Anda di halaman 1dari 70

Inversin

Ventas anuales
Incremento
Costo Explotacin
Tasa de descuento

Aos 0 1 2 3
Inversin
Ingresos
Ingresos por alquiler

Gastos
Costos Explotacin
Alquiler
Gastos fijos
Depreciacin

Total Gastos $0.00 $0.00 $0.00


Utilidad antes de Impto $0.00 $0.00 $0.00

50% Impuesto sobre la Renta $0.00 $0.00 $0.00


Utilidad $0.00 $0.00 $0.00

Aos 0 1 2 3

Utilidad $ - $ - $ -

Intereses
Reserva
Depreciaicon
Amortizacion
Capital de trabajo
Venta de terrenos
Flujo $ - $ - $ - $ -

VAN $0.00

TIR Err:523
4 5 6 7 8 9

$0.00 $0.00 $0.00 $0.00 $0.00 $0.00


$0.00 $0.00 $0.00 $0.00 $0.00 $0.00

$0.00 $0.00 $0.00 $0.00 $0.00 $0.00


$0.00 $0.00 $0.00 $0.00 $0.00 $0.00

4 5 6 7 8 9

$ - $ - $ - $ - $ - $ -

$ - $ - $ - $ - $ - $ -
10 11 12 13 14 15

$0.00 $0.00 $0.00 $0.00 $0.00 $0.00


$0.00 $0.00 $0.00 $0.00 $0.00 $0.00

$0.00 $0.00 $0.00 $0.00 $0.00 $0.00


$0.00 $0.00 $0.00 $0.00 $0.00 $0.00

10 11 12 13 14 15

$ - $ - $ - $ - $ - $ -

$ - $ - $ - $ - $ - $ -
16 17 18 19 20 21

$0.00 $0.00 $0.00 $0.00 $0.00 $0.00


$0.00 $0.00 $0.00 $0.00 $0.00 $0.00

$0.00 $0.00 $0.00 $0.00 $0.00 $0.00


$0.00 $0.00 $0.00 $0.00 $0.00 $0.00

16 17 18 19 20 21

$ - $ - $ - $ - $ - $ -

$ - $ - $ - $ - $ - $ -
22 23 24 25

$0.00 $0.00 $0.00 $0.00


$0.00 $0.00 $0.00 $0.00

$0.00 $0.00 $0.00 $0.00


$0.00 $0.00 $0.00 $0.00

22 23 24 25

$ - $ - $ - $ -

$ - $ - $ - $ -
Inversin $74,000.00
Ventas anuales
Incremento
Costo Explotacin
Tasa de descuento

Aos 0 1 2 3
Inversin
Ingresos $74,000.00
Ingresos por alquiler

Gastos
Costos Explotacin ($42,000.00)
Alquiler
Gastos fijos
Depreciacin ($10,000.00)

Total Gastos ($52,000.00) $0.00 $0.00


Utilidad antes de Impto $22,000.00 $0.00 $0.00

0% Impuesto sobre la Renta $0.00 $0.00 $0.00


Utilidad $22,000.00 $0.00 $0.00

Aos 0 1 2 3

Utilidad $ 22,000.00 $ - $ -

Intereses
Reserva
Depreciacin 10,000.00
Amortizacion
Capital de trabajo
Venta de terrenos
Flujo $ - $ 32,000.00 $ - $ -

VAN $32,000.00

TIR Err:523
4 5 6 7 8 9

$0.00 $0.00 $0.00 $0.00 $0.00 $0.00


$0.00 $0.00 $0.00 $0.00 $0.00 $0.00

$0.00 $0.00 $0.00 $0.00 $0.00 $0.00


$0.00 $0.00 $0.00 $0.00 $0.00 $0.00

4 5 6 7 8 9

$ - $ - $ - $ - $ - $ -

$ - $ - $ - $ - $ - $ -
10 11 12 13 14 15

$0.00 $0.00 $0.00 $0.00 $0.00 $0.00


$0.00 $0.00 $0.00 $0.00 $0.00 $0.00

$0.00 $0.00 $0.00 $0.00 $0.00 $0.00


$0.00 $0.00 $0.00 $0.00 $0.00 $0.00

10 11 12 13 14 15

$ - $ - $ - $ - $ - $ -

$ - $ - $ - $ - $ - $ -
16 17 18 19 20 21

$0.00 $0.00 $0.00 $0.00 $0.00 $0.00


$0.00 $0.00 $0.00 $0.00 $0.00 $0.00

$0.00 $0.00 $0.00 $0.00 $0.00 $0.00


$0.00 $0.00 $0.00 $0.00 $0.00 $0.00

16 17 18 19 20 21

$ - $ - $ - $ - $ - $ -

$ - $ - $ - $ - $ - $ -
22 23 24 25

$0.00 $0.00 $0.00 $0.00


$0.00 $0.00 $0.00 $0.00

$0.00 $0.00 $0.00 $0.00


$0.00 $0.00 $0.00 $0.00

22 23 24 25

$ - $ - $ - $ -

$ - $ - $ - $ -
Inversin
Ventas anuales
Incremento
Costo Explotacin
Tasa de descuento

Aos 0 1 2
Inversin
Ingresos $200,000,000.00
Ingresos por alquiler

Gastos
Costos Explotacin ($60,000,000.00)
Alquiler
Gastos fijos
Depreciacin

Total Gastos ($60,000,000.00) $0.00


Utilidad antes de Impto $140,000,000.00 $0.00

0% Impuesto sobre la Renta $0.00 $0.00


Utilidad $140,000,000.00 $0.00

Aos 0 1 2

Utilidad $ 140,000,000.00 $ -

Intereses
Reserva
Depreciaicon
Amortizacion
Capital de trabajo
Venta de terrenos
Flujo $ - $ 140,000,000.00 $ -

