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2019 2020 2021 CAGR

Ventas S/ 6,033,830 S/ 9,597,794 S/ 13,029,074 46.95%


Costo de ventas S/ 4,555,542 S/ 6,967,998 S/ 9,276,701 42.70%
Margen Bruto S/ 1,478,288 S/ 2,629,796 S/ 3,752,373
24.5% 27.4% 28.8%
Gastos S/ 1,424,579 S/ 2,065,369 S/ 3,391,257 54.29%
23.6% 21.5% 26.0%
EBITDA S/ 53,709 S/ 564,426 S/ 361,116 159.30%
0.9% 5.9% 2.8%
Depreciación del período S/ 42,123 S/ 128,563 S/ 228,614
EBIT S/ 11,586 S/ 435,863 S/ 132,502 238.17%
0.2% 4.5% 1.0%

Ingresos 2019 2020 2021 Datos relevantes de las 7 tiendas del 2021 (mensuales)
Número de tiendas 4 5 7 A B C D E F G Promedio Desviación mínimo Máximo
Nro Promedio tickets mensuales 7,956.00 10,756.00 13,856.00
Nro de Tickets promedio por tienda mensual 1,989 2,151 1,979 2,470.00 2,650.00 2,180.00 2,651.86 1,223.29 1,065.14 1,615.00 1,979.33 673.70 1,065.14 2,651.86
Ticket promedio S/ 63.20 S/ 74.36 S/ 78.36 S/ 81.56 S/ 89.30 S/ 69.36 S/ 72.00 S/ 102.30 S/ 62.00 S/ 72.01 78.36 13.74 62.00 102.30
Ventas anuales S/ 6,033,830 S/ 9,597,794 S/ 13,029,074
Ventas mensuales promedio por tienda S/ 125,705 S/ 159,963 S/ 155,108 S/ 201,453 S/ 236,645 S/ 151,205 S/ 190,934 S/ 125,142 S/ 66,039 S/ 116,296 S/ 155,388 58,355.17

Costos variables 2019 2020 2021


Promedio 75.50% 72.60% 71.20% 71.35% 71.05% 70.25% 71.63% 71.50% 70.60% 72.05% 71.20% 0.62%

Gastos 2019 2020 2021


Gastos anual. Administración, logistica, Compras S/ 435,263 S/ 538,263 S/ 685,362
Asignacion publicidad, eventos y redes (% de ventas) 0.9% 1.5% 2.8%
Gastos por tienda mensuales (vendedores, servicios) S/ 7,212 S/ 9,253 S/ 12,492 S/ 15,588 S/ 16,724 S/ 13,758 S/ 16,736 S/ 7,720 S/ 6,722 S/ 10,192 S/ 12,491 S/ 4,252
Alquiler promedio mensual S/ 10,500 S/ 10,856 S/ 12,493 S/ 15,236 S/ 16,253 S/ 14,675 S/ 13,253 S/ 10,256 S/ 8,214 S/ 9,563 S/ 12,493 S/ 3,133
Servicios y comisiones ligados a ventas (tarjeta, programa de venta) 1.45% 1.84% 1.86%

Inversiones (CAPEX y Capital de trabajo) 2021


Inversion promedio estimada por tienda (adecuación) S/ 160,000
Depreciacion 5 años
Valor de recupero (% de la inversion inicial) 35.00%
tasa impuesto a la renta 29.50%
Tasa de descuento (CCPP) 12.00%
PPC 2.00 3.18 3.41
PPI 45.00 38.00 51.36
PPP - 12.36 23.45
CCE 47.00 28.82 31.32

Datos importantes de los EEFF 2021


Efectivo S/ 72,563
Cuentas por cobrar S/ 33,521 S/ 84,781 S/ 144,767
Inventario S/ 569,443 S/ 735,511 S/ 1,236,893
Cuentas por pagar S/ 0 S/ 239,235 S/ 644,215
Activo fijo neto S/ 856,963
Préstamos con Intermediarios financieros S/ 115,236

Capital de trabajo S/ 602,964 S/ 581,057 S/ 737,446


S/ 156,389
Nro de Tickets promedio por tienda mensual 1,979.43
Ticket promedio S/ 78.36

Costo de ventas 71.20%

Gastos anual. Administración, logistica, Compras 685,362.00


Asignacion publicidad, eventos y redes (% de ventas) 2.80%
Gastos por tienda mensuales (vendedores, servicios) 12,492.00
Alquiler promedio mensual 12,493.00
Servicios y comisiones ligados a ventas (tarjeta, programa de venta) 1.86%

Inversiones (CAPEX y Capital de trabajo) 2021


Inversion promedio estimada por tienda (adecuación) S/ 160,000
Depreciacion 5 años
Valor de recupero (% de la inversion inicial) 35.00%
tasa impuesto a la renta 29.50%
Tasa de descuento (CCPP) 12.00%
PPC 3.41
PPI 51.36
PPP 23.45
CCE 31.32

Nro de Tickes
Ticket Promedio
0 1 2 3
Ingresos S/ 1,861,296 S/ 1,861,296 S/ 1,861,296
Costo de ventas S/ 1,325,243 S/ 1,325,243 S/ 1,325,243
Margen Bruto S/ 536,053 S/ 536,053 S/ 536,053
Administración S/ 68,536 S/ 52,720 S/ 42,835
Publicidad S/ 52,116 S/ 52,116 S/ 52,116
Gastos tienda S/ 149,904 S/ 149,904 S/ 149,904
Alquiler S/ 149,916 S/ 149,916 S/ 149,916
Servicios S/ 34,620 S/ 34,620 S/ 34,620
EBITDA S/ 80,961 S/ 96,777 S/ 106,662
Depreciacion S/ 56,485 S/ 56,485 S/ 56,485
EBIT S/ 24,476 S/ 40,292 S/ 50,177
Impuestos S/ 7,220 S/ 11,886 S/ 14,802
Depreciacion S/ 56,485 S/ 56,485 S/ 56,485
NOPAT S/ 73,740 S/ 84,891 S/ 91,860
Capex S/ 160,000 S/ 0 S/ 0 S/ 0
Inv capital de trabajo S/ 120,374 S/ 0 S/ 0 S/ 0
Valor de recupero
Recupero del KdeW
Flujo de caja Libre -S/ 280,374 S/ 73,740 S/ 84,891 S/ 91,860

CCPP 12.00%
Valor S/ 136,809
TIR 26.42%
IR 1.49

Activo fijo bruto S/ 282,423 S/ 282,423 S/ 282,423 S/ 282,423

Cuentas por cobrar S/ 17,631 S/ 17,631 S/ 17,631 S/ 17,631


Inventarios S/ 189,068 S/ 189,068 S/ 189,068 S/ 189,068
Cuentas por pagar S/ 86,325 S/ 86,325 S/ 86,325 S/ 86,325
Capital de trabajo S/ 120,374 S/ 120,374 S/ 120,374 S/ 120,374

