"Corporate Finance":Capital Budgeting

來源: 正保會計網(wǎng)校編輯：小鞠橘桔 2020/10/10 09:41:54　字體：大小

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Questions 1:

When computing the cash flows for a capital project, which of the following is least likely to be included?

A 、Financing costs

B 、Opportunity costs

C 、Tax effects

Questions 2:

A project has the following annual cash flows:

Corporate Finance:Capital Budgeting

Which of the following discount rates most likely produces the highest net present value (NPV)?

A 、8%

B、 15%

C、 10%

View answer resolution

【Answer to question 1】A

【analysis】

A is correct. Financing costs are not included in a cash flow calculation but are considered in the calculation of the discount rate.

B is incorrect because opportunity costs are considered in computing a firm’s cash flows.

C is incorrect because tax effects are considered in computing a firm’s cash flows.

【Answer to question 2】B

【analysis】

B is correct. The NPV at 15% is $99.93. The NPV at 10% is –$0.01. The NPV at 8% is –$307.59.

A is incorrect. See the above calculation.

C is incorrect. See the above calculati

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