MBA实业投融资·新建项目决策分析实例·相关报表

1、1新建12345667890.10000.90910.82640.75130.68300.62090.56450.51320.46650.42410.3855年金现值系数0.90911.73552.48693.16993.79084.35534.86845.33495.75906.1446一一、现现金金流流出出投投资资总总额额序号项目199719981999合计1 土地1,200,0001,200,0002 建筑物4,000,0004,000,0008,000,0003 设备10,000,00010,000,0004 营运资本净值6,600,0006,600,0005 机会成本3,000,00

2、03,000,0006 合计4,200,0004,000,00020,600,00028,800,000二二、现现金金流流入入净净经经营营现现金金流流量量6%序号项目200020012002200320042005合计1.1 销量25,00025,00025,00025,00025,00025,0001.2 销售单价2,2002,3322,4722,6202,7772,9441 销售收入55,000,00058,300,00061,800,00065,500,00069,425,00073,600,000383,625,0002.1 可变成本35,750,00037,895,00040,170

3、,00042,575,00045,126,25047,840,000249,356,2502.2 固定成本8,000,0008,480,0008,988,8009,528,12810,099,81610,705,80555,802,5482.3 研究与开发费摊销1,250,0001,250,0001,250,0001,250,0001,250,0001,250,0007,500,0002.4 建筑物折旧240,000240,000240,000240,000240,000240,0001,440,0002.5 设备折旧1,500,0002,500,0001,800,0001,200,0001,

4、000,0001,000,0009,000,0003 税前利润8,260,0007,935,0009,351,20010,706,87211,708,93412,564,19560,526,2024 所得税3,304,0003,174,0003,740,4804,282,7494,683,5745,025,67824,210,4815 税后利润4,956,0004,761,0005,610,7206,424,1237,025,3617,538,51736,315,7216 非现金费用：2,990,0003,990,0003,290,0002,690,0002,490,0002,490,0001

5、7,940,0006.1 折旧1,740,0002,740,0002,040,0001,440,0001,240,0001,240,00010,440,0006.2 研究与开发费摊销1,250,0001,250,0001,250,0001,250,0001,250,0001,250,0007,500,0007 营运资本净值-396,000-420,000-444,000-471,000-501,0008,832,0006,600,0008 经营现金流量净值7,550,0008,331,0008,456,7208,643,1239,014,36118,860,51760,855,721三三、现现

6、金金流流入入预预计计净净残残值值序号项目土地建筑物设备合计1 帐面净值1,200,0006,560,0001,000,0008,760,0001.1 原始价值1,200,0008,000,00010,000,00019,200,0001新建1.2 累计折旧-1,440,0009,000,00010,440,0002 残值变现收入1,700,0001,000,0002,000,0004,700,0003 资本损益500,000-5,560,0001,000,000-4,060,0004 所得税200,000-2,224,000400,000-1,624,0005 净残值1,500,0003,22

7、4,0001,600,0006,324,000四四、现现金金流流量量表表序号项目1997199819992000200120022003200420051 现金流入-7,550,0008,331,0008,456,7208,643,1239,014,36125,184,5171.1 经营现金流量净值7,550,0008,331,0008,456,7208,643,1239,014,36118,860,5171.2 回收固定资金残值6,324,0002 现金流出4,200,0004,000,00020,600,000-2.1 原始投资4,200,0004,000,00020,600,0003 净

8、现金流量-4,200,000-4,000,000-20,600,0007,550,0008,331,0008,456,7208,643,1239,014,36125,184,5174 折现系数（i=10%)1.00000.90910.82640.75130.68300.62090.56450.51320.46655 净现值-4,200,000-3,636,364-17,024,7935,672,4275,690,1855,250,9584,878,8184,625,79211,748,7636 累计净现值-4,200,000-7,836,364-24,861,157-19,188,730-13