VAN $140,000,000.00

TIR Err:523
$200,000,000

3 4 5 6 7 8

$0.00 $0.00 $0.00 $0.00 $0.00 $0.00


$0.00 $0.00 $0.00 $0.00 $0.00 $0.00

$0.00 $0.00 $0.00 $0.00 $0.00 $0.00


$0.00 $0.00 $0.00 $0.00 $0.00 $0.00

3 4 5 6 7 8

$ - $ - $ - $ - $ - $ -

$ - $ - $ - $ - $ - $ -
9 10 11 12 13 14

$0.00 $0.00 $0.00 $0.00 $0.00 $0.00


$0.00 $0.00 $0.00 $0.00 $0.00 $0.00

$0.00 $0.00 $0.00 $0.00 $0.00 $0.00


$0.00 $0.00 $0.00 $0.00 $0.00 $0.00

9 10 11 12 13 14

$ - $ - $ - $ - $ - $ -

$ - $ - $ - $ - $ - $ -
15 16 17 18 19 20

$0.00 $0.00 $0.00 $0.00 $0.00 $0.00


$0.00 $0.00 $0.00 $0.00 $0.00 $0.00

$0.00 $0.00 $0.00 $0.00 $0.00 $0.00


$0.00 $0.00 $0.00 $0.00 $0.00 $0.00

15 16 17 18 19 20

$ - $ - $ - $ - $ - $ -

$ - $ - $ - $ - $ - $ -
21 22 23 24 25

$0.00 $0.00 $0.00 $0.00 $0.00


$0.00 $0.00 $0.00 $0.00 $0.00

$0.00 $0.00 $0.00 $0.00 $0.00


$0.00 $0.00 $0.00 $0.00 $0.00

21 22 23 24 25

$ - $ - $ - $ - $ -

$ - $ - $ - $ - $ -
Inversin
Ventas anuales
Incremento
Costo Explotacin
Tasa de descuento

Aos 0 1 2
Inversin
Ingresos 360,000,000
Ingresos por alquiler

Gastos
Costos Explotacin (114,000,000)
Alquiler
Gastos fijos
Depreciacin

Total Gastos ($114,000,000.00) $0.00


Utilidad antes de Impto $246,000,000.00 $0.00

0% Impuesto sobre la Renta $0.00 $0.00


Utilidad $246,000,000.00 $0.00

Aos 0 1 2

Utilidad $ 246,000,000.00 $ -

Intereses
Reserva
Depreciaicon
Amortizacion
Capital de trabajo
Venta de terrenos
Flujo $ - $ 246,000,000.00 $ -

VAN $246,000,000.00 ($140,000,000.00) $106,000,000.00

TIR Err:523

Valor actual SOLO por la introduccion y venta del nuevo procesador seria la resta de ambos
$106,000,000.00
360,000,000

3 4 5 6 7 8

$0.00 $0.00 $0.00 $0.00 $0.00 $0.00


$0.00 $0.00 $0.00 $0.00 $0.00 $0.00

$0.00 $0.00 $0.00 $0.00 $0.00 $0.00


$0.00 $0.00 $0.00 $0.00 $0.00 $0.00

3 4 5 6 7 8

$ - $ - $ - $ - $ - $ -

$ - $ - $ - $ - $ - $ -

resta de ambos
9 10 11 12 13 14

$0.00 $0.00 $0.00 $0.00 $0.00 $0.00


$0.00 $0.00 $0.00 $0.00 $0.00 $0.00

$0.00 $0.00 $0.00 $0.00 $0.00 $0.00


$0.00 $0.00 $0.00 $0.00 $0.00 $0.00

9 10 11 12 13 14

$ - $ - $ - $ - $ - $ -

$ - $ - $ - $ - $ - $ -
15 16 17 18 19 20

$0.00 $0.00 $0.00 $0.00 $0.00 $0.00


$0.00 $0.00 $0.00 $0.00 $0.00 $0.00

$0.00 $0.00 $0.00 $0.00 $0.00 $0.00


$0.00 $0.00 $0.00 $0.00 $0.00 $0.00

15 16 17 18 19 20

$ - $ - $ - $ - $ - $ -

$ - $ - $ - $ - $ - $ -
21 22 23 24 25

$0.00 $0.00 $0.00 $0.00 $0.00


$0.00 $0.00 $0.00 $0.00 $0.00

$0.00 $0.00 $0.00 $0.00 $0.00


$0.00 $0.00 $0.00 $0.00 $0.00

21 22 23 24 25

$ - $ - $ - $ - $ -

$ - $ - $ - $ - $ -
Inversin
Ventas anuales
Incremento
Costo Explotacin
Tasa de descuento

Aos 0 1 2
Inversin
Ingresos $ 160,000,000
Ingresos por alquiler

Gastos
Costos Explotacin (54,000,000)
Alquiler
Gastos fijos
Depreciacin

Total Gastos ($54,000,000.00) $0.00


Utilidad antes de Impto $106,000,000.00 $0.00

0% Impuesto sobre la Renta $0.00 $0.00


Utilidad $106,000,000.00 $0.00

Aos 0 1 2

Utilidad $ 106,000,000.00 $ -

Intereses
Reserva
Depreciaicon
Amortizacion
Capital de trabajo
Venta de terrenos
Flujo $ - $ 106,000,000.00 $ -

