Arequipa- Per
2017
1
NDICE
2
ALTERNATIVA 2....................................................................................... 27
CONCLUSIONES............................................................................................ 28
3
modo como se distribuyen los excedentes netos que generan, se realiz una
reduccin de los ingresos por ventas del 10% y ahora son:
ALTERNATIVA 1
4
498,389.60 112,364.96
S/. S/.
2025 10 0.191064
867,767.36 165,799.51
S/.
VAN =
714,097.33
A la tasa de descuento pertinente el Valor Actual Neto asciende a S/.
714,097.33
Como en VAN > 0 el proyecto es rentable y como tal conviene en
principio llevarlo adelante.
Factor
Factor de
de Flujos Flujos
Descuent
Descuen Descontados Descontados
o
to
S/. S/.
1.000000 1.000000
-362,535.00 -362,535.00
S/. S/.
0.735294 0.729927
-226,903.01 -225,246.79
S/. S/.
0.540657 0.532793
63,026.06 62,109.33
S/. S/.
0.397542 0.388900
79,193.47 77,471.93
S/. S/.
0.292310 0.283869
93,878.88 91,167.75
S/. S/.
0.214934 0.207204
106,063.40 102,248.57
S/. S/.
0.158040 0.151243
78,765.41 75,378.17
S/. S/.
0.116206 0.110397
57,915.74 55,020.56
S/. S/.
0.085445 0.080582
42,585.10 40,160.99
S/. S/.
0.062828 0.058819
31,312.58 29,314.59
S/. S/.
0.046197 0.042933
40,087.98 37,256.12
VAN (+) S/. S/.
VAN (-) =
= 3,390.60 -17,653.77
3,390.60
TIR=0.36+ ( 0.370.36 ) ( 3,390.60+ 17,653.77 )
TIR=0.3316 33.16
5
Como la TIR > COK, es decir 33.16% es mayor que 18%
concluimos que el proyecto es rentable a la tasa pertinente y por
ende debe llevarse a cabo. Se puede comentar adems, que a
cualquier tasa de descuento menor a la de 33.16%, aun se tiene
un valor actual neto positivo a precios de mercado.
Factor de
Tiemp Flujo de Flujo de Beneficios Costos
Aos Actualizaci
o Beneficios Costos Actualizados Actualizados
n
S/. S/. S/. S/.
2015 0 - 362,535.00 1.000000 - 362,535.00
S/. S/. S/. S/.
2016 1 386,532.90 695,121.00 0.847458 327,570.25 589,085.59
S/. S/. S/. S/.
2017 2 479,336.40 362,763.40 0.718184 344,251.94 260,531.03
S/. S/. S/. S/.
2018 3 564,096.60 364,888.92 0.608631 343,326.61 222,082.66
S/. S/. S/. S/.
2019 4 689,259.60 368,098.07 0.515789 355,512.43 189,860.89
S/. S/. S/. S/.
2020 5 866,721.60 373,252.37 0.437109 378,852.00 163,152.05
S/. S/. S/. S/.
2021 6 866,721.60 368,332.00 0.370432 321,061.02 136,441.79
S/. S/. S/. S/.
2022 7 866,721.60 368,332.00 0.313925 272,085.61 115,628.64
S/. S/. S/. S/.
2023 8 866,721.60 368,332.00 0.266038 230,581.02 97,990.37
S/. S/. S/. S/.
2024 9 866,721.60 368,332.00 0.225456 195,407.65 83,042.69
S/. S/. S/. S/.
2025 10 1,236,099.36 368,332.00 0.191064 236,174.67 70,375.16
S/. S/.
Sumatoria de los Flujos Actualizados = 3,004,823.19 2,290,725.86
Valor Actual Neto = 714,097.33
Coeficiente Beneficio Costo = 1.311734087
VA beneficios
CBC=
VA costos
3,004,823.19
CBC= =1.311734087 1.3117
2,290,725.86
6
Como el coeficiente beneficio costo (CBC) es mayor a 1
entonces el proyecto es rentable y por ende debe llevarse a cabo.