9、,498,545-8,247,587-3,368,7701,257,02313,005,786IRR= 21.61%五五、难难点点1、关于研究开发费用40%序号项目199719981999200020012002200320042005合计1 研发费用当期节税额3,000,0003,000,000研发费用当期节税额现值3,000,0003,000,0002 研发费用后期节税额500,000500,000500,000500,000500,000500,0003,000,000研发费用后期节税额现值375,657341,507310,461282,237256,579233,2541,799,6

10、953 差异静态-3,000,000-500,000500,000500,000500,000500,000500,000-差异动态-3,000,000-375,657341,507310,461282,237256,579233,254-1,200,3051新建101112131415160.35050.31860.28970.26330.23940.21760.19786.49516.81377.10347.36677.60617.82378.021612340.10000.90910.82640.75130.6830年金现值系数0.90911.73552.48693.1699一一、研研发

11、发成成功功的的现现金金流流量量表表40%序号项目19961997199819991 现金流入-1.1 经营现金流量净值-1.2 回收固定资金残值2 现金流出1,500,0008,700,0004,000,00020,600,0002.1 原始投资1,500,0008,700,0004,000,00020,600,0002.1.1 研发费用1,500,0007,500,0002.1.1.1 税前研发费用2,500,0007,500,0002.1.1.2 税后研发费用1,500,0004,500,0002.1.2 其他投资1,200,0004,000,00020,600,0003 净现金流量-1,

12、500,000-8,700,000-4,000,000-20,600,0004 折现系数（i=10%)1.00000.90910.82640.75135 净现值-1,500,000-7,909,091-3,305,785-15,477,0856 累计净现值-1,500,000-9,409,091-12,714,876-28,191,961IRR= 14.84%二二、研研发发不不成成功功的的现现金金流流量量表表40%序号项目19961997199819991 现金流入-1.1 经营现金流量净值1.2 回收固定资金残值2 现金流出1,500,0004,500,000-2.1 原始投资1,500,0

13、004,500,000-2.1.1 研发费用1,500,0004,500,0002.1.1.1 税前研发费用2,500,0007,500,0002.1.1.2 税后研发费用1,500,0004,500,0002.1.2 其他投资3 净现金流量-1,500,000-4,500,000-4 折现系数（i=10%)1.00000.9091-5 净现值-1,500,000-4,090,909-6 累计净现值-1,500,000-5,590,909三三、净净现现值值的的期期望望值值客观状态概率净现值期望值方差成功0.76,232,5334,362,7732,447,201,089,138不成功0.3-5

14、,590,909-1,677,2734,594,964,876,033合合计计2,685,5007,042,165,965,171566789100.62090.56450.51320.46650.42410.38550.35053.79084.35534.86845.33495.75906.14466.49512000200120022003200420057,550,0008,331,0008,456,7208,643,1239,014,36125,184,5177,550,0008,331,0008,456,7208,643,1239,014,36118,860,5176,324,000

15、-7,550,0008,331,0008,456,7208,643,1239,014,36125,184,5170.68300.62090.56450.51320.46650.42415,156,7525,172,8964,773,5984,435,2894,205,26610,680,694-23,035,209-17,862,314-13,088,716-8,653,427-4,448,1616,232,533200020012002200320042005-标准差变异系数2,653,7080.988161581112131415160.31860.28970.26330.23940.21

16、760.19786.81377.10347.36677.60617.82378.0216营营 运运 资资 金金 估估 算算 表表序号项目19992000200120021 当当期期营营运运资资金金需需要要量量6,600,0006,996,0007,416,0007,860,0002 营营运运资资金金存存量量-6,600,0006,996,0007,416,0003 当当期期营营运运资资金金新新增增量量6,600,000396,000420,000444,000200320042005合计8,331,0008,832,0007,860,0008,331,0008,832,000471,00050

17、1,000-8,832,000-营营 运运 资资 金金 估估 算算 表表2新建12345667890.13333330.88240.77850.68700.60610.53480.47190.41640.36740.32420.2860年金现值系数0.88241.66092.34792.95403.48883.96074.37714.74455.06875.3547一一、现现金金流流出出投投资资总总额额序号项目199719981999合计1 土地1,200,0001,200,0002 建筑物4,000,0004,000,0008,000,0003 设备10,000,00010,000,0004

