oleh : arwan apriyono. if b/c formula assess 1 project the project is profitable, if this ratio is...
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EKONOMI REKAYASA
PERTEMUAN IIIB/C & PAYBACK METHOD
Oleh :Arwan Apriyono
PROGRAM STUDI TEKNIK SIPIL JURUSAN TEKNIK FAKULTAS SAINS DAN TEKNIK UNSOED
TAHUN 2011
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IfB/C Formula
Assess 1 Project
The project is profitable, if this ratio is greater than one,
Assess >2 Project
Use incrementa Analysis
If B/C ≥ 1 choose the higher investation
If B/C < 1 , choose the lower investation
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Assess 1 Project
A car leasing company buys a car from a wholesaler for $24,000 and leases it to a customer for four years at $5,000 per year. Since the maintenance is not included in the lease, the leasing company has to spend $400 per year in servicing the car. At the end of the four years, the leasing company takes back the car and sells it to a secondhand car dealer for $ 15,000. For the moment, in constructing the cash flow diagram, we will not consider tax, inflation, and depreciation.
Example
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Step 1 Make cast flow diagram
Example
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Example
Step 1 Calculate the net present value of the benefits and the costs.
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Compare 2 Project
Project A : Example 1
Project B :
Buy a car at $25,000, lease it for two years at $10,000 per year with no maintenance cost and sell it for $18,000 at the end of two years.
Assuming an interest rate of 10%, which project should we choose?
Example
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Solution
Castflow Project A Castflow Project B
Increment Castflow
Example
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ExampleSolution
B/C lebih dari 1, maka ambil project yang investasi lebih besarJika B/C lebih kecil dari 1, ambil project yang investasi/cost lebih kecil
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If
is the period of time required for the benefits of an investment to equal the cost of the investment
We first construct the net cash flow diagram and then by simple arithmetic calculation add the benefits and the cost year by year until the total equals the initial investment.
The payback period neglects the time value of money and is only accurate when the interest rate is zero
Many analysts consider this method to be a useful quick and dirty way of comparison.
Payback Method Benefit tidak sama dengan
profitProfit = benefit - cost
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IfExample
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Alternative A :Payback period is the period of time
required for the profit or other benefits of an investment to equal the cost of the investment. Thus the payback period for Alt. A is 2.5 years.Alternative B :
Since the annual benefits are uniform, the payback period is simply :$2783/$1200 per year - 2.3 yearsTominimize the payback period, choose Alt. B
Example
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Two machines are being considered for purchase. If the MARR is 10%,which machine should be bought? 1. Use an IRR analysis comparison.2. Use a payback periode analysis3. If, interest is 15%, which machine should be
chosen
Task 3 Dikumpulkan Kamis 8 Desember 2011