En otras palabras los valores actualizados totales de los
beneficios son mayores al de los costos, y podemos extraer de
este dato, que son un 31.17% ms los beneficios que los costos.
7
362,535.00328,354.11
PRI 1= +4=4.069266507
493,469.23
Aos : 4.0
Meses : 0.8
Das : 24.9
Horas : 22.5
362,535.00324,801.01
PRI 2= + 5=5.204388185
184,619.23
Aos : 5.0
Meses : 2.5
Das : 13.6
Horas : 13.9
ALTERNATIVA 2
8
1. Valor Actual Neto (VAN)
Factor de Flujos
Aos Tiempo Flujo Econmico
Descuento Descontados
S/. S/.
2015 0 1.000000
-379,840.00 -379,840.00
S/. S/.
2016 1 0.847458
-254,865.31 -215,987.55
S/. S/.
2017 2 0.718184
212,623.07 152,702.58
S/. S/.
2018 3 0.608631
315,279.76 191,888.99
S/. S/.
2019 4 0.515789
467,296.20 241,026.18
S/. S/.
2020 5 0.437109
760,066.83 332,232.22
S/. S/.
2021 6 0.370432
766,217.29 283,831.05
S/. S/.
2022 7 0.313925
766,217.29 240,534.79
S/. S/.
2023 8 0.266038
766,217.29 203,843.04
S/. S/.
2024 9 0.225456
766,217.29 172,748.34
S/. S/.
2025 10 0.191064
1,161,426.98 221,907.43
S/.
VAN =
1,444,887.06
Factor de
Flujos Factor de Flujos
Descuent
Descontados Descuento Descontados
o
S/. S/.
1.000000 -379,840.00 1.000000 -379,840.00
S/. S/.
0.666667 -169,910.20 0.657895 -167,674.54
9
S/. S/.
0.444444
94,499.14 0.432825 92,028.68
S/. S/.
0.296296 93,416.22 0.284754 89,777.05
S/. S/.
0.197531 92,305.42 0.187338 87,542.29
S/. S/.
0.131687 100,091.10 0.123249 93,677.19
S/. S/.
0.087791 67,267.36 0.081085 62,128.44
S/. S/.
0.058528 44,844.91 0.053345 40,873.97
S/. S/.
0.039018 29,896.61 0.035095 26,890.77
S/. S/.
0.026012 19,931.07 0.023089 17,691.30
S/. S/.
0.017342 20,140.92 0.015190 17,642.33
S/. S/.
VAN (+) = 12,642.55 VAN (-) = -19,262.53
12,642.55
TIR=0.50+ ( 0.520.50 ) ( 12,642.55+19,262.53 )
TIR=0.5079 50.79
10
Actualiza
o Beneficios Actualizados Actualizados
cin
S/. S/. S/.
2015 0 1.000000 S/. -
- 379,840.00 379,840.00
S/. S/. S/. S/.
2016 1 0.847458
483,165.69 738,031.00 409,462.45 625,450.00
S/. S/. S/. S/.
2017 2 0.718184
599,170.07 386,547.00 430,314.61 277,612.04
S/. S/. S/. S/.
2018 3 0.608631
705,121.06 389,841.30 429,158.44 237,269.45
S/. S/. S/. S/.
2019 4 0.515789
861,574.01 394,277.81 444,390.29 203,364.11
S/. S/. S/. S/.
2020 5 0.437109
1,160,787.98 400,721.15 507,391.12 175,158.91
S/. S/. S/. S/.
2021 6 0.370432
1,160,787.98 394,570.69 429,992.48 146,161.43
S/. S/. S/. S/.
2022 7 0.313925
1,160,787.98 394,570.69 364,400.40 123,865.62
S/. S/. S/. S/.
2023 8 0.266038
1,160,787.98 394,570.69 308,813.90 104,970.86
S/. S/. S/. S/.
2024 9 0.225456
1,160,787.98 394,570.69 261,706.70 88,958.36
S/. S/. S/. S/.