18、 营运资本净值6,600,0006,600,0005 机会成本3,000,0003,000,0006 合计4,200,0004,000,00020,600,00028,800,000二二、现现金金流流入入净净经经营营现现金金流流量量8%序号项目200020012002200320042005合计1.1 销量25,00025,00025,00025,00025,00025,0001.2 销售单价2,2002,3762,5662,7712,9933,2321 销售收入55,000,00059,400,00064,150,00069,275,00074,825,00080,800,000403,45

19、0,0002.1 可变成本35,750,00038,610,00041,697,50045,028,75048,636,25052,520,000262,242,5002.2 固定成本8,000,0008,640,0009,331,20010,077,69610,883,91211,754,62558,687,4322.3 研究与开发费摊销1,250,0001,250,0001,250,0001,250,0001,250,0001,250,0007,500,0002.4 建筑物折旧240,000240,000240,000240,000240,000240,0001,440,0002.5 设备

20、折旧1,500,0002,500,0001,800,0001,200,0001,000,0001,000,0009,000,0003 税前利润8,260,0008,160,0009,831,30011,478,55412,814,83814,035,37564,580,0684 所得税3,304,0003,264,0003,932,5204,591,4225,125,9355,614,15025,832,0275 税后利润4,956,0004,896,0005,898,7806,887,1327,688,9038,421,22538,748,0416 非现金费用：2,990,0003,990,

21、0003,290,0002,690,0002,490,0002,490,00017,940,0006.1 折旧1,740,0002,740,0002,040,0001,440,0001,240,0001,240,00010,440,0006.2 研究与开发费摊销1,250,0001,250,0001,250,0001,250,0001,250,0001,250,0007,500,0007 营运资本新增额-528,000-570,000-615,000-666,000-717,0009,696,0006,600,0008 经营现金流量净值7,418,0008,316,0008,573,7808,

22、911,1329,461,90320,607,22563,288,041三三、现现金金流流入入预预计计净净残残值值序号项目土地建筑物设备合计1 帐面价值1,200,0006,560,0001,000,0008,760,0001.1 原始价值1,200,0008,000,00010,000,00019,200,0001.2 累计折旧-1,440,0009,000,00010,440,0002 残值1,700,0001,000,0002,000,0004,700,0003 资本损益500,000-5,560,0001,000,000-4,060,0002新建4 所得税200,000-2,224,0

23、00400,000-1,624,0005 净残值1,500,0003,224,0001,600,0006,324,000四四、现现金金流流量量表表序号项目1997199819992000200120022003200420051 现金流入-7,418,0008,316,0008,573,7808,911,1329,461,90326,931,2251.1 经营现金流量净值7,418,0008,316,0008,573,7808,911,1329,461,90320,607,2251.2 回收固定资金残值6,324,0002 现金流出4,200,0004,000,00020,600,000-2.

24、1 原始投资4,200,0004,000,00020,600,0003 净现金流量-4,200,000-4,000,000-20,600,0007,418,0008,316,0008,573,7808,911,1329,461,90326,931,2254 折现系数（i=13.33%)1.00000.88240.77850.68700.60610.53480.47190.41640.36745 净现值-4,200,000-3,529,412-16,038,0625,095,8175,040,6194,585,4724,205,2033,939,8069,894,5226 累计净现值-4,200

25、,000-7,729,412-23,767,474-18,671,657-13,631,038-9,045,567-4,840,364-900,5588,993,964IRR= 22.33%2新建101112131415160.25240.22270.19650.17340.15300.13500.11915.60715.82986.02636.19976.35266.48766.606712340.10000000.90910.82640.75130.6830年金现值系数0.90911.73552.48693.1699一一、现现金金流流出出投投资资总总额额序号项目199719981999合计