1) Análisis de sensibilidad: 1 variable


Valor
Mínimo Máximo S/ 136,809
1,065
1,065.14 2,651.86 1,265
62.00 102.30 1,465
1,731
1,865
2,065
2,265
2,465
2,665

Valor
S/ 136,809
62
69
82
92
102

Capacidad de pago
Ratio Cobertura = EBITDA / intereses =12.5

EBITDA S/.80,961
Cobertura 12.5 AAA
Intereses que podriamos pagar S/.6,477
Tasa del Banco 8.00%
Prestamo S/.80,961

Flujo de caja de patrimonio

+ Flujo de caja libre -S/.280,374 S/.73,740 S/.84,891 S/.91,860


+ Desembolsos S/.80,961
- intereses -S/.6,477 -S/.5,373 -S/.4,180
- amortizaciones -S/.13,800 -S/.14,904 -S/.16,097
+ escudo tributario de los intereses S/.1,911 S/.1,585 S/.1,233
Flujo de caja de patrimonio -S/.199,413 S/.55,374 S/.66,198 S/.72,816

TIR 32.35% rentabilidad de los accionistas

Cronograma de pago con cuotas fijas


Saldo Interes Amortizacion Cuota
0 S/.80,961
1 S/.67,160 S/.6,477 S/.13,800 S/.20,277
2 S/.52,256 S/.5,373 S/.14,904 S/.20,277
3 S/.36,160 S/.4,180 S/.16,097 S/.20,277
4 S/.18,775 S/.2,893 S/.17,384 S/.20,277
5 S/.0 S/.1,502 S/.18,775 S/.20,277
4 5
S/ 1,861,296 S/ 1,861,296
S/ 1,325,243 S/ 1,325,243
S/ 536,053 S/ 536,053
S/ 36,072 S/ 31,153
S/ 52,116 S/ 52,116
S/ 149,904 S/ 149,904
S/ 149,916 S/ 149,916
S/ 34,620 S/ 34,620
S/ 113,425 S/ 118,344
S/ 56,485 S/ 56,485
S/ 56,941 S/ 61,859
S/ 16,797 S/ 18,249
S/ 56,485 S/ 56,485
S/ 96,628 S/ 100,096
S/ 0 S/ 0
S/ 0 S/ 0
S/ 56,000
S/ 120,374
S/ 96,628 S/ 276,469

S/ 282,423 S/ 282,423

S/ 17,631 S/ 0
S/ 189,068 S/ 0
S/ 86,325 S/ 0
S/ 120,374 S/ 0

nálisis de sensibilidad: 1 variable


TIR IR 2) Análisis de escenarios: 2 o más variables
26.4% 1.49 S/ 136,809 62 72 82
-0.63 1,065
-0.08 1,265
0.41 1,465
1.00 1,521
1.27 1,865
1.64 2,065
1.99 2,265
2.30 2,465
2.60 2,665

TIR IR
26.4% 1.49
0.64
1.00
1.66
2.08
2.47

S/.96,628 S/.276,469

-S/.2,893 -S/.1,502
-S/.17,384 -S/.18,775
S/.853 S/.443
S/.77,204 S/.256,635
92 102
Nro de Tickets promedio por tienda mensual 1,979.43
Ticket promedio S/ 78.36

Costo de ventas 71.20%

Gastos anual. Administración, logistica, Compras 685,362.00


Asignacion publicidad, eventos y redes (% de ventas) 2.80%
Gastos por tienda mensuales (vendedores, servicios) 12,492.00
Alquiler promedio mensual 12,493.00
Servicios y comisiones ligados a ventas (tarjeta, programa de venta) 1.86%

Inversiones (CAPEX y Capital de trabajo) 2021


Inversion promedio estimada por tienda (adecuación) S/ 160,000
Depreciacion 5 años
Valor de recupero (% de la inversion inicial) 35.00%
tasa impuesto a la renta 29.50%
Tasa de descuento (CCPP) 12.00%
PPC 3.41
PPI 51.36
PPP 23.45
CCE 31.32

Nro de Tickes
Ticket Promedio
0 1 2 3
Ingresos S/ 13,029,074 S/ 18,612,963 S/ 24,196,852 S/ 29,780,740
Costo de ventas S/ 9,276,701 S/ 13,252,429 S/ 17,228,158 S/ 21,203,887
Margen Bruto S/ 3,752,373 S/ 5,360,533 S/ 6,968,693 S/ 8,576,853
Administración S/ 685,362 S/ 685,362 S/ 685,362 S/ 685,362
Publicidad S/ 364,814 S/ 521,163 S/ 677,512 S/ 833,861
Gastos tienda S/ 1,049,328 S/ 1,499,040 S/ 1,948,752 S/ 2,398,464
Alquiler S/ 1,049,412 S/ 1,499,160 S/ 1,948,908 S/ 2,398,656
Servicios S/ 242,341 S/ 346,201 S/ 450,061 S/ 553,922
EBITDA S/ 361,116 S/ 809,607 S/ 1,258,098 S/ 1,706,589
Depreciacion S/ 228,614 S/ 267,393 S/ 363,393 S/ 459,393
EBIT S/ 132,502 S/ 542,215 S/ 894,705 S/ 1,247,196
Impuestos S/ 39,088 S/ 159,953 S/ 263,938 S/ 367,923
Depreciacion S/ 228,614 S/ 267,393 S/ 363,393 S/ 459,393
NOPAT S/ 322,028 S/ 649,654 S/ 994,160 S/ 1,338,666
Capex S/ 480,000 S/ 480,000 S/ 480,000 S/ 480,000
Inv capital de trabajo S/ 156,389 S/ 466,292 S/ 361,121 S/ 361,121
Valor de recupero
Recupero del KdeW
Flujo de caja Libre -S/ 314,361 -S/ 296,638 S/ 153,039 S/ 497,545

CCPP 12.00%
Valor S/ 3,084,662
TIR 78.10%
IR 10.81

Activo fijo bruto S/ 1,336,963 S/ 1,816,963 S/ 2,296,963 S/ 2,776,963

Cuentas por cobrar S/ 144,767 S/ 176,306 S/ 229,198 S/ 282,090


Inventarios S/ 1,236,893 S/ 1,890,680 S/ 2,457,884 S/ 3,025,088
Cuentas por pagar S/ 644,215 S/ 863,249 S/ 1,122,223 S/ 1,381,198
Capital de trabajo S/ 737,446 S/ 1,203,738 S/ 1,564,859 S/ 1,925,980