VAN $106,000,000.00

TIR Err:523
Ventas Diferencia
Antes Nuevo
360,000,000 $ 200,000,000 $ 360,000,000 $ 160,000,000
Costos
Antes Ahora
$ 60,000,000 $ 114,000,000 $ 54,000,000

3 4 5 6 7 8

$0.00 $0.00 $0.00 $0.00 $0.00 $0.00


$0.00 $0.00 $0.00 $0.00 $0.00 $0.00

$0.00 $0.00 $0.00 $0.00 $0.00 $0.00


$0.00 $0.00 $0.00 $0.00 $0.00 $0.00

3 4 5 6 7 8

$ - $ - $ - $ - $ - $ -

$ - $ - $ - $ - $ - $ -
9 10 11 12 13 14

$0.00 $0.00 $0.00 $0.00 $0.00 $0.00


$0.00 $0.00 $0.00 $0.00 $0.00 $0.00

$0.00 $0.00 $0.00 $0.00 $0.00 $0.00


$0.00 $0.00 $0.00 $0.00 $0.00 $0.00

9 10 11 12 13 14

$ - $ - $ - $ - $ - $ -

$ - $ - $ - $ - $ - $ -
15 16 17 18 19 20

$0.00 $0.00 $0.00 $0.00 $0.00 $0.00


$0.00 $0.00 $0.00 $0.00 $0.00 $0.00

$0.00 $0.00 $0.00 $0.00 $0.00 $0.00


$0.00 $0.00 $0.00 $0.00 $0.00 $0.00

15 16 17 18 19 20

$ - $ - $ - $ - $ - $ -

$ - $ - $ - $ - $ - $ -
21 22 23 24 25

$0.00 $0.00 $0.00 $0.00 $0.00


$0.00 $0.00 $0.00 $0.00 $0.00

$0.00 $0.00 $0.00 $0.00 $0.00


$0.00 $0.00 $0.00 $0.00 $0.00

21 22 23 24 25

$ - $ - $ - $ - $ -

$ - $ - $ - $ - $ -
Inversin
Ventas anuales $160,000.00
Incremento
Costo Explotacin ($50,000.00)
Tasa de descuento

Aos 0 1 2 3
Inversin
Ingresos $160,000.00
Ingresos por alquiler

Gastos
Costos Explotacin ($50,000.00)
Alquiler ($30,000.00)
Gastos fijos
Depreciacin ($10,000.00)

Total Gastos ($90,000.00) $0.00 $0.00


Utilidad antes de Impto $70,000.00 $0.00 $0.00

0% Impuesto sobre la Renta $0.00 $0.00 $0.00


Utilidad $70,000.00 $0.00 $0.00

Aos 0 1 2 3

Utilidad $ 70,000.00 $ - $ -

Intereses
Reserva
Depreciaicon $10,000.00
Amortizacion
Capital de trabajo
Venta de terrenos
Flujo $ - $ 80,000.00 $ - $ -

VAN $80,000.00 gana $115,000 cada ano

TIR Err:523
4 5 6 7 8 9

$0.00 $0.00 $0.00 $0.00 $0.00 $0.00


$0.00 $0.00 $0.00 $0.00 $0.00 $0.00

$0.00 $0.00 $0.00 $0.00 $0.00 $0.00


$0.00 $0.00 $0.00 $0.00 $0.00 $0.00

4 5 6 7 8 9

$ - $ - $ - $ - $ - $ -

$ - $ - $ - $ - $ - $ -
10 11 12 13 14 15

$0.00 $0.00 $0.00 $0.00 $0.00 $0.00


$0.00 $0.00 $0.00 $0.00 $0.00 $0.00

$0.00 $0.00 $0.00 $0.00 $0.00 $0.00


$0.00 $0.00 $0.00 $0.00 $0.00 $0.00

10 11 12 13 14 15

$ - $ - $ - $ - $ - $ -

$ - $ - $ - $ - $ - $ -
16 17 18 19 20 21

$0.00 $0.00 $0.00 $0.00 $0.00 $0.00


$0.00 $0.00 $0.00 $0.00 $0.00 $0.00

$0.00 $0.00 $0.00 $0.00 $0.00 $0.00


$0.00 $0.00 $0.00 $0.00 $0.00 $0.00

16 17 18 19 20 21

$ - $ - $ - $ - $ - $ -

$ - $ - $ - $ - $ - $ -
22 23 24 25

$0.00 $0.00 $0.00 $0.00


$0.00 $0.00 $0.00 $0.00

$0.00 $0.00 $0.00 $0.00


$0.00 $0.00 $0.00 $0.00

22 23 24 25

$ - $ - $ - $ -

$ - $ - $ - $ -
Inversin $1,000,000.00
Ventas anuales $120,000.00
Incremento
Costo Explotacin
Tasa de descuento

Aos 0 1 2 3
Inversin
Ingresos ($1,000,000.00) $120,000.00 $120,000.00 $120,000.00
Ingresos por alquiler

Gastos
Costos Explotacin ($40,000.00) ($40,000.00) ($40,000.00)
Alquiler
Gastos fijos ($15,000.00) ($15,000.00) ($15,000.00)
Depreciacin ($40,000.00) ($40,000.00) ($40,000.00)
amortizacion ($1,321.51) ($1,321.51) ($1,321.51)

Total Gastos ($96,321.51) ($96,321.51) ($96,321.51)


