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Tabel 1

PROYEKSI PENJUALAN
TAHUN
1
2
3
4

UNIT PRICE UNIT SALES


$ 1,000.00
$ 1,000.00
$ 1,000.00
$ 1,000.00

6000
6000
6000
6000

SALES REVENUE
$
6,000,000.00
$
6,000,000.00
$
6,000,000.00
$
6,000,000.00

Tabel 2
ANNUAL DEPRECIATION
TAHUN
1
2
3
4
5
6
7
8

MACRS
14.49%
24.49%
17.49%
12.49%
8.93%
8.92%
8.93%
4.46%

HARGA PEROLEHAN
AKTIVA
$
1,250,000.00
$
1,250,000.00
$
1,250,000.00
$
1,250,000.00
$
1,250,000.00
$
1,250,000.00
$
1,250,000.00
$
1,250,000.00
TOTAL

$
$
$
$
$
$
$
$
$

DEPRESIASI
NILAI BUKU
($)
AKHIR TAHUN
181,125.00 $ 1,071,375.00
306,125.00 $
765,250.00
218,625.00 $
546,625.00
156,125.00 $
390,500.00
111,625.00 $
278,875.00
111,500.00 $
167,375.00
111,625.00 $
55,750.00
55,750.00
1,252,500.00

TABEL 3
PROYEKSI INCOME STATEMENT
TAHUN
NO
1
2
3
4
5
6
7
8
9

Unit Price
Unit Sales
Revenue
Variabel Cost
Fixed Cost
Depresiatiaon
EBIT (3-4-5-6)
Taxes 34%
Net Income

$
$
$
$
$
$
$
$

1
1,000.00
6000
6,000,000.00
2,400,000.00
450,000.00
181,125.00
2,968,875.00
1,009,417.50
1,959,457.50

$
$
$
$
$
$
$
$

2
1,000.00
6000
6,000,000.00
2,400,000.00
450,000.00
306,125.00
2,843,875.00
966,917.50
1,876,957.50

TABEL 4
Perubahan Net Working Capital (NWC)
TAHUN
0
1
2
3
4

REVENUE
$
$
$
$

6,000,000.00
6,000,000.00
6,000,000.00
6,000,000.00

$
$
$
$
$

NWC
1,150,000.00
1,500,000.00
1,500,000.00
1,500,000.00
1,500,000.00

CASH FLOW
$ (1,150,000.00)
$ (350,000.00)
$
$
$
-

$
$
$
$
$
$
$
$

3
1,000.00
6000
6,000,000.00
2,400,000.00
450,000.00
218,625.00
2,931,375.00
996,667.50
1,934,707.50

$
$
$
$
$
$
$
$

4
1,000.00
6000
6,000,000.00
2,400,000.00
450,000.00
156,125.00
2,993,875.00
1,017,917.50
1,975,957.50

PROJECTED CASH FLOW


0
I. OPERATING CASH FLOW
1. EBIT
2. Depreciation
3. Taxes
4. OPERATING CASH FLOW
II. NWC
1. Intial
2. Change NWC
3. NWC recovery
4. Total Change in NWC
III. CAPITAL SPENDING
1. Initial Outlay
2. After-tax Salvage
CAPITAL SPENDING

TAHUN
2

1
$ 2,968,875.00
$ 181,125.00
$ 1,009,417.50
$ 2,140,582.50

$
$
$
$

2,843,875.00
306,125.00
966,917.50
2,183,082.50

$ (1,150,000.00)
$

(350,000.00)

$ (1,150,000.00) $

(350,000.00)

$ (1,250,000.00)

TABEL 5 PROJECTED CASH


0

OPERATING CASH FLOW


CHANGE IN NWC
CAPITAL SPENDING
TOTAL PROJECT CASH FLOW

TAHUN
2
2,182,082.50
-

1
$ 2,140,582.50 $
$ (1,150,000.00) $ (350,000.00)
$ (1,250,000.00)
$ (2,400,000.00) $ 1,790,582.50 $ 218,308,250.00

HUN
3

$ 2,931,375.00
$ 218,625.00
$ 996,667.50
$ 2,153,332.50

$ 2,993,875.00
$ 156,125.00
$ 1,017,917.50
$ 2,132,082.50

$ 1,500,000.00
$ 1,500,000.00

412,500.00

HUN
3
$ 2,153,332.50
$ 2,153,322.50

4
$ 2,132,082.50
$ 412,500.00
$ 2,544,582.50

PERHITUNGAN NPV PROYEK


TAHUN
0
1
2
3
4

CASH FLOW
RRR 28%
$ (2,400,000.00)
1
$ 1,790,582.50
0.78125
$ 2,182,082.50 0.610352
$ 2,153,332.50 0.476837
$ 2,544,582.50 0.372529
NPV

$
$
$
$
$
$

PV.CF
(2,400,000.00)
1,398,892.58
1,331,837.46
1,026,788.95
947,930.85
2,305,449.84

PERHITUNGAN IRR
(mencari NPV negatif dilakukan dengan coba-coba)
TAHUN
CASH FLOW
RRR 84%
PV.CF
0
$ (2,400,000.00)
1 $ (2,400,000.00)
1
$ 1,790,582.50 0.543478 $
973,142.66
2
$ 2,182,082.50 0.295369 $ 644,518.70
3
$ 2,153,332.50 0.160526 $ 345,666.77
4
$ 2,544,582.50 0.087243 $
221,996.05
NPV
$ (214,675.83)
IRR

= 0.28 + (2,305,499.84 : ((2,305,449.84) -(-214,675.83))) X 0.84-0.28


= 0,7923
= 79.23%

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