1) Análisis de sensibilidad: 1 variable


Valor
Mínimo Máximo S/ 3,084,662
1,065
1,065.14 2,651.86 1,265
62.00 102.30 1,465
1,619
1,865
2,065
2,265
2,465
2,665

Valor
S/ 3,084,662
62
64
82
92
102

Flujo de caja de patrimonio

+ Flujo de caja libre -S/.314,361 -S/.296,638 S/.153,039 S/.497,545


+ Desembolsos S/.115,236
- intereses -S/.9,219 -S/.7,647 -S/.5,950
- amortizaciones -S/.19,643 -S/.21,214 -S/.22,911
+ escudo tributario de los intereses S/.2,720 S/.2,256 S/.1,755
Flujo de caja de patrimonio -S/.199,125 -S/.322,780 S/.126,433 S/.470,438

TIR 87.84% rentabilidad de los accionistas

Cronograma de pago con cuotas fijas


Saldo Interes Amortizacion Cuota
0 S/.115,236
1 S/.95,593 S/.9,219 S/.19,643 S/.28,862
2 S/.74,379 S/.7,647 S/.21,214 S/.28,862
3 S/.51,468 S/.5,950 S/.22,911 S/.28,862
4 S/.26,724 S/.4,117 S/.24,744 S/.28,862
5 S/.0 S/.2,138 S/.26,724 S/.28,862
4 5
S/ 35,364,629 S/ 40,948,518
S/ 25,179,616 S/ 29,155,345
S/ 10,185,013 S/ 11,793,173
S/ 685,362 S/ 685,362
S/ 990,210 S/ 1,146,559
S/ 2,848,176 S/ 3,297,888
S/ 2,848,404 S/ 3,298,152
S/ 657,782 S/ 761,642
S/ 2,155,079 S/ 2,603,570
S/ 555,393 S/ 651,393
S/ 1,599,687 S/ 1,952,178
S/ 471,908 S/ 575,892
S/ 555,393 S/ 651,393
S/ 1,683,172 S/ 2,027,678
S/ 480,000 S/ 480,000
S/ 361,121 S/ 361,121
S/ 840,000
S/ 2,648,223
S/ 842,051 S/ 4,674,779

S/ 3,256,963 S/ 3,736,963

S/ 334,982 S/ 387,873
S/ 3,592,292 S/ 4,159,496
S/ 1,640,172 S/ 1,899,147
S/ 2,287,101 S/ 2,648,223

nálisis de sensibilidad: 1 variable


TIR IR 2) Análisis de escenarios: 2 o más variables
78.1% 10.81 S/ 3,084,662 62 72 82
#NUM! -14.09 1,065
#NUM! -8.64 1,265
-3.20 1,465
1.00 1,521
7.70 1,865
13.14 2,065
18.59 2,265
24.04 2,465
29.48 2,665

TIR IR
78.1% 10.81
- 0.44
1.00
13.32
20.20
27.08

S/.842,051 S/.4,674,779

-S/.4,117 -S/.2,138
-S/.24,744 -S/.26,724
S/.1,215 S/.631
S/.814,404 S/.4,646,548
92 102
Nro de Tickets promedio por tienda mensual 1,979.43
Ticket promedio S/ 78.36

Costo de ventas 71.20%

Gastos anual. Administración, logistica, Compras 685,362.00


Asignacion publicidad, eventos y redes (% de ventas) 2.80%
Gastos por tienda mensuales (vendedores, servicios) 12,492.00
Alquiler promedio mensual 12,493.00
Servicios y comisiones ligados a ventas (tarjeta, programa de venta) 1.86%

Inversiones (CAPEX y Capital de trabajo) 2021


Inversion promedio estimada por tienda (adecuación) S/ 160,000
Depreciacion 5 años
Valor de recupero (% de la inversion inicial) 35.00%
tasa impuesto a la renta 29.50%
Tasa de descuento (CCPP) 12.00%
PPC 3.41
PPI 51.36
PPP 23.45
CCE 31.32

Nro de Tickes
Ticket Promedio
0 1 2 3
Ingresos S/ 18,612,963 S/ 24,196,852 S/ 29,780,740
Costo de ventas S/ 13,252,429 S/ 17,228,158 S/ 21,203,887
Margen Bruto S/ 5,360,533 S/ 6,968,693 S/ 8,576,853
Administración S/ 685,362 S/ 685,362 S/ 685,362
Publicidad S/ 521,163 S/ 677,512 S/ 833,861
Gastos tienda S/ 1,499,040 S/ 1,948,752 S/ 2,398,464
Alquiler S/ 1,499,160 S/ 1,948,908 S/ 2,398,656
Servicios S/ 346,201 S/ 450,061 S/ 553,922
EBITDA S/ 809,607 S/ 1,258,098 S/ 1,706,589
Depreciacion S/ 267,393 S/ 363,393 S/ 459,393
EBIT S/ 542,215 S/ 894,705 S/ 1,247,196
Impuestos S/ 159,953 S/ 263,938 S/ 367,923
Depreciacion S/ 267,393 S/ 363,393 S/ 459,393
NOPAT S/ 649,654 S/ 994,160 S/ 1,338,666
Capex S/ 480,000 S/ 480,000 S/ 480,000 S/ 480,000
Inv capital de trabajo S/ 622,681 S/ 361,121 S/ 361,121 S/ 361,121
Valor de recupero
Recupero del KdeW
Flujo de caja Libre -S/ 1,102,681 -S/ 191,467 S/ 153,039 S/ 497,545

CCPP 12.00%
Valor S/ 2,595,154
TIR 44.38%
IR 3.35

Activo fijo bruto S/ 1,336,963 S/ 1,816,963 S/ 2,296,963 S/ 2,776,963

Cuentas por cobrar S/ 176,306 S/ 229,198 S/ 282,090 S/ 334,982


Inventarios S/ 1,890,680 S/ 2,457,884 S/ 3,025,088 S/ 3,592,292
Cuentas por pagar S/ 863,249 S/ 1,122,223 S/ 1,381,198 S/ 1,640,172
Capital de trabajo S/ 1,203,738 S/ 1,564,859 S/ 1,925,980 S/ 2,287,101

1) Análisis de sensibilidad: 1 variable


Valor
Mínimo Máximo S/ 2,595,154
1,065
1,065.14 2,651.86 1,265
62.00 102.30 1,465
1,672
1,865
2,065
2,265
2,465
2,665

Valor
S/ 2,595,154
62
66
82
92
102

Capacidad de pago
Ratio Cobertura = EBITDA / intereses =12.5

EBITDA S/.809,607
Cobertura 12.5 AAA
Intereses que podriamos pagar S/.64,769
Tasa del Banco 8.00%
Prestamo S/.809,607