Utilidad antes de Impto $23,678.49 $23,678.49 $23,678.49

0% Impuesto sobre la Renta $0.00 $0.00 $0.00


Utilidad $23,678.49 $23,678.49 $23,678.49

Aos 0 1 2 3

Utilidad $ 23,678.49 $ 23,678.49 $ 23,678.49

Intereses
Reserva
Depreciaicon $40,000.00 $40,000.00 $40,000.00
Amortizacion $1,321.51 $1,321.51 $1,321.51
Capital de trabajo
Venta de terrenos
Flujo ($1,000,000.00) $ 65,000.00 $ 65,000.00 $ 65,000.00

VAN $625,000.00

TIR 4%
4 5 6 7 8 9

$120,000.00 $120,000.00 $120,000.00 $120,000.00 $120,000.00 $120,000.00

($40,000.00) ($40,000.00) ($40,000.00) ($40,000.00) ($40,000.00) ($40,000.00)

($15,000.00) ($15,000.00) ($15,000.00) ($15,000.00) ($15,000.00) ($15,000.00)


($40,000.00) ($40,000.00) ($40,000.00) ($40,000.00) ($40,000.00) ($40,000.00)
($1,321.51) ($1,321.51) ($1,321.51) ($1,321.51) ($1,321.51) ($1,321.51)

($96,321.51) ($96,321.51) ($96,321.51) ($96,321.51) ($96,321.51) ($96,321.51)


$23,678.49 $23,678.49 $23,678.49 $23,678.49 $23,678.49 $23,678.49

$0.00 $0.00 $0.00 $0.00 $0.00 $0.00


$23,678.49 $23,678.49 $23,678.49 $23,678.49 $23,678.49 $23,678.49

4 5 6 7 8 9

$ 23,678.49 $ 23,678.49 $ 23,678.49 $ 23,678.49 $ 23,678.49 $ 23,678.49

$40,000.00 $40,000.00 $40,000.00 $40,000.00 $40,000.00 $40,000.00


$1,321.51 $1,321.51 $1,321.51 $1,321.51 $1,321.51 $1,321.51

$ 65,000.00 $ 65,000.00 $ 65,000.00 $ 65,000.00 $ 65,000.00 $ 65,000.00


10 11 12 13 14 15

$120,000.00 $120,000.00 $120,000.00 $120,000.00 $120,000.00 $120,000.00

($40,000.00) ($40,000.00) ($40,000.00) ($40,000.00) ($40,000.00) ($40,000.00)

($15,000.00) ($15,000.00) ($15,000.00) ($15,000.00) ($15,000.00) ($15,000.00)


($40,000.00) ($40,000.00) ($40,000.00) ($40,000.00) ($40,000.00) ($40,000.00)
($1,321.51)

($96,321.51) ($95,000.00) ($95,000.00) ($95,000.00) ($95,000.00) ($95,000.00)


$23,678.49 $25,000.00 $25,000.00 $25,000.00 $25,000.00 $25,000.00

$0.00 $0.00 $0.00 $0.00 $0.00 $0.00


$23,678.49 $25,000.00 $25,000.00 $25,000.00 $25,000.00 $25,000.00

10 11 12 13 14 15

$ 23,678.49 $ 25,000.00 $ 25,000.00 $ 25,000.00 $ 25,000.00 $ 25,000.00

$40,000.00 $40,000.00 $40,000.00 $40,000.00 $40,000.00 $40,000.00


$1,321.51 $0.00 $0.00 $0.00 $0.00 $0.00

$ 65,000.00 $ 65,000.00 $ 65,000.00 $ 65,000.00 $ 65,000.00 $ 65,000.00


16 17 18 19 20 21

$120,000.00 $120,000.00 $120,000.00 $120,000.00 $120,000.00 $120,000.00

($40,000.00) ($40,000.00) ($40,000.00) ($40,000.00) ($40,000.00) ($40,000.00)

($15,000.00) ($15,000.00) ($15,000.00) ($15,000.00) ($15,000.00) ($15,000.00)


($40,000.00) ($40,000.00) ($40,000.00) ($40,000.00) ($40,000.00) ($40,000.00)

($95,000.00) ($95,000.00) ($95,000.00) ($95,000.00) ($95,000.00) ($95,000.00)


$25,000.00 $25,000.00 $25,000.00 $25,000.00 $25,000.00 $25,000.00

$0.00 $0.00 $0.00 $0.00 $0.00 $0.00


$25,000.00 $25,000.00 $25,000.00 $25,000.00 $25,000.00 $25,000.00

16 17 18 19 20 21

$ 25,000.00 $ 25,000.00 $ 25,000.00 $ 25,000.00 $ 25,000.00 $ 25,000.00

$40,000.00 $40,000.00 $40,000.00 $40,000.00 $40,000.00 $40,000.00


$0.00 $0.00 $0.00 $0.00 $0.00 $0.00

$ 65,000.00 $ 65,000.00 $ 65,000.00 $ 65,000.00 $ 65,000.00 $ 65,000.00


22 23 24 25

$120,000.00 $120,000.00 $120,000.00 $120,000.00

($40,000.00) ($40,000.00) ($40,000.00) ($40,000.00)

($15,000.00) ($15,000.00) ($15,000.00) ($15,000.00)


($40,000.00) ($40,000.00) ($40,000.00) ($40,000.00)

($95,000.00) ($95,000.00) ($95,000.00) ($95,000.00)


$25,000.00 $25,000.00 $25,000.00 $25,000.00

$0.00 $0.00 $0.00 $0.00


$25,000.00 $25,000.00 $25,000.00 $25,000.00

22 23 24 25

$ 25,000.00 $ 25,000.00 $ 25,000.00 $ 25,000.00

$40,000.00 $40,000.00 $40,000.00 $40,000.00


$0.00 $0.00 $0.00 $0.00

$ 65,000.00 $ 65,000.00 $ 65,000.00 $ 65,000.00


Inversin $6,000.00
Ventas anuales
Incremento
Costo Explotacin
Tasa de descuento 16%

