Documentos de Académico
Documentos de Profesional
Documentos de Cultura
FLUJOS PROYECTADOS
AÑO Flujo
0 -150,000.00
1 26,466.67
2 26,466.67
3 26,466.67
4 26,466.67
5 26,466.67
6 26,466.67
7 26,466.67
8 26,466.67
9 26,466.67
VPN -3,452.81
1 2
Beneficios antes de depreciacion e impuestos 33,000.00 33,000.00
Depreciacion 30,000.00 26,666.67
Beneficios antes de impuestos 3,000.00 6,333.33
Impuesto a la renta 1,200.00 2,533.33
Utilidad neta 1,800.00 3,800.00
Depreciacion 30,000.00 26,666.67
Flujo neto de efectivo 31,800.00 30,466.67
FLUJOS PROYECTADOS
AÑO Flujo
0 -150,000.00
1 31,800.00
2 30,466.67
3 29,133.33
4 27,800.00
5 26,466.67
6 25,133.33
7 23,800.00
8 22,466.67
9 21,133.33
VPN 1,608.72
3 4 5 6 7 8
33,000.00 33,000.00 33,000.00 33,000.00 33,000.00 33,000.00
23,333.33 20,000.00 16,666.67 13,333.33 10,000.00 6,666.67
9,666.67 13,000.00 16,333.33 19,666.67 23,000.00 26,333.33
3,866.67 5,200.00 6,533.33 7,866.67 9,200.00 10,533.33
5,800.00 7,800.00 9,800.00 11,800.00 13,800.00 15,800.00
23,333.33 20,000.00 16,666.67 13,333.33 10,000.00 6,666.67
29,133.33 27,800.00 26,466.67 25,133.33 23,800.00 22,466.67
9
33,000.00
3,333.33
29,666.67
11,866.67
17,800.00
3,333.33
21,133.33
PRESTAMO
0 1 2 3 4
Saldo 70,000.00 63,867.11 56,752.96 48,500.55 38,927.75
Amortizacion 6,132.89 7,114.15 8,252.41 9,572.80
Interes 11,200.00 10,218.74 9,080.47 7,760.09
Cuota 17,332.89 17,332.89 17,332.89 17,332.89
0 1 2 3 4
Ingresos 120,000.00 120,000.00 120,000.00 120,000.00
Costos de operación -40,000.00 -39,999.00 -39,998.00 -39,997.00
Depreciacion -22,000.00 -22,000.00 -22,000.00 -22,000.00
Utilidad antes de impuestos 58,000.00 58,001.00 58,002.00 58,003.00
Impuesto a la renta -23,200.00 -23,200.40 -23,200.80 -23,201.20
Utilidad neta 34,800.00 34,800.60 34,801.20 34,801.80
Depreciacion 22,000.00 22,000.00 22,000.00 22,000.00
Inversion -220,000.00
Flujo efectivo economico -220,000.00 56,800.00 56,800.60 56,801.20 56,801.80
Prestamo 70,000.00
Amortizacion -6,132.89 -7,114.15 -8,252.41 -9,572.80
Interes -11,200.00 -10,218.74 -9,080.47 -7,760.09
Ahorro fiscal 4,480.00 4,087.50 3,632.19 3,104.04
Flujo efectivo financiero -150,000.00 43,947.11 43,555.21 43,100.50 42,572.95
5 6 7 8 9 10
120,000.00 120,000.00 120,000.00 120,000.00 120,000.00 120,000.00
-39,996.00 -39,995.00 -39,994.00 -39,993.00 -39,992.00 -39,991.00
-22,000.00 -22,000.00 -22,000.00 -22,000.00 -22,000.00 -22,000.00
58,004.00 58,005.00 58,006.00 58,007.00 58,008.00 58,009.00
-23,201.60 -23,202.00 -23,202.40 -23,202.80 -23,203.20 -23,203.60
34,802.40 34,803.00 34,803.60 34,804.20 34,804.80 34,805.40
22,000.00 22,000.00 22,000.00 22,000.00 22,000.00 22,000.00
TMAR 10%
VPN 2,352.78
Opcion b)
Costo de adquisicion 63,000.00
Vida util 5 años
Valor de salvamento 3,000.00
Tasa de impuesto 30%
V.S. Despues de impuestos 2,100.00
0 1 2 3 4 5
Ingresos 30,000.00 30,000.00 30,000.00 30,000.00 30,000.00
Depreciacion -12,000.00 -12,000.00 -12,000.00 -12,000.00 -12,000.00
Utilidad antes de impuestos 18,000.00 18,000.00 18,000.00 18,000.00 18,000.00
Impuesto a la renta 5,400.00 5,400.00 5,400.00 5,400.00 5,400.00
Utilidad neta 12,600.00 12,600.00 12,600.00 12,600.00 12,600.00
Depreciacion 12,000.00 12,000.00 12,000.00 12,000.00 12,000.00
Inversion -63,000.00
Valor de salvamento 2,100.00
Flujo neto de efectivo -63,000.00 24,600.00 24,600.00 24,600.00 24,600.00 26,700.00
TMAR 10%
VPN 31,557.29