2025 10 0.191064
1,555,997.67 394,570.69 297,295.86 75,388.44
S/. S/.
Sumatoria de los Flujos Actualizados =
3,882,926.27 2,438,039.21
Valor Actual Neto = 1,444,887.06
Coeficiente Beneficio Costo = 1.59264308
VA beneficios
CBC=
VA costos
3,882,926.27
CBC= =1.59264308 1.5926
2,438,039.21
11
4. Periodo de Recuperacin de la Inversin (PRI)
379,840.00273,037.52
PRI 1= + 3=3.228554142
467,296.20
Aos
: 3.2
Mese
s: 2.7
Das : 22.3
Hora
s: 6.7
379,840.00369,630.20
PRI 2= +4=3.379621384
332,232.22
Aos : 4.0
Meses
: 0.4
Das : 11.1
Horas
12
: 1.5
Por tanto la primera forma nos permite recuperar la inversin en menos
tiempo, es decir, el periodo de tiempo durante el cual la derogacin del
capital es recuperado es de 3 aos, 2meses, 22 das y 6.7 horas. Pero lo
ms recomendable es tomar los flujos descontados o actualizados a la
tasa del costo de oportunidad de capital, que nos permitira recuperar la
inversin en 4 aos, 11 das y 1.5 horas.
ALTERNATIVA 1
13
1. Valor Actual Neto (VANF)
Factor de
Flujos
Aos Tiempo Flujo Econmico Descuent
Descontados
o
S/. S/.
2015 0 1.000000
-857,885.10 -857,885.10
S/. S/.
2016 1 0.847458
-432,425.63 -366,462.39
S/. S/.
2017 2 0.718184
-7,264.52 -5,217.27
S/. S/.
2018 3 0.608631
-10,544.23 -6,417.54
S/. S/.
2019 4 0.515789
111,409.62 57,463.84
S/. S/.
2020 5 0.437109
283,717.32 124,015.46
S/. S/.
2021 6 0.370432
288,637.69 106,920.51
S/. S/.
2022 7 0.313925
498,389.60 156,456.97
S/. S/.
2023 8 0.266038
498,389.60 132,590.65
S/. S/.
2024 9 0.225456
498,389.60 112,364.96
S/. S/.
2025 10 0.191064
867,767.36 165,799.51
S/.
VAN =
-380,370.40
14
A la tasa de descuento pertinente el Valor Actual Neto asciende
a S/. -380,370.40
Como en VANF < 0 el proyecto no es rentable y como tal no
conviene en principio llevarlo adelante.
Factor Factor
de Flujos de Flujos
Descuen Descontados Descuen Descontados
to to
S/. S/.
1.000000 -857,885.10 1.000000 -857,885.10
S/. S/.
0.892857 -386,094.31 0.884956 -382,677.54
S/. S/.
0.797194 -5,791.23 0.783147 -5,689.19
S/. S/.
0.711780 -7,505.17 0.693050 -7,307.68
S/. S/.
0.635518 70,802.83 0.613319 68,329.61
S/. S/.
0.567427 160,988.83 0.542760 153,990.40
S/. S/.
0.506631 146,232.84 0.480319 138,638.03
S/. S/.
0.452349 225,446.14 0.425061 211,845.80
S/. S/.
0.403883 201,291.20 0.376160 187,474.16
S/. S/.
0.360610 179,724.29 0.332885 165,906.34
S/. S/.
0.321973 279,397.87 0.294588 255,634.15
VAN (+) S/. VAN (-) S/.
= 6,608.18 = -71,741.01
6,608.18
TIRF=0.12+ ( 0.130.12 ) ( 6,608.18+71,741.01 )
TIRF=0.1218 12.08
15
cualquier tasa de descuento menor a la de 12.18%, aun se tiene un
valor actual neto positivo a precios de mercado.
Factor
Tiemp Flujo de Flujos
Aos
o Econmico Descuen Descontados
to
S/. S/.