Aos 0 1 2 3
Inversin
Ingresos ($6,000.00) $1,500.00 $1,500.00 $1,500.00
Ingresos por alquiler

Gastos
Costos Explotacin
Alquiler
Gastos fijos
Depreciacin ($1,000.00) ($1,000.00) ($1,000.00)

Total Gastos ($1,000.00) ($1,000.00) ($1,000.00)


Utilidad antes de Impto $500.00 $500.00 $500.00

0% Impuesto sobre la Renta $0.00 $0.00 $0.00


Utilidad $500.00 $500.00 $500.00

Aos 0 1 2 3

Utilidad ($6,000.00) $ 500.00 $ 500.00 $ 500.00

Intereses
Reserva
Depreciaicon $1,000.00 $1,000.00 $1,000.00
Amortizacion
Capital de trabajo
Venta de lavadora 2000
Flujo $ (4,000.00) $ 1,500.00 $ 1,500.00 $ 1,500.00

VAN $1,527.10

TIR 30%
4 5 6 7 8 9

$1,500.00 $1,500.00 $1,500.00

($1,000.00) ($1,000.00) ($1,000.00)

($1,000.00) ($1,000.00) ($1,000.00) $0.00 $0.00 $0.00


$500.00 $500.00 $500.00 $0.00 $0.00 $0.00

$0.00 $0.00 $0.00 $0.00 $0.00 $0.00


$500.00 $500.00 $500.00 $0.00 $0.00 $0.00

4 5 6 7 8 9

$ 500.00 $ 500.00 $ 500.00 $ - $ - $ -

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

$ 1,500.00 $ 1,500.00 $ 1,500.00 $ - $ - $ -


10 11 12 13 14 15

$0.00 $0.00 $0.00 $0.00 $0.00 $0.00


$0.00 $0.00 $0.00 $0.00 $0.00 $0.00

$0.00 $0.00 $0.00 $0.00 $0.00 $0.00


$0.00 $0.00 $0.00 $0.00 $0.00 $0.00

10 11 12 13 14 15

$ - $ - $ - $ - $ - $ -

$ - $ - $ - $ - $ - $ -
16 17 18 19 20 21

$0.00 $0.00 $0.00 $0.00 $0.00 $0.00


$0.00 $0.00 $0.00 $0.00 $0.00 $0.00

$0.00 $0.00 $0.00 $0.00 $0.00 $0.00


$0.00 $0.00 $0.00 $0.00 $0.00 $0.00

16 17 18 19 20 21

$ - $ - $ - $ - $ - $ -

$ - $ - $ - $ - $ - $ -
22 23 24 25

$0.00 $0.00 $0.00 $0.00


$0.00 $0.00 $0.00 $0.00

$0.00 $0.00 $0.00 $0.00


$0.00 $0.00 $0.00 $0.00

22 23 24 25

$ - $ - $ - $ -

$ - $ - $ - $ -
Inversin $12,000.00
Ventas anuales
Incremento
Costo Explotacin $3,000.00
Tasa de descuento 20%

Aos 0 1 2 3

$12,000.00 $12,000.00 $12,000.00

Inversion ($12,000.00)
capital de trabajo ($3,000.00)

Gastos
Costos Explotacin ($3,000.00) ($3,000.00) ($3,000.00)
Alquiler
Gastos fijos
Depreciacin ($3,000.00) ($3,000.00) ($3,000.00)

Total Gastos ($6,000.00) ($6,000.00) ($6,000.00)


Utilidad antes de Impto $6,000.00 $6,000.00 $6,000.00

0% Impuesto sobre la Renta $0.00 $0.00 $0.00


Utilidad $6,000.00 $6,000.00 $6,000.00

Aos 0 1 2 3

Utilidad ($15,000.00) $ 6,000.00 $ 6,000.00 $ 6,000.00

Intereses
Reserva
Depreciaicon $3,000.00 $3,000.00 $3,000.00
Amortizacion
Capital de trabajo
Venta de terrenos
Flujo $ (15,000.00) $ 9,000.00 $ 9,000.00 $ 9,000.00
a)
VAN $9,745.37

TIR 50%
4 5 6 7 8 9

$12,000.00

$3,000.00

($3,000.00)

($3,000.00)