26、1 土地1,200,0001,200,0002 建筑物4,000,0004,000,0008,000,0003 设备10,000,00010,000,0004 营运资本净值6,600,0006,600,0005 机会成本3,000,0003,000,0006 合计4,200,0004,000,00020,600,00028,800,000二二、现现金金流流入入净净经经营营现现金金流流量量序号项目20002001200220031.1 销量25,00025,00025,00025,0001.2 销售单价2,2002,3322,4722,6201 销售收入55,000,00058,300,0006

27、1,800,00065,500,0002.1 可变成本35,750,00037,895,00040,170,00042,575,0002.2 固定成本8,000,0008,480,0008,988,8009,528,1282.3 研究与开发费摊销1,250,0001,250,0001,250,0001,250,0002.4 建筑物折旧240,000240,000240,000240,0002.5 设备折旧1,500,0002,500,0001,800,0001,200,0003 税前利润8,260,0007,935,0009,351,20010,706,8724 所得税3,304,0003,1

28、74,0003,740,4804,282,7495 税后利润4,956,0004,761,0005,610,7206,424,1236 非现金费用：2,990,0003,990,0003,290,0002,690,0006.1 折旧1,740,0002,740,0002,040,0001,440,0006.2 研究与开发费摊销1,250,0001,250,0001,250,0001,250,0007 营运资本新增额-396,000-420,000-444,000-471,0008 经营现金流量净值7,550,0008,331,0008,456,7208,643,123三三、现现金金流流入入预预

29、计计净净残残值值序号项目土地建筑物设备合计1 帐面价值1,200,0006,560,0001,000,0008,760,0001.1 原始价值1,200,0008,000,00010,000,00019,200,0001.2 累计折旧-1,440,0009,000,00010,440,0002 变现价值1,700,0001,000,0002,000,0004,700,0003 资本损益500,000-5,560,0001,000,000-4,060,0004 所得税200,000-2,224,000400,000-1,624,0005 净残值1,500,0003,224,0001,600,00

30、06,324,000四四、现现金金流流量量表表序号项目19971998199920001 现金流入-7,550,0001.1 经营现金流量净值7,550,0001.2 回收固定资金残值2 现金流出4,200,0004,000,00020,600,000-2.1 原始投资4,200,0004,000,00020,600,0003 净现金流量-4,200,000-4,000,000-20,600,0007,550,0004 折现系数（i=12%)1.00000.90910.82640.75135 净现值-4,200,000-3,636,364-17,024,7935,672,4276 累计净现值-

31、4,200,000-7,836,364-24,861,157-19,188,730IRR= 21.61%敏感因素不确定因素变化率IRR敏感度系数1投资收益率(NPV)-20%16,620,423-1.39-10%14,743,867-1.3410%11,395,047-1.2420%9,901,508-1.191销售单价-20%-4.09%5.95-10%10.05%5.3510%31.68%4.6620%40.75%4.431销售量-20%14.00%1.76-10%17.99%1.6710%24.91%1.5320%27.96%1.471经营成本-20%40.72%-4.42-10%32.

32、28%-4.9410%6.01%-7.2220%1固定资产变现价值-20%21.44%0.04-10%21.52%0.0410%21.69%0.0420%21.77%0.041固定资产投资-20%25.21%-0.83-10%23.32%-0.7910%20.05%-0.7220%18.63%-0.69566789100.62090.56450.51320.46650.42410.38550.35053.79084.35534.86845.33495.75906.14466.495120042005合计25,00025,0002,7772,94469,425,00073,600,000383,

33、625,00045,126,25047,840,000249,356,25010,099,81610,705,80555,802,5481,250,0001,250,0007,500,000240,000240,0001,440,0001,000,0001,000,0009,000,00011,708,93412,564,19560,526,2024,683,5745,025,67824,210,4817,025,3617,538,51736,315,7212,490,0002,490,00017,940,0001,240,0001,240,00010,440,0001,250,0001,25

34、0,0007,500,000-501,0008,832,0006,600,0009,014,36118,860,51760,855,721200120022003200420058,331,0008,456,7208,643,1239,014,36125,184,5178,331,0008,456,7208,643,1239,014,36118,860,5176,324,000-8,331,0008,456,7208,643,1239,014,36125,184,5170.68300.62090.56450.51320.46655,690,1855,250,9584,878,8184,625,