2015 0 1.000000
-600,519.57 -600,519.57
S/. S/.
2016 1 0.847458
-302,697.94 -256,523.68
S/. S/.
2017 2 0.718184
-5,085.17 -3,652.09
S/. S/.
2018 3 0.608631
-7,380.96 -4,492.28
S/. S/.
2019 4 0.515789
77,986.74 40,224.69
S/. S/.
2020 5 0.437109
198,602.13 86,810.82
S/. S/.
2021 6 0.370432
202,046.39 74,844.35
S/. S/.
2022 7 0.313925
348,872.72 109,519.88
S/. S/.
2023 8 0.266038
348,872.72 92,813.46
S/. S/.
2024 9 0.225456
348,872.72 78,655.47
S/. S/.
2025 10 0.191064
607,437.15 116,059.66
S/.
VAN =
-266,259.28
16
A la tasa de descuento pertinente el Valor Actual Neto asciende a S/.
-266,259.28
Como en VANF < 0 el proyecto no es rentable y como tal no conviene
en principio llevarlo adelante.
Factor Factor
de Flujos de Flujos
Descuen Descontados Descuen Descontados
to to
S/. S/.
1.000000 1.000000
-600,519.57 -600,519.57
S/. S/.
0.892857 0.891266
-270,266.02 -269,784.26
S/. S/.
0.797194 0.794354
-4,053.86 -4,039.42
S/. S/.
0.711780 0.707981
-5,253.62 -5,225.58
S/. S/.
0.635518 0.630999
49,561.98 49,209.54
S/. S/.
0.567427 0.562388
112,692.18 111,691.37
S/. S/.
0.506631 0.501237
102,362.99 101,273.06
S/. S/.
0.452349 0.446735
157,812.30 155,853.66
S/. S/.
0.403883 0.398160
140,903.84 138,907.01
S/. S/.
0.360610 0.354866
125,807.00 123,803.04
S/. S/.
0.321973 0.316280
195,578.51 192,120.09
VAN (+) S/. VAN (-) S/.
= 4,625.73 = -6,711.06
4,625.73
TIR=0.12+ ( 0.1220.120 ) ( 4,625.73+6,711.06 )
TIR=0.1208 12.08
17
Como la TIR < COK, es decir 12.08% es menor que 18%
concluimos que el proyecto es no rentable a la tasa pertinente y
por ende no debe llevarse a cabo. Se puede comentar adems,
que a cualquier tasa de descuento menor a la de 12.08%, aun se
tiene un valor actual neto positivo a precios de mercado.
ALTERNATIVA 2
18
1. Valor Actual Neto (VANF)
Factor
Tiemp Flujo de Flujos
Aos
o Econmico Descuen Descontados
to
S/. S/.
2015 0 1.000000
-902,180.00 -902,180.00
S/. S/.
2016 1 0.847458
-369,780.11 -313,372.97
S/. S/.
2017 2 0.718184
97,708.27 70,172.56
S/. S/.
2018 3 0.608631
105,810.91 64,399.79
S/. S/.
2019 4 0.515789
257,827.36 132,984.48
S/. S/.
2020 5 0.437109
550,597.98 240,671.45
S/. S/.
2021 6 0.370432
556,748.44 206,237.18
S/. S/.
2022 7 0.313925
766,217.29 240,534.79
S/. S/.
2023 8 0.266038
766,217.29 203,843.04
S/. S/.
2024 9 0.225456
766,217.29 172,748.34
S/. S/.
2025 10 0.191064
1,161,426.98 221,907.43
S/.
VAN =
337,946.08
19
Como en VANF > 0 el proyecto es rentable y como tal conviene en
principio llevarlo adelante.
Factor
Factor de
de Flujos Flujos
Descuent
Descuen Descontados Descontados
o
to
S/. S/.
1.000000 -902,180.00 1.000000 -902,180.00
S/. S/.
0.819672 -303,098.45 0.813008 -300,634.23
S/. S/.
0.671862 65,646.51 0.660982 64,583.43
S/. S/.