($6,000.00) $0.00 $0.00 $0.00 $0.00 $0.00


$9,000.00 $0.00 $0.00 $0.00 $0.00 $0.00

$0.00 $0.00 $0.00 $0.00 $0.00 $0.00


$9,000.00 $0.00 $0.00 $0.00 $0.00 $0.00

4 5 6 7 8 9

$ 9,000.00 $ - $ - $ - $ - $ -

$3,000.00

$ 12,000.00 $ - $ - $ - $ - $ -
10 11 12 13 14 15

$0.00 $0.00 $0.00 $0.00 $0.00 $0.00


$0.00 $0.00 $0.00 $0.00 $0.00 $0.00

$0.00 $0.00 $0.00 $0.00 $0.00 $0.00


$0.00 $0.00 $0.00 $0.00 $0.00 $0.00

10 11 12 13 14 15

$ - $ - $ - $ - $ - $ -

$ - $ - $ - $ - $ - $ -
16 17 18 19 20 21

$0.00 $0.00 $0.00 $0.00 $0.00 $0.00


$0.00 $0.00 $0.00 $0.00 $0.00 $0.00

$0.00 $0.00 $0.00 $0.00 $0.00 $0.00


$0.00 $0.00 $0.00 $0.00 $0.00 $0.00

16 17 18 19 20 21

$ - $ - $ - $ - $ - $ -

$ - $ - $ - $ - $ - $ -
22 23 24 25

$0.00 $0.00 $0.00 $0.00


$0.00 $0.00 $0.00 $0.00

$0.00 $0.00 $0.00 $0.00


$0.00 $0.00 $0.00 $0.00

22 23 24 25

$ - $ - $ - $ -

$ - $ - $ - $ -
Inversin $12,000.00
Ventas anuales
Incremento
Costo Explotacin $3,000.00
Tasa de descuento 20%
inflacion 5%
Tasa real 14%
Aos 0 1 2 3

$12,000.00 $12,000.00 $12,000.00

Inversion ($12,000.00)
capital de trabajo ($3,000.00)

Gastos
Costos Explotacin ($3,000.00) ($3,000.00) ($3,000.00)
Alquiler
Gastos fijos
Depreciacin ($3,000.00) ($3,000.00) ($3,000.00)

Total Gastos ($6,000.00) ($6,000.00) ($6,000.00)


Utilidad antes de Impto $6,000.00 $6,000.00 $6,000.00

0% Impuesto sobre la Renta $0.00 $0.00 $0.00


Utilidad $6,000.00 $6,000.00 $6,000.00

Aos 0 1 2 3

Utilidad ($15,000.00) $ 6,000.00 $ 6,000.00 $ 6,000.00

Intereses
Reserva
Depreciaicon $3,000.00 $3,000.00 $3,000.00
Amortizacion
Capital de trabajo
Venta de terrenos
Flujo $ (15,000.00) $ 9,000.00 $ 9,000.00 $ 9,000.00
b)
VAN $12,829.10

TIR 50%

Mejora la VAN del proyecto. La TIR se mantiene porque no esta en funcion de ello
4 5 6 7 8 9

$12,000.00

$3,000.00

($3,000.00)

($3,000.00)

($6,000.00) $0.00 $0.00 $0.00 $0.00 $0.00


$9,000.00 $0.00 $0.00 $0.00 $0.00 $0.00

$0.00 $0.00 $0.00 $0.00 $0.00 $0.00


$9,000.00 $0.00 $0.00 $0.00 $0.00 $0.00

4 5 6 7 8 9

$ 9,000.00 $ - $ - $ - $ - $ -

$3,000.00

$ 12,000.00 $ - $ - $ - $ - $ -
10 11 12 13 14 15

$0.00 $0.00 $0.00 $0.00 $0.00 $0.00


$0.00 $0.00 $0.00 $0.00 $0.00 $0.00

$0.00 $0.00 $0.00 $0.00 $0.00 $0.00


$0.00 $0.00 $0.00 $0.00 $0.00 $0.00

10 11 12 13 14 15

$ - $ - $ - $ - $ - $ -

$ - $ - $ - $ - $ - $ -
16 17 18 19 20 21

$0.00 $0.00 $0.00 $0.00 $0.00 $0.00


$0.00 $0.00 $0.00 $0.00 $0.00 $0.00

$0.00 $0.00 $0.00 $0.00 $0.00 $0.00


$0.00 $0.00 $0.00 $0.00 $0.00 $0.00

16 17 18 19 20 21

$ - $ - $ - $ - $ - $ -

$ - $ - $ - $ - $ - $ -
22 23 24 25

$0.00 $0.00 $0.00 $0.00


$0.00 $0.00 $0.00 $0.00

$0.00 $0.00 $0.00 $0.00


$0.00 $0.00 $0.00 $0.00

22 23 24 25

$ - $ - $ - $ -

$ - $ - $ - $ -
Inversin
Ventas anuales
Incremento
Costo Explotacin
Tasa de descuento

Aos 0 1 2
Inversin
Ingresos $40,000.00 $30,000.00

Inversion planta y equipo ($45,000.00)


capital de trabajo ($6,000.00) ($4,000.00)

Gastos
Costos Explotacin ($16,000.00) ($12,000.00)
Alquiler
Gastos fijos
Depreciacin

Total Gastos ($16,000.00) ($12,000.00)


Utilidad antes de Impto ($45,000.00) $18,000.00 $14,000.00

0% Impuesto sobre la Renta $0.00 $0.00


Utilidad ($45,000.00) $18,000.00 $14,000.00

Aos 0 1 2

Utilidad ($45,000.00) $ 18,000.00 $ 14,000.00

Intereses
Reserva
Depreciaicon
Amortizacion
Capital de trabajo
Venta de terrenos
Flujo $ (45,000.00) $ 18,000.00 $ 14,000.00