Flujo de caja de patrimonio

+ Flujo de caja libre -S/.1,102,681 -S/.191,467 S/.153,039 S/.497,545


+ Desembolsos S/.809,607
- intereses -S/.64,769 -S/.53,728 -S/.41,805
- amortizaciones -S/.138,003 -S/.149,043 -S/.160,966
+ escudo tributario de los intereses S/.19,107 S/.15,850 S/.12,332
Flujo de caja de patrimonio -S/.293,073 -S/.375,132 -S/.33,883 S/.307,106

TIR 66.37% rentabilidad de los accionistas

Cronograma de pago con cuotas fijas


Saldo Interes Amortizacion Cuota
0 S/.809,607
1 S/.671,604 S/.64,769 S/.138,003 S/.202,771
2 S/.522,561 S/.53,728 S/.149,043 S/.202,771
3 S/.361,595 S/.41,805 S/.160,966 S/.202,771
4 S/.187,751 S/.28,928 S/.173,844 S/.202,771
5 S/.0 S/.15,020 S/.187,751 S/.202,771
4 5
S/ 35,364,629 S/ 40,948,518
S/ 25,179,616 S/ 29,155,345
S/ 10,185,013 S/ 11,793,173
S/ 685,362 S/ 685,362
S/ 990,210 S/ 1,146,559
S/ 2,848,176 S/ 3,297,888
S/ 2,848,404 S/ 3,298,152
S/ 657,782 S/ 761,642
S/ 2,155,079 S/ 2,603,570
S/ 555,393 S/ 651,393
S/ 1,599,687 S/ 1,952,178
S/ 471,908 S/ 575,892
S/ 555,393 S/ 651,393
S/ 1,683,172 S/ 2,027,678
S/ 480,000 S/ 480,000
S/ 361,121 S/ 0
S/ 840,000
S/ 2,648,223
S/ 842,051 S/ 5,035,900

S/ 3,256,963 S/ 3,736,963

S/ 387,873 S/ 0
S/ 4,159,496 S/ 0
S/ 1,899,147 S/ 0
S/ 2,648,223 S/ 0

nálisis de sensibilidad: 1 variable


TIR IR 2) Análisis de escenarios: 2 o más variables
44.4% 3.35 S/ 2,595,154 62 72 82
#NUM! -8.37 1,065
-4.14 1,265
-1.21 1,465
1.00 1,521
2.58 1,865
3.87 2,065
4.92 2,265
5.79 2,465
6.51 2,665

TIR IR
44.4% 3.35
- 0.05
1.00
3.91
5.19
6.21

S/.842,051 S/.5,035,900

-S/.28,928 -S/.15,020
-S/.173,844 -S/.187,751
S/.8,534 S/.4,431
S/.647,813 S/.4,837,560
92 102
Nro de Tickets promedio por tienda mensual 1,979.33
Desviación estándar del Nro de Tickets promedio por tienda mensual 673.70
Ticket promedio S/ 78.36
Desviación estándar del Ticket promedio S/ 13.74

Costo de ventas 71.20%

Gastos anual. Administración, logistica, Compras 685,362.00


Asignacion publicidad, eventos y redes (% de ventas) 2.80%
Gastos por tienda mensuales (vendedores, servicios) 12,492.00
Alquiler promedio mensual 12,493.00
Servicios y comisiones ligados a ventas (tarjeta, programa de venta) 1.86%

Inversiones (CAPEX y Capital de trabajo) 2021


Inversion promedio estimada por tienda (adecuación) S/ 160,000
Depreciacion 5 años
Valor de recupero (% de la inversion inicial) 35.00%
tasa impuesto a la renta 29.50%
Tasa de descuento (CCPP) 12.00%
PPC 3.41
PPI 51.36
PPP 23.45
CCE 31.32
0 1 2 3 4
Ingresos S/ 13,029,074 S/ 13,116,581 S/ 8,037,325 S/ 31,455,127 S/ 38,232,479
Costo de ventas S/ 9,276,701 S/ 9,339,006 S/ 5,722,575 S/ 22,396,051 S/ 27,221,525
Margen Bruto S/ 3,752,373 S/ 3,777,575 S/ 2,314,750 S/ 9,059,077 S/ 11,010,954
Administración S/ 685,362 S/ 685,362 S/ 685,362 S/ 685,362 S/ 685,362
Publicidad S/ 364,814 S/ 367,264 S/ 225,045 S/ 880,744 S/ 1,070,509
Gastos tienda S/ 1,049,328 S/ 1,499,040 S/ 1,948,752 S/ 2,398,464 S/ 2,848,176
Alquiler S/ 1,049,412 S/ 1,499,160 S/ 1,948,908 S/ 2,398,656 S/ 2,848,404
Servicios S/ 242,341 S/ 243,968 S/ 149,494 S/ 585,065 S/ 711,124
EBITDA S/ 361,116 -S/ 517,219 -S/ 2,642,812 S/ 2,110,786 S/ 2,847,379
Depreciacion S/ 228,614 S/ 267,393 S/ 363,393 S/ 459,393 S/ 555,393
EBIT S/ 132,502 -S/ 784,612 -S/ 3,006,204 S/ 1,651,393 S/ 2,291,986
Impuestos S/ 39,088 -S/ 231,461 -S/ 886,830 S/ 487,161 S/ 676,136
Depreciacion S/ 228,614 S/ 267,393 S/ 363,393 S/ 459,393 S/ 555,393
NOPAT S/ 322,028 -S/ 285,759 -S/ 1,755,981 S/ 1,623,625 S/ 2,171,243
Capex S/ 480,000 S/ 480,000 S/ 480,000 S/ 480,000 S/ 480,000
Inv capital de trabajo S/ 156,389 S/ 110,830 -S/ 328,486 S/ 1,514,476 S/ 438,305
Valor de recupero
Recupero del KdeW
Flujo de caja Libre -S/ 314,361 -S/ 876,588 -S/ 1,907,496 -S/ 370,851 S/ 1,252,938

CCPP 12.00%
Valor -S/ 872,299
TIR -1%
IR - 1.77

Activo fijo bruto S/ 1,336,963 S/ 1,816,963 S/ 2,296,963 S/ 2,776,963 S/ 3,256,963

Cuentas por cobrar S/ 144,767 S/ 124,243 S/ 76,131 S/ 297,950 S/ 362,147


Inventarios S/ 1,236,893 S/ 1,332,365 S/ 816,421 S/ 3,195,170 S/ 3,883,604
Cuentas por pagar S/ 644,215 S/ 608,332 S/ 372,762 S/ 1,458,854 S/ 1,773,180
Capital de trabajo S/ 737,446 S/ 848,276 S/ 519,790 S/ 2,034,266 S/ 2,472,571

