| 20 61 20 70 69 65 63 65 | 20 6f 66 2e 2e 2e 20 20 | a piece| of... |
|00000e10| 20 20 01 00 62 00 00 00 | 00 00 00 00 00 00 00 00 | ..b...|........|
|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 00 00 00 00 00 00 | 00 00 31 24 00 57 68 69 |........|..1$.Whi|
|00000e50| 63 68 20 6f 66 20 74 68 | 65 20 66 6f 6c 6c 6f 77 |ch of th|e follow|
|00000e60| 69 6e 67 20 77 6f 75 6c | 64 20 6c 69 6b 65 6c 79 |ing woul|d likely|
|00000e70| 2e 2e 2e 20 20 01 00 62 | 00 00 00 00 00 00 00 00 |... ..b|........|
|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 00 00 00 | 00 00 00 00 00 31 25 00 |........|.....1%.|
|00000eb0| 57 68 69 63 68 20 6f 66 | 20 74 68 65 20 66 6f 6c |Which of| the fol|
|00000ec0| 6c 6f 77 69 6e 67 20 73 | 74 61 74 65 6d 65 6e 74 |lowing s|tatement|
|00000ed0| 73 20 69 73 2e 2e 2e 20 | 01 00 62 00 00 00 00 00 |s is... |..b.....|
|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 | 00 00 00 00 00 00 00 00 |........|........|
|00000f10| 31 26 00 59 6f 75 20 61 | 72 65 20 63 6f 6e 73 69 |1&.You a|re consi|
|00000f20| 64 65 72 69 6e 67 20 61 | 20 6e 65 77 20 70 72 6f |dering a| new pro|
|00000f30| 6a 65 63 74 2e 2e 2e 20 | 20 20 20 01 00 62 00 00 |ject... | ..b..|
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|00002f50| 20 20 20 20 20 20 20 20 | 20 20 20 20 00 00 00 00 | | ....|
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|000032d0| 20 20 20 20 20 20 20 00 | 00 00 00 00 00 00 00 00 | .|........|
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|00003390| 20 20 20 20 20 20 20 20 | 20 20 20 20 20 00 00 00 | | ...|
|000033a0| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
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|00003460| 20 20 20 00 00 00 00 00 | 00 00 00 00 00 00 00 00 | .....|........|
|00003470| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
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|000034d0| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|000034e0| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
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|00003500| 00 20 20 20 20 20 20 20 | 20 20 20 20 20 20 20 20 |. | |
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|00003530| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
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|000035e0| 20 20 20 20 20 20 20 20 | 20 20 20 20 20 20 20 00 | | .|
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|00003600| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00003610| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00003620| 00 00 00 00 00 00 00 00 | 00 00 20 20 20 20 20 20 |........|.. |
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|00003650| 20 20 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 | ......|........|
|00003660| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00003670| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00003680| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 20 20 20 |........|..... |
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|000036c0| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
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|000036e0| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
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|00003720| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
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|00003750| 00 00 00 20 20 20 20 20 | 20 20 20 20 20 20 20 20 |... | |
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|000037b0| 00 00 00 00 00 00 20 20 | 20 20 20 20 20 20 20 20 |...... | |
|000037c0| 20 20 20 20 20 20 20 20 | 20 20 20 20 20 20 20 20 | | |
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|000037e0| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|000037f0| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00003800| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00003810| 00 00 00 00 00 00 00 00 | 00 20 20 20 20 20 20 20 |........|. |
|00003820| 20 20 20 20 20 20 20 20 | 20 20 20 20 20 20 20 20 | | |