VAN $15,000.00 Esta es la inversion inicial en el producto

TIR 13%
$45,000.00
Variable

40% de ingresos

3 4 5 6 7 8

$20,000.00 $10,000.00 $0.00

($2,000.00) $12,000.00 $0.00

($8,000.00) ($4,000.00) $0.00

($8,000.00) ($4,000.00) $0.00 $0.00 $0.00 $0.00


$10,000.00 $18,000.00 $0.00 $0.00 $0.00 $0.00

$0.00 $0.00 $0.00 $0.00 $0.00 $0.00


$10,000.00 $18,000.00 $0.00 $0.00 $0.00 $0.00

3 4 5 6 7 8

$ 10,000.00 $ 18,000.00 $ - $ - $ - $ -

$ 10,000.00 $ 18,000.00 $ - $ - $ - $ -

en el producto
9 10 11 12 13 14

$0.00 $0.00 $0.00 $0.00 $0.00 $0.00


$0.00 $0.00 $0.00 $0.00 $0.00 $0.00

$0.00 $0.00 $0.00 $0.00 $0.00 $0.00


$0.00 $0.00 $0.00 $0.00 $0.00 $0.00

9 10 11 12 13 14

$ - $ - $ - $ - $ - $ -

$ - $ - $ - $ - $ - $ -
15 16 17 18 19 20

$0.00 $0.00 $0.00 $0.00 $0.00 $0.00


$0.00 $0.00 $0.00 $0.00 $0.00 $0.00

$0.00 $0.00 $0.00 $0.00 $0.00 $0.00


$0.00 $0.00 $0.00 $0.00 $0.00 $0.00

15 16 17 18 19 20

$ - $ - $ - $ - $ - $ -

$ - $ - $ - $ - $ - $ -
21 22 23 24 25

$0.00 $0.00 $0.00 $0.00 $0.00


$0.00 $0.00 $0.00 $0.00 $0.00

$0.00 $0.00 $0.00 $0.00 $0.00


$0.00 $0.00 $0.00 $0.00 $0.00

21 22 23 24 25

$ - $ - $ - $ - $ -

$ - $ - $ - $ - $ -
Inversin
Ventas anuales
Incremento
Costo Explotacin
Tasa de descuento

Aos 0 1 2
Inversin
Ingresos $40,000.00 $30,000.00

Inversion planta y equipo ($45,000.00)


capital de trabajo ($6,000.00) ($4,000.00)

Gastos
Costos Explotacin ($16,000.00) ($12,000.00)
Alquiler
Gastos fijos
Depreciacin

Total Gastos ($16,000.00) ($12,000.00)


Utilidad antes de Impto ($45,000.00) $18,000.00 $14,000.00

0% Impuesto sobre la Renta $0.00 $0.00


Utilidad ($45,000.00) $18,000.00 $14,000.00

Aos 0 1 2

Utilidad ($45,000.00) $ 18,000.00 $ 14,000.00

Intereses
Reserva
Depreciaicon
Amortizacion
Capital de trabajo
Venta de terrenos
Flujo $ (45,000.00) $ 18,000.00 $ 14,000.00

VAN $789.27 Esta es la inversion inicial en el producto

TIR 13%
$45,000.00
Variable

40% de ingresos
12%

3 4 5 6 7 8

$20,000.00 $10,000.00 $0.00

($2,000.00) $12,000.00 $0.00

($8,000.00) ($4,000.00) $0.00

($8,000.00) ($4,000.00) $0.00 $0.00 $0.00 $0.00


$10,000.00 $18,000.00 $0.00 $0.00 $0.00 $0.00

$0.00 $0.00 $0.00 $0.00 $0.00 $0.00


$10,000.00 $18,000.00 $0.00 $0.00 $0.00 $0.00

3 4 5 6 7 8

$ 10,000.00 $ 18,000.00 $ - $ - $ - $ -

$ 10,000.00 $ 18,000.00 $ - $ - $ - $ -

en el producto
9 10 11 12 13 14

$0.00 $0.00 $0.00 $0.00 $0.00 $0.00


$0.00 $0.00 $0.00 $0.00 $0.00 $0.00

$0.00 $0.00 $0.00 $0.00 $0.00 $0.00


$0.00 $0.00 $0.00 $0.00 $0.00 $0.00

9 10 11 12 13 14

$ - $ - $ - $ - $ - $ -

$ - $ - $ - $ - $ - $ -
15 16 17 18 19 20

$0.00 $0.00 $0.00 $0.00 $0.00 $0.00


$0.00 $0.00 $0.00 $0.00 $0.00 $0.00

$0.00 $0.00 $0.00 $0.00 $0.00 $0.00


$0.00 $0.00 $0.00 $0.00 $0.00 $0.00

15 16 17 18 19 20

$ - $ - $ - $ - $ - $ -

$ - $ - $ - $ - $ - $ -
21 22 23 24 25

$0.00 $0.00 $0.00 $0.00 $0.00


$0.00 $0.00 $0.00 $0.00 $0.00

$0.00 $0.00 $0.00 $0.00 $0.00


$0.00 $0.00 $0.00 $0.00 $0.00

21 22 23 24 25

$ - $ - $ - $ - $ -

$ - $ - $ - $ - $ -
Inversin $45,000.00
Ventas anuales Variable
Incremento
Costo Explotacin 40% de ingresos
Tasa de descuento 12%

Aos 0 1 2 3
Inversin
Ingresos $40,000.00 $30,000.00 $20,000.00

Inversion planta y equipo ($45,000.00)


capital de trabajo $6,000.00 $4,000.00 $2,000.00

Gastos
Costos Explotacin ($16,000.00) ($12,000.00) ($8,000.00)
Alquiler
Gastos fijos
Depreciacin

Total Gastos ($16,000.00) ($12,000.00) ($8,000.00)


Utilidad antes de Impto $24,000.00 $18,000.00 $12,000.00

50% Impuesto sobre la Renta $12,000.00 $9,000.00 $6,000.00


Utilidad $36,000.00 $27,000.00 $18,000.00

Aos 0 1 2 3

Utilidad $ 36,000.00 $ 27,000.00 $ 18,000.00

Intereses
Reserva
Depreciaicon
Amortizacion
Capital de trabajo
Venta de terrenos
Flujo $ - $ 36,000.00 $ 27,000.00 $ 18,000.00