Iteraciones Al 95% de Confianza


1 -S/ 872,299 S/ 6,479,772
2 -S/ 872,299 S/ 4,045,432 Media S/.3,156,844
3 -S/ 872,299 S/ 5,477,054 Error típico S/.80,261
4 -S/ 872,299 S/ 2,761,179 Mediana S/.3,238,190
5 -S/ 872,299 -S/ 1,569,165 Moda #N/A
6 -S/ 872,299 S/ 4,339,238 Desviación está S/.2,538,069
7 -S/ 872,299 S/ 2,253,079 Varianza de la ###
8 -S/ 872,299 S/ 6,685,739 Curtosis -S/.0
9 -S/ 872,299 S/ 3,500,910 Coeficiente de -S/.0
10 -S/ 872,299 -S/ 32,935 Rango S/.14,707,818
11 -S/ 872,299 S/ 4,037,486 Mínimo -S/.5,027,947
12 -S/ 872,299 -S/ 1,623,744 Máximo S/.9,679,870
13 -S/ 872,299 S/ 7,979,687 Suma ###
14 -S/ 872,299 S/ 8,220,686 Cuenta 1,000
15 -S/ 872,299 S/ 5,526,421 Nivel de confia S/.157,499
16 -S/ 872,299 S/ 4,238,229
17 -S/ 872,299 S/ 1,228,086
18 -S/ 872,299 S/ 2,396,734
19 -S/ 872,299 S/ 2,559,904 Al 68% de Confianza
20 -S/ 872,299 S/ 4,192,095
21 -S/ 872,299 S/ 4,320,407 Media S/.3,156,844
22 -S/ 872,299 S/ 3,798,484 Error típico S/.80,261
23 -S/ 872,299 S/ 1,782,305 Mediana S/.3,238,190
24 -S/ 872,299 S/ 6,068,009 Moda #N/A
25 -S/ 872,299 S/ 5,887,506 Desviación está S/.2,538,069
26 -S/ 872,299 -S/ 1,860,704 Varianza de la ###
27 -S/ 872,299 S/ 2,981,935 Curtosis -S/.0
28 -S/ 872,299 S/ 4,001,583 Coeficiente de -S/.0
29 -S/ 872,299 S/ 3,632,261 Rango S/.14,707,818
30 -S/ 872,299 S/ 4,833,398 Mínimo -S/.5,027,947
31 -S/ 872,299 S/ 1,883,310 Máximo S/.9,679,870
32 -S/ 872,299 S/ 4,686,212 Suma ###
33 -S/ 872,299 S/ 4,489,425 Cuenta 1,000
34 -S/ 872,299 S/ 2,508,769 Nivel de confia S/.79,856
35 -S/ 872,299 -S/ 353,888
36 -S/ 872,299 S/ 2,092,713
37 -S/ 872,299 S/ 2,753,720
38 -S/ 872,299 S/ 4,663,481
39 -S/ 872,299 -S/ 511,764
40 -S/ 872,299 S/ 615,925
41 -S/ 872,299 S/ 692,898
42 -S/ 872,299 S/ 2,324,468
43 -S/ 872,299 S/ 979,295
44 -S/ 872,299 S/ 2,312,726
45 -S/ 872,299 S/ 4,452,611
46 -S/ 872,299 S/ 6,678,039
47 -S/ 872,299 S/ 5,429,294
48 -S/ 872,299 S/ 1,007,697
49 -S/ 872,299 S/ 3,854,459
50 -S/ 872,299 S/ 1,198,069
51 -S/ 872,299 S/ 2,807,273
52 -S/ 872,299 S/ 1,952,966
53 -S/ 872,299 S/ 3,363,328
54 -S/ 872,299 S/ 213,676
55 -S/ 872,299 S/ 3,149,459
56 -S/ 872,299 S/ 5,231,514
57 -S/ 872,299 S/ 5,195,696
58 -S/ 872,299 S/ 4,731,013
59 -S/ 872,299 -S/ 608,556
60 -S/ 872,299 S/ 524,217
61 -S/ 872,299 S/ 561,766
62 -S/ 872,299 S/ 3,936,177
63 -S/ 872,299 -S/ 1,613,557
64 -S/ 872,299 S/ 101,360
65 -S/ 872,299 -S/ 2,850,588
66 -S/ 872,299 -S/ 3,366,426
67 -S/ 872,299 S/ 1,518,819
68 -S/ 872,299 S/ 2,503,013
69 -S/ 872,299 S/ 3,620,448
70 -S/ 872,299 S/ 3,379,196
71 -S/ 872,299 -S/ 893,023
72 -S/ 872,299 S/ 4,921,355
73 -S/ 872,299 S/ 4,129,468
74 -S/ 872,299 S/ 4,137,642
75 -S/ 872,299 S/ 4,196,094
76 -S/ 872,299 S/ 1,069,665
77 -S/ 872,299 S/ 2,743,362
78 -S/ 872,299 S/ 2,282,505
79 -S/ 872,299 S/ 6,223,814
80 -S/ 872,299 S/ 3,143,471
81 -S/ 872,299 S/ 3,592,704
82 -S/ 872,299 S/ 3,465,453
83 -S/ 872,299 S/ 681,007
84 -S/ 872,299 S/ 4,121,089
85 -S/ 872,299 -S/ 2,173,860
86 -S/ 872,299 S/ 110,398
87 -S/ 872,299 -S/ 2,531,005
88 -S/ 872,299 S/ 2,397,868
89 -S/ 872,299 S/ 4,312,033
90 -S/ 872,299 -S/ 981,945
91 -S/ 872,299 S/ 2,692,140
92 -S/ 872,299 S/ 6,088,405
93 -S/ 872,299 S/ 5,053,702
94 -S/ 872,299 S/ 1,875,269
95 -S/ 872,299 S/ 4,947,889
96 -S/ 872,299 S/ 3,340,302
97 -S/ 872,299 S/ 2,119,283
98 -S/ 872,299 -S/ 1,183,287
99 -S/ 872,299 S/ 5,348,798
100 -S/ 872,299 S/ 1,394,946
101 -S/ 872,299 S/ 4,672,103
102 -S/ 872,299 S/ 2,537,350
103 -S/ 872,299 S/ 6,753,338
104 -S/ 872,299 S/ 1,783,544
105 -S/ 872,299 S/ 1,312,637
106 -S/ 872,299 S/ 5,133,635
107 -S/ 872,299 S/ 3,532,523
108 -S/ 872,299 S/ 5,182,706
109 -S/ 872,299 S/ 1,178,571
110 -S/ 872,299 S/ 1,182,125
111 -S/ 872,299 S/ 1,228,579
112 -S/ 872,299 S/ 3,629,936
113 -S/ 872,299 S/ 4,115,564
114 -S/ 872,299 -S/ 3,780,175
115 -S/ 872,299 S/ 3,556,630
116 -S/ 872,299 S/ 4,297,915
117 -S/ 872,299 S/ 3,707,352
118 -S/ 872,299 S/ 1,740,644
119 -S/ 872,299 S/ 4,089,335