0.550707 58,270.80 0.537384 56,861.08
S/. S/.
0.451399 116,383.03 0.436897 112,644.13
S/. S/.
0.369999 203,720.84 0.355201 195,573.07
S/. S/.
0.303278 168,849.60 0.288781 160,778.64
S/. S/.
0.248589 190,472.87 0.234782 179,893.79
S/. S/.
0.203761 156,125.31 0.190879 146,255.11
S/. S/.
0.167017 127,971.56 0.155187 118,906.60
S/. S/.
0.136899 158,998.71 0.126168 146,534.81
VAN (+) S/. S/.
= 41,160.78 VAN (-) = -20,783.59
41,160.78
TIRF=0.22+ ( 0.230.22 ) ( 41,160.78+20,783.59 )
TIR=0.2266 22.66
20
EVALUACIN DESPUES DE IMPUESTOS
Factor de
Tiemp Flujos
Aos Flujo Econmico Descuent
o Descontados
o
S/. S/.
2015 0 -631,526.00 1.000000 -631,526.00
S/. S/.
2016 1 -258,846.07 0.847458 -219,361.08
S/. S/.
2017 2 68,395.79 0.718184 49,120.79
S/. S/.
2018 3 74,067.64 0.608631 45,079.85
S/. S/.
2019 4 180,479.15 0.515789 93,089.14
S/. S/.
2020 5 385,418.59 0.437109 168,470.02
S/. S/.
2021 6 389,723.91 0.370432 144,366.03
S/. S/.
2022 7 536,352.10 0.313925 168,374.35
S/. S/.
2023 8 536,352.10 0.266038 142,690.13
S/. S/.
2024 9 536,352.10 0.225456 120,923.84
S/. S/.
2025 10 812,998.88 0.191064 155,335.20
S/.
VAN = 236,562.26
21
Como en VAN > 0 el proyecto es rentable y como tal conviene en
principio llevarlo adelante.
Factor Factor
de Flujos de Flujos
Descuen Descontados Descuen Descontados
to to
S/. S/.
1.000000 -631,526.00 1.000000 -631,526.00
S/. S/.
0.816327 -211,302.92 0.814332 -210,786.71
S/. S/.
0.666389 45,578.20 0.663137 45,355.78
S/. S/.
0.543991 40,292.13 0.540014 39,997.55
S/. S/.
0.444074 80,146.15 0.439751 79,365.83
S/. S/.
0.362510 139,717.95 0.358103 138,019.62
S/. S/.
0.295926 115,329.53 0.291615 113,649.32
S/. S/.
0.241572 129,567.88 0.237471 127,368.32
S/. S/.
0.197202 105,769.70 0.193381 103,720.13
S/. S/.
0.160981 86,342.61 0.157476 84,462.65
S/. S/.
0.131413 106,838.82 0.128238 104,257.25
VAN (+) S/. VAN (-) S/.
= 6,754.06 = -6,116.26
6,754.06
TIR=0.225+ ( 0.2280.225 ) ( 6,754.06+6,116.26 )
TIR=0.2266 22.66
22
EVALUACIN SOCIAL
Esta tiene por objetivo medir el valor del proyecto para la sociedad, esta
permite a la sociedad conocer los efectos que sobre ella producir el proyecto y
consecuentemente establecer la poltica y acciones pertinentes para crear las
condiciones necesarias para ofrecer el grado de estmulo acorde con dichos
efectos.
EXTERNALIDADES
1. EXTERNALIDADES POSITIVAS
2. EXTERNALIDADES NEGATIVAS
23
Ruido de la produccin en la empresa.
Incremento de residuos slidos.
ALTERNATIVA 1
Factor
Flujo de Flujos
Aos
Econmico Descuen Descontados
to
S/. S/.
2015 -259,031.26 1.000000 -259,031.26
S/. S/.
2016 -110,131.05 0.917431 -101,037.66
S/. S/.
2017 220,141.95 0.841680 185,289.08
S/. S/.
2018 303,383.47 0.772183 234,267.70
S/. S/.