VAN $72,198.80 Esta es la VAN con el costo de oportunidad del 12%

TIR Err:523
4 5 6 7 8 9

$10,000.00 $0.00

$0.00 $0.00

($4,000.00) $0.00

($4,000.00) $0.00 $0.00 $0.00 $0.00 $0.00


$6,000.00 $0.00 $0.00 $0.00 $0.00 $0.00

$3,000.00 $0.00 $0.00 $0.00 $0.00 $0.00


$9,000.00 $0.00 $0.00 $0.00 $0.00 $0.00

4 5 6 7 8 9

$ 9,000.00 $ - $ - $ - $ - $ -

$ 9,000.00 $ - $ - $ - $ - $ -
10 11 12 13 14 15

$0.00 $0.00 $0.00 $0.00 $0.00 $0.00


$0.00 $0.00 $0.00 $0.00 $0.00 $0.00

$0.00 $0.00 $0.00 $0.00 $0.00 $0.00


$0.00 $0.00 $0.00 $0.00 $0.00 $0.00

10 11 12 13 14 15

$ - $ - $ - $ - $ - $ -

$ - $ - $ - $ - $ - $ -
16 17 18 19 20 21

$0.00 $0.00 $0.00 $0.00 $0.00 $0.00


$0.00 $0.00 $0.00 $0.00 $0.00 $0.00

$0.00 $0.00 $0.00 $0.00 $0.00 $0.00


$0.00 $0.00 $0.00 $0.00 $0.00 $0.00

16 17 18 19 20 21

$ - $ - $ - $ - $ - $ -

$ - $ - $ - $ - $ - $ -
22 23 24 25

$0.00 $0.00 $0.00 $0.00


$0.00 $0.00 $0.00 $0.00

$0.00 $0.00 $0.00 $0.00


$0.00 $0.00 $0.00 $0.00

22 23 24 25

$ - $ - $ - $ -

$ - $ - $ - $ -
Inversin
Ventas anuales
Incremento
Costo Explotacin
Tasa de descuento 15%

Aos 0 1 2 3
Inversin
Ingresos $7,500,000.00 $7,500,000.00 $7,500,000.00
Ingresos por alquiler

Inversin terrenos ($1,000,000.00)


Inversin edificaciones ($1,000,000.00)
Inversin equipamiento ($2,000,000.00)
Inversin KT ($1,000,000.00)
($5,000,000.00)
Gastos
Costos Explotacin $4,500,000.00 $4,500,000.00 $4,500,000.00
Alquiler
Gastos fijos
Depreciacin ($600,000.00) ($600,000.00) ($600,000.00)

Total Gastos $3,900,000.00 $3,900,000.00 $3,900,000.00


Utilidad antes de Impto ($5,000,000.00) $11,400,000.00 $11,400,000.00 $11,400,000.00

50% Impuesto sobre la Renta $5,700,000.00 $5,700,000.00 $5,700,000.00


Utilidad ($5,000,000.00) $17,100,000.00 $17,100,000.00 $17,100,000.00

Aos 0 1 2 3

Utilidad ($5,000,000.00) $ 17,100,000.00 $ 17,100,000.00 $ 17,100,000.00

Intereses
Reserva
Depreciaicon $600,000.00 $600,000.00 $600,000.00
Amortizacion
Capital de trabajo
Venta de terrenos
Flujo $(5,000,000.00) $ 17,700,000.00 $ 17,700,000.00 $ 17,700,000.00

VAN $55,824,675.44

TIR 354%
4 5 6 7 8 9 10

$7,500,000.00 $7,500,000.00

$1,000,000.00

$4,500,000.00 $4,500,000.00

($600,000.00) ($600,000.00)

$3,900,000.00 $3,900,000.00 $0.00 $0.00 $0.00 $0.00 $0.00


$11,400,000.00 $12,400,000.00 $0.00 $0.00 $0.00 $0.00 $0.00

$5,700,000.00 $6,200,000.00 $0.00 $0.00 $0.00 $0.00 $0.00


$17,100,000.00 $18,600,000.00 $0.00 $0.00 $0.00 $0.00 $0.00

4 5 6 7 8 9 10

$ 17,100,000.00 $ 18,600,000.00 $ - $ - $ - $ - $ -

$600,000.00 $600,000.00

$ 1,500,000.00
$ 17,700,000.00 $ 20,700,000.00 $ - $ - $ - $ - $ -
11 12 13 14 15 16

$0.00 $0.00 $0.00 $0.00 $0.00 $0.00


$0.00 $0.00 $0.00 $0.00 $0.00 $0.00

$0.00 $0.00 $0.00 $0.00 $0.00 $0.00


$0.00 $0.00 $0.00 $0.00 $0.00 $0.00

11 12 13 14 15 16

$ - $ - $ - $ - $ - $ -

$ - $ - $ - $ - $ - $ -
17 18 19 20 21 22

$0.00 $0.00 $0.00 $0.00 $0.00 $0.00


$0.00 $0.00 $0.00 $0.00 $0.00 $0.00

$0.00 $0.00 $0.00 $0.00 $0.00 $0.00


$0.00 $0.00 $0.00 $0.00 $0.00 $0.00

17 18 19 20 21 22

$ - $ - $ - $ - $ - $ -

$ - $ - $ - $ - $ - $ -
23 24 25

$0.00 $0.00 $0.00


$0.00 $0.00 $0.00

$0.00 $0.00 $0.00


$0.00 $0.00 $0.00

23 24 25

$ - $ - $ -

$ - $ - $ -