120 -S/ 872,299 S/ 2,369,846
121 -S/ 872,299 S/ 5,907,103
122 -S/ 872,299 S/ 3,235,201
123 -S/ 872,299 S/ 2,196,775
124 -S/ 872,299 S/ 5,229,359
125 -S/ 872,299 S/ 4,509,245
126 -S/ 872,299 S/ 3,176,359
127 -S/ 872,299 S/ 3,109,855
128 -S/ 872,299 S/ 1,452,412
129 -S/ 872,299 S/ 7,048,079
130 -S/ 872,299 S/ 5,151,140
131 -S/ 872,299 S/ 5,293,700
132 -S/ 872,299 S/ 3,837,160
133 -S/ 872,299 S/ 1,795,423
134 -S/ 872,299 S/ 8,655,334
135 -S/ 872,299 S/ 1,082,876
136 -S/ 872,299 S/ 4,628,037
137 -S/ 872,299 S/ 5,068,306
138 -S/ 872,299 S/ 2,192,246
139 -S/ 872,299 S/ 1,904,720
140 -S/ 872,299 S/ 3,689,195
141 -S/ 872,299 S/ 4,139,951
142 -S/ 872,299 S/ 3,241,178
143 -S/ 872,299 S/ 4,697,496
144 -S/ 872,299 S/ 1,341,363
145 -S/ 872,299 -S/ 457,618
146 -S/ 872,299 S/ 1,626,435
147 -S/ 872,299 S/ 5,588,808
148 -S/ 872,299 -S/ 176,820
149 -S/ 872,299 S/ 4,657,992
150 -S/ 872,299 S/ 4,055,738
151 -S/ 872,299 S/ 5,415,832
152 -S/ 872,299 S/ 1,337,371
153 -S/ 872,299 S/ 5,622,172
154 -S/ 872,299 -S/ 1,132,641
155 -S/ 872,299 S/ 2,125,274
156 -S/ 872,299 S/ 312,886
157 -S/ 872,299 S/ 3,434,182
158 -S/ 872,299 S/ 2,165,391
159 -S/ 872,299 S/ 1,439,794
160 -S/ 872,299 S/ 20,085
161 -S/ 872,299 S/ 3,599,748
162 -S/ 872,299 S/ 2,861,894
163 -S/ 872,299 S/ 9,355,562
164 -S/ 872,299 S/ 7,510,952
165 -S/ 872,299 S/ 6,360,760
166 -S/ 872,299 S/ 4,192,952
167 -S/ 872,299 S/ 931,909
168 -S/ 872,299 S/ 5,711,428
169 -S/ 872,299 S/ 2,049,164
170 -S/ 872,299 S/ 6,572,065
171 -S/ 872,299 S/ 760,148
172 -S/ 872,299 S/ 6,193,231
173 -S/ 872,299 -S/ 943,521
174 -S/ 872,299 S/ 2,201,795
175 -S/ 872,299 S/ 2,652,519
176 -S/ 872,299 S/ 6,532,106
177 -S/ 872,299 S/ 2,247,214
178 -S/ 872,299 S/ 4,189,222
179 -S/ 872,299 S/ 4,037,985
180 -S/ 872,299 S/ 5,493,633
181 -S/ 872,299 S/ 3,542,873
182 -S/ 872,299 S/ 4,421,686
183 -S/ 872,299 S/ 5,764,597
184 -S/ 872,299 S/ 2,971,711
185 -S/ 872,299 S/ 1,116,876
186 -S/ 872,299 S/ 4,326,159
187 -S/ 872,299 S/ 4,080,024
188 -S/ 872,299 S/ 6,087,760
189 -S/ 872,299 S/ 7,449,005
190 -S/ 872,299 S/ 4,412,557
191 -S/ 872,299 S/ 2,741,406
192 -S/ 872,299 S/ 3,188,850
193 -S/ 872,299 S/ 7,425,318
194 -S/ 872,299 S/ 8,397,247
195 -S/ 872,299 S/ 750,021
196 -S/ 872,299 S/ 2,806,989
197 -S/ 872,299 S/ 3,291,441
198 -S/ 872,299 S/ 4,030,574
199 -S/ 872,299 S/ 8,707,335
200 -S/ 872,299 S/ 377,392
201 -S/ 872,299 S/ 4,110,810
202 -S/ 872,299 S/ 2,258,949
203 -S/ 872,299 S/ 3,510,637
204 -S/ 872,299 S/ 2,971,400
205 -S/ 872,299 S/ 1,280,012
206 -S/ 872,299 -S/ 1,434,879
207 -S/ 872,299 S/ 3,590,300
208 -S/ 872,299 S/ 5,289,511
209 -S/ 872,299 S/ 3,320,919
210 -S/ 872,299 S/ 3,265,801
211 -S/ 872,299 S/ 6,101,239
212 -S/ 872,299 -S/ 1,100,165
213 -S/ 872,299 S/ 1,478,887
214 -S/ 872,299 S/ 2,989,753
215 -S/ 872,299 S/ 5,460,155
216 -S/ 872,299 S/ 3,319,077
217 -S/ 872,299 -S/ 360,295
218 -S/ 872,299 -S/ 73,006
219 -S/ 872,299 S/ 2,918,765
220 -S/ 872,299 S/ 3,716,770
221 -S/ 872,299 S/ 1,011,230
222 -S/ 872,299 S/ 2,438,192
223 -S/ 872,299 S/ 6,624,434
224 -S/ 872,299 S/ 4,508,385
225 -S/ 872,299 S/ 2,386,194
226 -S/ 872,299 S/ 158,451
227 -S/ 872,299 S/ 5,282,807
228 -S/ 872,299 S/ 900,486
229 -S/ 872,299 S/ 7,619,309
230 -S/ 872,299 S/ 1,495,362
231 -S/ 872,299 S/ 932,970
232 -S/ 872,299 -S/ 3,747,574
233 -S/ 872,299 S/ 1,483,353
234 -S/ 872,299 S/ 4,117,879
235 -S/ 872,299 S/ 2,674,687
236 -S/ 872,299 S/ 5,067,546
237 -S/ 872,299 S/ 3,074,850
238 -S/ 872,299 S/ 5,463,900
239 -S/ 872,299 S/ 3,203,101
240 -S/ 872,299 -S/ 372,777
241 -S/ 872,299 S/ 5,234,808
242 -S/ 872,299 S/ 1,894,025
243 -S/ 872,299 S/ 3,179,093
244 -S/ 872,299 S/ 1,172,545
245 -S/ 872,299 S/ 5,421,211
246 -S/ 872,299 S/ 3,299,259
247 -S/ 872,299 S/ 4,331,794
248 -S/ 872,299 S/ 1,591,369
249 -S/ 872,299 S/ 5,101,879
250 -S/ 872,299 S/ 4,992,580
251 -S/ 872,299 S/ 3,721,812
252 -S/ 872,299 S/ 814,595
253 -S/ 872,299 S/ 540,857
254 -S/ 872,299 S/ 2,509,988