2019 426,253.53 0.708425 301,968.75
S/. S/.
2020 600,032.78 0.649931 389,980.14
S/. S/.
2021 603,548.39 0.596267 359,876.18
S/. S/.
2022 603,548.39 0.547034 330,161.64
S/. S/.
2023 603,548.39 0.501866 302,900.58
24
S/. S/.
2024 603,548.39 0.460428 277,890.44
S/. S/.
2025 972,926.15 0.422411 410,974.52
S/.
VAN = 2,433,240.10
Factor Factor
de Flujos de Flujos
Descuen Descontados Descuen Descontados
to to
S/. S/.
1.000000 -259,031.26 1.000000 -259,031.26
S/. S/.
0.606061 -66,746.09 0.604230 -66,544.44
S/. S/.
0.367309 80,860.22 0.365093 80,372.38
S/. S/.
0.222612 67,536.74 0.220600 66,926.47
S/. S/.
0.134916 57,508.52 0.133293 56,816.70
S/. S/.
0.081767 49,063.13 0.080540 48,326.46
S/. S/.
0.049556 29,909.45 0.048664 29,371.36
S/. S/.
0.030034 18,126.94 0.029405 17,747.05
S/. S/.
0.018202 10,986.02 0.017767 10,723.29
S/. S/.
0.011032 6,658.20 0.010735 6,479.33
S/. S/.
0.006686 6,504.90 0.006487 6,311.02
VAN (+) S/. VAN (-) S/.
= 1,376.77 = -2,501.64
25
1,376.77
TIRS=0.65+ ( 0.6550.65 ) ( 1,376.77+2,501.64 )
TIRS=0.6518 65.18
26
S/. S/. S/. S/.
0.225456
2024 9 866,721.60 368,332.00 195,407.65 83,042.69
S/. S/. S/. S/.
0.191064
2025 10 1,236,099.36 368,332.00 236,174.67 70,375.16
S/. S/.
Sumatoria de los Flujos Actualizados = 3,004,823.19 2,290,725.86
Valor Actual Neto = 714,097.33
Coeficiente Beneficio Costo = 1.311734087
Como los beneficios sociales S/. 3, 004,823.19 son mayores que los
costos sociales S/. 2, 290,725.86, entonces sostenemos que es
conveniente poner en marcha el proyecto. Ya que segn la
metodologa de costo beneficio, al ser mayor a la unidad se tiene
ms beneficios que costos.
ALTERNATIVA 2
Factor de
Ao Flujos
Flujo Econmico Descuent
s Descontados
o
201 S/. S/.
5 -271,395.68 1.000000 -271,395.68
201 S/. 0.917431 S/.
27
6 -44,157.46 -40,511.43
201 S/. S/.
7 322,982.24 0.841680 271,847.69
201 S/. S/.
8 426,579.45 0.772183 329,397.60
201 S/. S/.
9 579,862.52 0.708425 410,789.23
202 S/. S/.
0 874,472.72 0.649931 568,347.26
202 S/. S/.
1 878,867.22 0.596267 524,039.81
202 S/. S/.
2 878,867.22 0.547034 480,770.47
202 S/. S/.
3 878,867.22 0.501866 441,073.82
202 S/. S/.
4 878,867.22 0.460428 404,654.88
202 S/. S/.
5 1,274,076.91 0.422411 538,183.86
S/.
VAN = 3,657,197.51
Factor Factor
de Flujos de Flujos
Descuen Descontados Descuen Descontados
to to
S/. S/.
1.000000 -271,395.68 1.000000 -271,395.68
S/. S/.
0.540541 -23,868.90 0.534759 -23,613.61
S/. S/.
0.292184 94,370.27 0.285968 92,362.45
S/. S/.
0.157937 67,372.82 0.152924 65,234.16
S/. S/.
0.085372 49,503.75 0.081777 47,419.68
S/. S/.
0.046147 40,354.10 0.043731 38,241.79
0.024944 S/. 0.023386 S/.
28
21,922.64 20,552.92
S/. S/.