35、79211,748,763-13,498,545-8,247,587-3,368,7701,257,02313,005,7861112131415160.31860.28970.26330.23940.21760.19786.81377.10347.36677.60617.82378.021612340.10000000.90910.82640.75130.6830年金现值系数0.90911.73552.48693.1699一一、现现金金流流出出投投资资总总额额序号项目199719981999合计1 土地1,200,0001,200,0002 建筑物4,000,0004,000,0008,00

36、0,0003 设备10,000,00010,000,0004 营运资本净值6,600,0006,600,0005 机会成本3,000,0003,000,0006 合计4,200,0004,000,00020,600,00028,800,000二二、现现金金流流入入净净经经营营现现金金流流量量6%序号项目20002001200220031.1 销量25,00025,00025,00025,0001.2 销售单价2,2002,3322,4722,6201 销售收入55,000,00058,300,00061,800,00065,500,0002.1 可变成本35,750,00037,895,000

37、40,170,00042,575,0002.2 固定成本8,000,0008,480,0008,988,8009,528,1282.3 研究与开发费摊销1,250,0001,250,0001,250,0001,250,0002.4 土地使用权摊销60,00060,00060,00060,0002.5 建筑物折旧240,000240,000240,000240,0002.6 设备折旧1,500,0002,500,0001,800,0001,200,0003 税前利润8,200,0007,875,0009,291,20010,646,8724 所得税3,280,0003,150,0003,716,

38、4804,258,7495 税后利润4,920,0004,725,0005,574,7206,388,1236 非现金费用：2,990,0003,990,0003,290,0002,690,0006.1 折旧1,740,0002,740,0002,040,0001,440,0006.2 研究与开发费摊销1,250,0001,250,0001,250,0001,250,0007 营运资本新增额-396,000-420,000-444,000-471,0008 经营现金流量净值7,514,0008,295,0008,420,7208,607,123三三、现现金金流流入入预预计计净净残残值值序号项目

39、土地建筑物设备合计1 帐面价值840,0006,560,0001,000,0008,400,0001.1 原始价值1,200,0008,000,00010,000,00019,200,0001.2 累计折旧360,0001,440,0009,000,00010,800,0002 残值1,700,0001,000,0002,000,0004,700,0003 资本损益860,000-5,560,0001,000,000-3,700,0004 所得税344,000-2,224,000400,000-1,480,0005 净残值1,356,0003,224,0001,600,0006,180,000

40、四四、现现金金流流量量表表序号项目19971998199920001 现金流入-7,514,0001.1 经营现金流量净值7,514,0001.2 回收固定资金残值2 现金流出4,200,0004,000,00020,600,000-2.1 原始投资4,200,0004,000,00020,600,0003 净现金流量-4,200,000-4,000,000-20,600,0007,514,0004 折现系数（i=12%)1.00000.90910.82640.75135 净现值-4,200,000-3,636,364-17,024,7935,645,3796 累计净现值-4,200,000-

41、7,836,364-24,861,157-19,215,778IRR= 21.45%566789100.62090.56450.51320.46650.42410.38550.35053.79084.35534.86845.33495.75906.14466.495120042005合计25,00025,0002,7772,94469,425,00073,600,000383,625,00045,126,25047,840,000249,356,25010,099,81610,705,80555,802,5481,250,0001,250,0007,500,00060,00060,000360

42、,000240,000240,0001,440,0001,000,0001,000,0009,000,00011,648,93412,504,19560,166,2024,659,5745,001,67824,066,4816,989,3617,502,51736,099,7212,490,0002,490,00017,940,0001,240,0001,240,00010,440,0001,250,0001,250,0007,500,000-501,0008,832,0006,600,0008,978,36118,824,51760,639,721200120022003200420058,