255 -S/ 872,299 S/ 2,907,054
256 -S/ 872,299 S/ 5,684,863
257 -S/ 872,299 S/ 7,164,904
258 -S/ 872,299 S/ 4,040,368
259 -S/ 872,299 S/ 2,159,312
260 -S/ 872,299 S/ 4,215,336
261 -S/ 872,299 S/ 4,025,019
262 -S/ 872,299 S/ 8,534,585
263 -S/ 872,299 S/ 3,629,201
264 -S/ 872,299 -S/ 2,598,509
265 -S/ 872,299 -S/ 510,977
266 -S/ 872,299 S/ 2,058,760
267 -S/ 872,299 S/ 7,464,072
268 -S/ 872,299 S/ 3,117,498
269 -S/ 872,299 S/ 1,026,347
270 -S/ 872,299 S/ 3,173,273
271 -S/ 872,299 S/ 3,488,031
272 -S/ 872,299 S/ 572,478
273 -S/ 872,299 S/ 3,891,371
274 -S/ 872,299 S/ 454,486
275 -S/ 872,299 S/ 6,717,367
276 -S/ 872,299 S/ 7,953,799
277 -S/ 872,299 S/ 5,261,231
278 -S/ 872,299 S/ 2,562,973
279 -S/ 872,299 S/ 695,817
280 -S/ 872,299 S/ 3,850,391
281 -S/ 872,299 S/ 2,268,469
282 -S/ 872,299 S/ 386,857
283 -S/ 872,299 S/ 5,509,694
284 -S/ 872,299 S/ 5,904,959
285 -S/ 872,299 S/ 846,338
286 -S/ 872,299 S/ 2,288,598
287 -S/ 872,299 -S/ 112,347
288 -S/ 872,299 -S/ 775,863
289 -S/ 872,299 S/ 6,018,459
290 -S/ 872,299 S/ 6,413,898
291 -S/ 872,299 S/ 497,491
292 -S/ 872,299 S/ 892,431
293 -S/ 872,299 S/ 2,278,793
294 -S/ 872,299 S/ 710,412
295 -S/ 872,299 S/ 2,113,577
296 -S/ 872,299 S/ 3,659,461
297 -S/ 872,299 S/ 4,657,069
298 -S/ 872,299 S/ 954,907
299 -S/ 872,299 S/ 3,330,683
300 -S/ 872,299 S/ 3,161,123
301 -S/ 872,299 S/ 2,027,323
302 -S/ 872,299 S/ 4,528,406
303 -S/ 872,299 S/ 6,334,831
304 -S/ 872,299 S/ 316,125
305 -S/ 872,299 S/ 4,128,152
306 -S/ 872,299 S/ 666,599
307 -S/ 872,299 S/ 5,232,490
308 -S/ 872,299 S/ 226,235
309 -S/ 872,299 S/ 5,404,147
310 -S/ 872,299 -S/ 401,669
311 -S/ 872,299 S/ 1,366,728
312 -S/ 872,299 S/ 7,420,654
313 -S/ 872,299 S/ 193,244
314 -S/ 872,299 -S/ 209,053
315 -S/ 872,299 S/ 5,847,962
316 -S/ 872,299 S/ 5,844,358
317 -S/ 872,299 S/ 2,876,225
318 -S/ 872,299 S/ 2,812,379
319 -S/ 872,299 S/ 5,969,423
320 -S/ 872,299 S/ 1,098,456
321 -S/ 872,299 S/ 5,100,416
322 -S/ 872,299 S/ 3,672,052
323 -S/ 872,299 S/ 4,646,681
324 -S/ 872,299 S/ 568,406
325 -S/ 872,299 S/ 3,462,127
326 -S/ 872,299 S/ 3,159,162
327 -S/ 872,299 S/ 7,899,395
328 -S/ 872,299 S/ 3,229,225
329 -S/ 872,299 S/ 564,020
330 -S/ 872,299 -S/ 468,982
331 -S/ 872,299 S/ 4,182,277
332 -S/ 872,299 S/ 5,811,724
333 -S/ 872,299 S/ 1,092,216
334 -S/ 872,299 S/ 783,432
335 -S/ 872,299 S/ 2,795,443
336 -S/ 872,299 S/ 5,055,990
337 -S/ 872,299 S/ 3,514,428
338 -S/ 872,299 -S/ 1,979,793
339 -S/ 872,299 S/ 6,942,762
340 -S/ 872,299 -S/ 1,850,422
341 -S/ 872,299 S/ 5,700,753
342 -S/ 872,299 S/ 4,023,138
343 -S/ 872,299 S/ 1,310,070
344 -S/ 872,299 S/ 4,927,767
345 -S/ 872,299 S/ 6,299,482
346 -S/ 872,299 S/ 6,179,500
347 -S/ 872,299 S/ 5,095,258
348 -S/ 872,299 S/ 2,859,423
349 -S/ 872,299 -S/ 1,676,484
350 -S/ 872,299 S/ 7,893,453
351 -S/ 872,299 S/ 7,729,403
352 -S/ 872,299 -S/ 505,598
353 -S/ 872,299 S/ 1,958,543
354 -S/ 872,299 S/ 5,421,821
355 -S/ 872,299 S/ 703,214
356 -S/ 872,299 -S/ 10,066
357 -S/ 872,299 S/ 3,992,914
358 -S/ 872,299 S/ 4,874,470
359 -S/ 872,299 S/ 5,376,356
360 -S/ 872,299 S/ 6,540,391
361 -S/ 872,299 S/ 1,791,676
362 -S/ 872,299 S/ 504,084
363 -S/ 872,299 S/ 7,109,337
364 -S/ 872,299 S/ 2,183,938
365 -S/ 872,299 -S/ 92,011
366 -S/ 872,299 S/ 1,475,689
367 -S/ 872,299 -S/ 781,955
368 -S/ 872,299 S/ 4,412,840
369 -S/ 872,299 S/ 3,818,752
370 -S/ 872,299 S/ 4,832,099
371 -S/ 872,299 S/ 99,087
372 -S/ 872,299 S/ 4,332,179
373 -S/ 872,299 S/ 2,161,653
374 -S/ 872,299 S/ 4,977,914
375 -S/ 872,299 S/ 3,019,557
376 -S/ 872,299 S/ 3,045,691
377 -S/ 872,299 S/ 4,170,792
378 -S/ 872,299 -S/ 607,535
379 -S/ 872,299 S/ 2,463,668
380 -S/ 872,299 -S/ 805,745
381 -S/ 872,299 S/ 1,608,446
382 -S/ 872,299 S/ 2,024,515
383 -S/ 872,299 S/ 3,108,395
384 -S/ 872,299 -S/ 2,608,022
385 -S/ 872,299 S/ 1,101,614
386 -S/ 872,299 S/ 3,425,553
387 -S/ 872,299 S/ 1,361,652
388 -S/ 872,299 S/ 2,382,436
389 -S/ 872,299 S/ 5,733,566
390 -S/ 872,299 S/ 7,854,250