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|00003840| 20 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 | .......|........|
|00003850| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00003860| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00003870| 00 00 00 00 00 00 00 00 | 00 00 00 00 20 20 20 20 |........|.... |
|00003880| 20 20 20 20 20 20 20 20 | 20 20 20 20 20 20 20 20 | | |
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|00003910| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00003920| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00003930| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00003940| 00 00 20 20 20 20 20 20 | 20 20 20 20 20 20 20 20 |.. | |
|00003950| 20 20 20 20 20 20 20 20 | 20 20 20 20 20 20 20 20 | | |
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|00003970| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00003980| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00003990| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|000039a0| 00 00 00 00 00 20 20 20 | 20 20 20 20 20 20 20 20 |..... | |
|000039b0| 20 20 20 20 20 20 20 20 | 20 20 20 20 20 20 20 20 | | |
|000039c0| 20 20 20 20 20 20 20 20 | 20 20 20 20 20 00 00 00 | | ...|
|000039d0| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|000039e0| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|000039f0| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00003a00| 00 00 00 00 00 00 00 00 | 20 20 20 20 20 20 20 20 |........| |
|00003a10| 20 20 20 20 20 20 20 20 | 20 20 20 20 20 20 20 20 | | |
|00003a20| 20 20 20 20 20 20 20 20 | 20 20 20 20 20 20 20 20 | | |
|00003a30| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00003a40| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00003a50| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00003a60| 00 00 00 00 00 00 00 00 | 00 00 00 20 20 20 20 20 |........|... |
|00003a70| 20 20 20 20 20 20 20 20 | 20 20 20 20 20 20 20 20 | | |
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|00003aa0| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00003ab0| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00003ac0| 00 00 00 00 00 00 00 00 | 00 00 00 9d f7 00 00 98 |........|........|
|00003ad0| 3b 00 00 5d 3e 00 00 71 | 41 00 00 74 43 00 00 83 |;..]>..q|A..tC...|
|00003ae0| 45 00 00 76 47 00 00 5f | 49 00 00 8e 4b 00 00 19 |E..vG.._|I...K...|
|00003af0| 4e 00 00 6d 50 00 00 1d | 53 00 00 68 55 00 00 88 |N..mP...|S..hU...|
|00003b00| 57 00 00 d4 59 00 00 d0 | 5b 00 00 a7 5d 00 00 9a |W...Y...|[...]...|
|00003b10| 5f 00 00 72 61 00 00 55 | 63 00 00 62 65 00 00 b4 |_..ra..U|c..be...|
|00003b20| 67 00 00 64 6c 00 00 52 | 71 00 00 13 75 00 00 dd |g..dl..R|q...u...|
|00003b30| 79 00 00 d5 7e 00 00 41 | 83 00 00 2c 88 00 00 82 |y...~..A|...,....|
|00003b40| 8c 00 00 03 91 00 00 2c | 96 00 00 ab 9b 00 00 d6 |.......,|........|
|00003b50| 9f 00 00 54 a4 00 00 99 | a8 00 00 d1 ad 00 00 70 |...T....|.......p|
|00003b60| b3 00 00 00 b8 00 00 8d | c0 00 00 1f c7 00 00 c6 |........|........|
|00003b70| cb 00 00 34 d1 00 00 27 | d4 00 00 2b d8 00 00 4c |...4...'|...+...L|
|00003b80| dd 00 00 10 e1 00 00 bb | e6 00 00 ba eb 00 00 14 |........|........|
|00003b90| ef 00 00 4e f3 00 00 33 | 01 00 39 00 00 00 00 00 |...N...3|..9.....|
|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 fa 00 7b 20 |\f0}{\f1|}}....{ |
|00003bd0| 41 73 73 75 6d 65 20 70 | 72 6f 6a 65 63 74 20 58 |Assume p|roject X|
|00003be0| 20 72 65 71 75 69 72 65 | 73 20 61 64 64 69 74 69 | require|s additi|
|00003bf0| 6f 6e 73 20 74 6f 20 6e | 65 74 20 77 6f 72 6b 69 |ons to n|et worki|
|00003c00| 6e 67 20 63 61 70 69 74 | 61 6c 20 69 6e 20 65 61 |ng capit|al in ea|
|00003c10| 63 68 20 79 65 61 72 20 | 6f 66 20 69 74 73 20 6c |ch year |of its l|
|00003c20| 69 66 65 2c 20 61 6c 6c | 20 74 6f 20 62 65 20 72 |ife, all| to be r|
|00003c30| 65 63 6f 76 65 72 65 64 | 20 61 74 20 74 68 65 20 |ecovered| at the |
|00003c40| 65 6e 64 2e 20 20 49 6e | 20 74 68 69 73 20 63 61 |end. In| this ca|
|00003c50| 73 65 2c 20 74 68 65 20 | 70 72 65 73 65 6e 74 20 |se, the |present |