43、295,0008,420,7208,607,1238,978,36125,004,5178,295,0008,420,7208,607,1238,978,36118,824,5176,180,000-8,295,0008,420,7208,607,1238,978,36125,004,5170.68300.62090.56450.51320.46655,665,5975,228,6054,858,4974,607,31911,664,792-13,550,181-8,321,576-3,463,0801,144,23912,809,0311112131415160.31860.28970.26

44、330.23940.21760.19786.81377.10347.36677.60617.82378.0216123456670.10000000.90910.82640.75130.68300.62090.56450.51320.4665年金现值系数0.90911.73552.48693.16993.79084.35534.86845.3349税税率率40%25%汇汇率率7.00一一、现现金金流流出出投投资资总总额额序号项目200720082009合计1 土地1,200,0001,200,0002 建筑物4,000,0004,000,0008,000,0003 设备10,000,00010

45、,000,0004 营运资本净值6,600,0006,600,0005 无形资产投资-6 合计1,200,0004,000,00020,600,00025,800,000二二、现现金金流流入入净净经经营营现现金金流流量量6%序号项目201020112012201320142015合计1.1 销量25,00025,00025,00025,00025,00025,0001.2 销售单价2,2002,3322,4722,6202,7772,9441 销售收入55,000,00058,300,00061,800,00065,500,00069,425,00073,600,000383,625,0002

46、.1 可变成本35,750,00037,895,00040,170,00042,575,00045,126,25047,840,000249,356,2502.2 固定成本8,000,0008,480,0008,988,8009,528,12810,099,81610,705,80555,802,5482.3 研究与开发费摊销-2.4 土地使用权摊销60,00060,00060,00060,00060,00060,000360,0002.5 建筑物折旧400,000400,000400,000400,000400,000400,0002,400,0005.00%2.6 设备折旧1,000,00

47、01,000,0001,000,0001,000,0001,000,0001,000,0006,000,00010.00%3 税前利润9,790,00010,465,00011,181,20011,936,87212,738,93413,594,19569,706,2024 所得税2,447,5002,616,2502,795,3002,984,2183,184,7343,398,54917,426,5505 税后利润7,342,5007,848,7508,385,9008,952,6549,554,20110,195,64752,279,6516 非现金费用：1,460,0001,460,0

48、001,460,0001,460,0001,460,0001,460,0008,760,0006.1 折旧1,400,0001,400,0001,400,0001,400,0001,400,0001,400,0008,400,0006.2 土地使用权摊销60,00060,00060,00060,00060,00060,000360,0006.3 研究与开发费摊销-7 营运资本新增额-396,000-420,000-444,000-471,000-501,0008,832,0006,600,0008 经营现金流量净值8,406,5008,888,7509,401,9009,941,65410,5

49、13,20120,487,64767,639,651三三、现现金金流流入入预预计计净净残残值值序号项目土地建筑物设备合计1 帐面价值840,0005,600,0004,000,00010,440,0001.1 原始价值1,200,0008,000,00010,000,00019,200,0001.2 累计折旧360,0002,400,0006,000,0008,760,0002 残值1,700,0001,000,0002,000,0004,700,0003 资本损益860,000-4,600,000-2,000,000-5,740,0004 所得税215,000-1,150,000-500,0

50、00-1,435,0005 净残值1,485,0002,150,0002,500,0006,135,000四四、现现金金流流量量表表序号项目200720082009201020112012201320141 现金流入-8,406,5008,888,7509,401,9009,941,65410,513,2011.1 经营现金流量净值8,406,5008,888,7509,401,9009,941,65410,513,2011.2 回收固定资金残值2 现金流出1,200,0004,000,00020,600,000-2.1 原始投资1,200,0004,000,00020,600,0003 净现

51、金流量-1,200,000-4,000,000-20,600,0008,406,5008,888,7509,401,9009,941,65410,513,2014 折现系数（i=12%)1.00000.90910.82640.75130.68300.62090.56450.51325 净现值-1,200,000-3,636,364-17,024,7936,315,9286,071,1365,837,8405,611,8055,394,9346 累计净现值-1,200,000-4,836,364-21,861,157-15,545,229-9,474,093-3,636,2531,975,551