0.013483 11,850.08 0.012506 10,990.87
S/. S/.
0.007288 6,405.45 0.006688 5,877.47
S/. S/.
0.003940 3,462.40 0.003576 3,143.03
S/. S/.
0.002130 2,713.18 0.001912 2,436.57
VAN (+) S/. VAN (-) S/.
= 2,690.11 = -8,750.34
2,690.11
TIRS=0.85+ ( 0.870.85 ) ( 2,690.11+ 8,750.34 )
TIRS=0.8547 85.47
29
4 866,721.60 263,173.21 195,407.65 59,334.00
202 S/. S/. S/. S/.
5 10 1,236,099.36 263,173.21 0.191064 236,174.67 50,283.05
S/. S/.
Sumatoria de los Flujos Actualizados = 3,004,823.19 1,636,723.63
Valor Actual Neto = 1,368,099.57
Coeficiente Beneficio Costo = 1.835876958
ANLISIS
Aqu se tomara en cuenta una variacin del 10% en los ingresos por ventas, y
esto nos podr mostrar que tan sensible es el proyecto a una variacin,
dejndonos con solo 90% de los ingresos por ventas esperados.
ALTERNATIVA 1
Podremos aumentar la inversin hasta llegar a un monto de S/. 1, 076,632.33,
es decir casi hemos triplicado el desembolso en inversin porque multiplicando
la inversin inicial en este documento por 2.9697335, llegaremos al monto
30
antes mencionado y se volvern los beneficios actualizados igual a los costos
actualizados.
Factor de Flujos
Aos Flujo Econmico Descuento Descontados
S/. S/.
2015 -1,076,632.33 1.000000 -1,076,632.33
S/. S/.
2016 -308,588.10 0.847458 -261,515.34
S/. S/.
2017 116,573.00 0.718184 83,720.91
S/. S/.
2018 199,207.68 0.608631 121,243.94
S/. S/.
2019 321,161.53 0.515789 165,651.54
S/. S/.
2020 493,469.23 0.437109 215,699.95
S/. S/.
2021 498,389.60 0.370432 184,619.23
S/. S/.
2022 498,389.60 0.313925 156,456.97
S/. S/.
2023 498,389.60 0.266038 132,590.65
S/. S/.
2024 498,389.60 0.225456 112,364.96
S/. S/.
2025 867,767.36 0.191064 165,799.51
S/.
VAN = -0.00
ALTERNATIVA 2
Podremos aumentar la inversin hasta llegar a un monto de S/. 1, 824,727.07,
es decir casi hemos quintuplicado el desembolso en inversin porque
multiplicando la inversin inicial en este documento por 4.80393604,
llegaremos al monto antes mencionado y se volvern los beneficios
actualizados igual a los costos actualizados.
Factor de Flujos
Aos Flujo Econmico Descuento Descontados
S/. S/.
2015 -1,824,727.07 1.000000 -1,824,727.07
S/. S/.
2016 -254,865.31 0.847458 -215,987.55
S/. S/.
2017 212,623.07 0.718184 152,702.58
2018 S/. 0.608631 S/.
31
315,279.76 191,888.99
S/. S/.
2019 467,296.20 0.515789 241,026.18
S/. S/.
2020 760,066.83 0.437109 332,232.22
S/. S/.
2021 766,217.29 0.370432 283,831.05
S/. S/.
2022 766,217.29 0.313925 240,534.79
S/. S/.
2023 766,217.29 0.266038 203,843.04
S/. S/.
2024 766,217.29 0.225456 172,748.34
S/. S/.
2025 1,161,426.98 0.191064 221,907.43
S/.
VAN = -0.00
CONCLUSIONES
32
Al comparar ambas alternativas en los distintos tipos de evaluacin, se puede concluir
que observamos que la alternativa 2, tiene mayor Valor Actual Neto y Tasa Interna de
Retorno. As que bajo estos criterios elegiremos la alternativa como la mejor, para el
proyecto.
33