|00003c60| 76 61 6c 75 65 20 6f 66 | 20 74 68 65 20 6e 65 74 |value of| the net|
|00003c70| 20 77 6f 72 6b 69 6e 67 | 20 63 61 70 69 74 61 6c | working| capital|
|00003c80| 20 72 65 63 6f 76 65 72 | 79 20 77 69 6c 6c 20 65 | recover|y will e|
|00003c90| 78 63 65 65 64 20 74 68 | 65 20 74 6f 74 61 6c 20 |xceed th|e total |
|00003ca0| 64 6f 6c 6c 61 72 20 6f | 75 74 6c 61 79 73 20 6f |dollar o|utlays o|
|00003cb0| 6e 20 6e 65 74 20 77 6f | 72 6b 69 6e 67 20 63 61 |n net wo|rking ca|
|00003cc0| 70 69 74 61 6c 2e 20 7d | 08 00 7b 20 54 72 75 65 |pital. }|..{ True|
|00003cd0| 20 7d 09 00 7b 20 46 61 | 6c 73 65 20 7d 00 00 00 | }..{ Fa|lse }...|
|00003ce0| 00 00 00 c2 00 7b 5c 66 | 6f 6e 74 74 62 6c 7b 5c |.....{\f|onttbl{\|
|00003cf0| 66 30 7d 7b 5c 66 31 7d | 7d 7b 5c 44 46 20 41 6c |f0}{\f1}|}{\DF Al|
|00003d00| 74 68 6f 75 67 68 20 74 | 68 65 20 61 6d 6f 75 6e |though t|he amoun|
|00003d10| 74 20 72 65 63 6f 76 65 | 72 65 64 20 77 69 6c 6c |t recove|red will|
|00003d20| 20 62 65 20 74 68 65 20 | 73 61 6d 65 20 61 73 20 | be the |same as |
|00003d30| 74 68 65 20 61 6d 6f 75 | 6e 74 20 69 6e 76 65 73 |the amou|nt inves|
|00003d40| 74 65 64 2c 20 74 68 65 | 20 70 72 65 73 65 6e 74 |ted, the| present|
|00003d50| 20 76 61 6c 75 65 20 6f | 66 20 74 68 65 20 61 6d | value o|f the am|
|00003d60| 6f 75 6e 74 20 72 65 63 | 6f 76 65 72 65 64 20 77 |ount rec|overed w|
|00003d70| 69 6c 6c 20 62 65 20 6c | 6f 77 65 72 20 64 75 65 |ill be l|ower due|
|00003d80| 20 74 6f 20 64 69 73 63 | 6f 75 6e 74 69 6e 67 2e | to disc|ounting.|
|00003d90| 20 52 65 76 69 65 77 20 | 73 65 63 74 69 6f 6e 20 | Review |section |
|00003da0| 31 30 2e 34 2e 20 7d 2b | 00 7b 5c 66 6f 6e 74 74 |10.4. }+|.{\fontt|
|00003db0| 62 6c 7b 5c 66 30 7d 7b | 5c 66 31 7d 7d 7b 5c 44 |bl{\f0}{|\f1}}{\D|
|00003dc0| 46 20 59 6f 75 20 61 72 | 65 20 63 6f 72 72 65 63 |F You ar|e correc|
|00003dd0| 74 21 20 7d 00 00 00 00 | 00 00 00 00 01 00 00 00 |t! }....|........|
|00003de0| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00003df0| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00003e00| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00003e10| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00003e20| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00003e30| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00003e40| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00003e50| 00 00 00 00 00 00 00 00 | 00 00 00 00 33 01 00 39 |........|....3..9|
|00003e60| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00003e70| 00 00 00 00 00 02 00 02 | 00 14 00 7b 5c 66 6f 6e |........|...{\fon|
|00003e80| 74 74 62 6c 7b 5c 66 30 | 7d 7b 5c 66 31 7d 7d 00 |ttbl{\f0|}{\f1}}.|
|00003e90| 00 4a 01 7b 20 41 73 73 | 75 6d 65 20 74 68 61 74 |.J.{ Ass|ume that|
|00003ea0| 20 6f 76 65 72 20 74 68 | 65 20 6c 69 66 65 20 6f | over th|e life o|
|00003eb0| 66 20 70 72 6f 6a 65 63 | 74 20 58 2c 20 6e 65 74 |f projec|t X, net|
|00003ec0| 20 77 6f 72 6b 69 6e 67 | 20 63 61 70 69 74 61 6c | working| capital|
|00003ed0| 20 69 73 20 6d 61 69 6e | 74 61 69 6e 65 64 20 61 | is main|tained a|
|00003ee0| 74 20 61 6e 20 61 6d 6f | 75 6e 74 20 65 71 75 61 |t an amo|unt equa|
|00003ef0| 6c 20 74 6f 20 74 68 65 | 20 69 6e 69 74 69 61 6c |l to the| initial|
|00003f00| 20 69 6e 76 65 73 74 6d | 65 6e 74 2e 20 20 49 66 | investm|ent. If|
|00003f10| 20 73 6f 2c 20 6e 65 74 | 20 77 6f 72 6b 69 6e 67 | so, net| working|
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|00005e90| 59 6f 75 20 61 72 65 20 | 63 6f 72 72 65 63 74 21 |You are |correct!|
|00005ea0| 20 7d 6d 00 7b 5c 66 6f | 6e 74 74 62 6c 7b 5c 66 | }m.{\fo|nttbl{\f|
|00005eb0| 30 7d 7b 5c 66 31 7d 7d | 7b 5c 44 46 20 54 68 69 |0}{\f1}}|{\DF Thi|
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|00006250| 20 59 6f 75 20 61 72 65 | 20 63 6f 72 72 65 63 74 | You are| correct|
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|000063f0| 20 46 61 6c 73 65 20 7d | 00 00 00 00 00 00 ac 00 | False }|........|
+--------+-------------------------+-------------------------+--------+--------+
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