Proyek A :

Penyusutan per tahun = (50.000.000 - 5.000.000) / 4 = Rp. 11.250.000,-

Proceed tahun 1 : 5.000.000 + 11.250.000 = 16.250.000
Proceed tahun 2 : 5.400.000 + 11.250.000 = 16.650.000
Proceed tahun 3 : 6.600.000 + 11.250.000 = 17.850.000
Proceed tahun 4 : 8.000.000 + 11.250.000 + 5.000.000 = 24.250.000

a. Payback Period :
Capital Outlay : 50.000.000
Proceed tahun 1 : 16.250.000 -
33.750.000
Proceed tahun 2 : 16.650.000
17.100.000
Proceed tahun 3 : 17.100.000/17.850.000 x 12 bulan = 11,50
Jadi Payback Period proyek A = 2 tahun, 11 bulan, 15 hari

b. Present Value Proceed (NPV) : DF (10%)

Tahun 1 16.250.000 x 0,909091 = 14.772.727
16.650.000 x 0,826446 = 13.760.331
17.850.000 x 0,751315 = 13.410.969
24.250.000 x 0,683013 = 16.563.076
58.507.103
Present Value Capital Outlay : 50.000.000 -
Net Present Value (NPV) 8.507.103

c. Profitability Index (PI) = PV Proceed/PV Capital Outlay

PI = 58.507.103 / 50.000.000 = 1,17

d. Internal Rate of Return (IRR)

Misal : tingkat bunga = 15%
Present Value Proceed (NPV) : DF (15%)
Tahun 1 16.250.000 x 0,869565 = 14.130.435
16.650.000 x 0,756144 = 12.589.792
17.850.000 x 0,657516 = 11.736.665
24.250.000 x 0,571753 = 13.865.016
52.321.908
Present Value Capital Outlay : 50.000.000
Net Present Value (NPV) 2.321.908

Misal : tingkat bunga = 18%

Present Value Proceed (NPV) : DF (18%)
Tahun 1 16.250.000 x 0,847458 = 13.771.186
16.650.000 x 0,718184 = 11.957.771
17.850.000 x 0,608631 = 10.864.061
24.250.000 x 0,515789 = 12.507.880
49.100.898
Present Value Capital Outlay : 50.000.000
Net Present Value (NPV) (899.102)
 I R R = P1 – C1 X P2 – P1
C2 – C1

IRR = 15% - 2.321.908 x ( 18 % - 15 % )

-899.102-2.321.908

= 15% - 69.657,24
- 3.221.010
= 15% + 2,16 %
= 17,16%
Proyek B :