52、7,370,486IRR= 30.01%89101112131415160.42410.38550.35050.31860.28970.26330.23940.21760.19785.75906.14466.49516.81377.10347.36677.60617.82378.0216201526,622,64720,487,6476,135,000-26,622,6470.466512,419,66119,790,14712340.10000000.90910.82640.75130.6830年金现值系数0.90911.73552.48693.1699税税率率40%25%汇汇率率一一、现现

53、金金流流出出投投资资总总额额序号项目200720082009合计1 土地8,400,000-8,400,0002 建筑物-28,000,00028,000,00056,000,0003 设备-70,000,00070,000,0004 营运资本净值-46,200,00046,200,0005 无形资产投资-6 合计8,400,00028,000,000144,200,000180,600,000二二、现现金金流流入入净净经经营营现现金金流流量量6%序号项目20102011201220131.1 销量25,00025,00025,00025,0001.2 销售单价15,40016,32417,3

54、0318,3411 销售收入385,000,000408,100,000432,575,000458,525,0002.1 可变成本250,250,000265,265,000281,173,750298,041,2502.2 固定成本56,000,00059,360,00062,921,60066,696,8962.3 研究与开发费摊销-2.4 土地使用权摊销420,000420,000420,000420,0002.5 建筑物折旧2,800,0002,800,0002,800,0002,800,0002.6 设备折旧7,000,0007,000,0007,000,0007,000,0003

55、 税前利润68,530,00073,255,00078,259,65083,566,8544 所得税17,132,50018,313,75019,564,91320,891,7145 税后利润51,397,50054,941,25058,694,73862,675,1416 非现金费用：10,220,00010,220,00010,220,00010,220,0006.1 折旧9,800,0009,800,0009,800,0009,800,0006.2 土地使用权摊销420,000420,000420,000420,0006.3 研究与开发费摊销-7 营运资本新增额-2,772,000-2,

56、937,000-3,114,000-3,300,0008 经营现金流量净值58,845,50062,224,25065,800,73869,595,141三三、现现金金流流入入预预计计净净残残值值序号项目土地建筑物设备合计1 帐面价值5,880,00039,200,00028,000,00073,080,0001.1 原始价值8,400,00056,000,00070,000,000134,400,0001.2 累计折旧2,520,00016,800,00042,000,00061,320,0002 残值11,900,0007,000,00014,000,00032,900,0003 资本损益

57、6,020,000-32,200,000-14,000,000-40,180,0004 所得税1,505,000-8,050,000-3,500,000-10,045,0005 净残值10,395,00015,050,00017,500,00042,945,000四四、现现金金流流量量表表序号项目20072008200920101 现金流入-58,845,5001.1 经营现金流量净值58,845,5001.2 回收固定资金残值2 现金流出8,400,00028,000,000144,200,000-2.1 原始投资8,400,00028,000,000144,200,0003 净现金流量-8

58、,400,000-28,000,000-144,200,00058,845,5004 折现系数（i=12%)1.00000.90910.82640.75135 净现值-8,400,000-25,454,545-119,173,55444,211,4956 累计净现值-8,400,000-33,854,545-153,028,099-108,816,604IRR= 30.01%566789100.62090.56450.51320.46650.42410.38550.35053.79084.35534.86845.33495.75906.14466.49517.0020142015合计25,00

59、025,00019,44120,607486,025,000515,175,0002,685,400,000315,916,250334,863,7501,745,510,00070,698,71074,940,632390,617,838-420,000420,0002,520,0002,800,0002,800,00016,800,0005.00%7,000,0007,000,00042,000,00010.00%89,190,04095,150,618487,952,16222,297,51023,787,654121,988,04066,892,53071,362,963365,964

60、,12110,220,00010,220,00061,320,0009,800,0009,800,00058,800,000420,000420,0002,520,000-3,498,00061,821,00046,200,00073,614,530143,403,963473,484,1212011201220132014201562,224,25065,800,73869,595,14173,614,530186,348,96362,224,25065,800,73869,595,14173,614,530143,403,96342,945,000-62,224,25065,800,738