391 -S/ 872,299 S/ 215,847
392 -S/ 872,299 S/ 750,712
393 -S/ 872,299 S/ 6,399,632
394 -S/ 872,299 S/ 2,344,849
395 -S/ 872,299 S/ 4,536,655
396 -S/ 872,299 S/ 1,683,208
397 -S/ 872,299 S/ 7,188,698
398 -S/ 872,299 S/ 6,266,798
399 -S/ 872,299 S/ 4,911,436
400 -S/ 872,299 S/ 4,434,055
401 -S/ 872,299 S/ 5,394,037
402 -S/ 872,299 S/ 7,809,695
403 -S/ 872,299 -S/ 1,824,025
404 -S/ 872,299 S/ 5,714,265
405 -S/ 872,299 S/ 3,438,211
406 -S/ 872,299 S/ 3,414,586
407 -S/ 872,299 S/ 456,146
408 -S/ 872,299 S/ 9,257,935
409 -S/ 872,299 S/ 5,063,218
410 -S/ 872,299 -S/ 1,896,327
411 -S/ 872,299 -S/ 2,911,052
412 -S/ 872,299 S/ 4,125,594
413 -S/ 872,299 S/ 1,941,162
414 -S/ 872,299 -S/ 1,038,106
415 -S/ 872,299 S/ 7,481,528
416 -S/ 872,299 S/ 1,235,548
417 -S/ 872,299 S/ 5,576,947
418 -S/ 872,299 S/ 2,095,782
419 -S/ 872,299 S/ 7,328,745
420 -S/ 872,299 -S/ 2,023,179
421 -S/ 872,299 S/ 3,305,297
422 -S/ 872,299 S/ 3,058,277
423 -S/ 872,299 S/ 3,758,504
424 -S/ 872,299 -S/ 691,656
425 -S/ 872,299 S/ 3,869,353
426 -S/ 872,299 S/ 1,688,985
427 -S/ 872,299 S/ 3,923,325
428 -S/ 872,299 S/ 1,835,564
429 -S/ 872,299 S/ 1,071,595
430 -S/ 872,299 S/ 83,527
431 -S/ 872,299 -S/ 486,522
432 -S/ 872,299 S/ 3,374,965
433 -S/ 872,299 S/ 5,249,638
434 -S/ 872,299 S/ 6,589,150
435 -S/ 872,299 -S/ 2,347,929
436 -S/ 872,299 S/ 3,514,001
437 -S/ 872,299 S/ 5,395,022
438 -S/ 872,299 S/ 2,712,869
439 -S/ 872,299 S/ 3,186,214
440 -S/ 872,299 S/ 6,633,059
441 -S/ 872,299 S/ 3,388,588
442 -S/ 872,299 S/ 7,423,875
443 -S/ 872,299 S/ 3,120,192
444 -S/ 872,299 S/ 5,386,048
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446 -S/ 872,299 S/ 2,492,069
447 -S/ 872,299 S/ 1,990,963
448 -S/ 872,299 S/ 2,743,460
449 -S/ 872,299 S/ 1,587,286
450 -S/ 872,299 S/ 8,816,653
451 -S/ 872,299 S/ 4,150,341
452 -S/ 872,299 S/ 6,842,545
453 -S/ 872,299 S/ 4,741,800
454 -S/ 872,299 S/ 4,117,201
455 -S/ 872,299 S/ 3,014,978
456 -S/ 872,299 S/ 7,021,460
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458 -S/ 872,299 S/ 367,581
459 -S/ 872,299 S/ 2,342,921
460 -S/ 872,299 S/ 2,847,118
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466 -S/ 872,299 S/ 4,528,298
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468 -S/ 872,299 S/ 3,225,421
469 -S/ 872,299 S/ 3,093,827
470 -S/ 872,299 S/ 5,165,140
471 -S/ 872,299 S/ 2,000,759
472 -S/ 872,299 S/ 3,540,439
473 -S/ 872,299 S/ 1,030,755
474 -S/ 872,299 S/ 1,778,984
475 -S/ 872,299 S/ 3,542,138
476 -S/ 872,299 S/ 1,186,800
477 -S/ 872,299 S/ 3,353,354
478 -S/ 872,299 S/ 3,425,298
479 -S/ 872,299 S/ 2,834,011
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481 -S/ 872,299 S/ 938,158
482 -S/ 872,299 S/ 1,756,285
483 -S/ 872,299 S/ 2,739,480
484 -S/ 872,299 S/ 7,645,590
485 -S/ 872,299 S/ 2,391,722
486 -S/ 872,299 S/ 2,880,463
487 -S/ 872,299 S/ 3,411,323
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489 -S/ 872,299 S/ 6,298,932
490 -S/ 872,299 S/ 4,829,237
491 -S/ 872,299 S/ 6,335,732
492 -S/ 872,299 -S/ 4,726,176
493 -S/ 872,299 S/ 4,996,904
494 -S/ 872,299 S/ 5,122,061
495 -S/ 872,299 S/ 4,681,287
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497 -S/ 872,299 S/ 6,174,550
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499 -S/ 872,299 S/ 2,537,528
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501 -S/ 872,299 S/ 2,776,959
502 -S/ 872,299 S/ 2,434,635
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506 -S/ 872,299 S/ 2,994,569
507 -S/ 872,299 -S/ 949,914
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509 -S/ 872,299 S/ 892,834
510 -S/ 872,299 S/ 4,921,612
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513 -S/ 872,299 S/ 7,230,173
514 -S/ 872,299 S/ 1,998,758
515 -S/ 872,299 S/ 6,011,726
516 -S/ 872,299 -S/ 3,333,236
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518 -S/ 872,299 S/ 6,988,044
519 -S/ 872,299 S/ 2,097,493
520 -S/ 872,299 S/ 1,441,405
521 -S/ 872,299 S/ 4,058,275
522 -S/ 872,299 S/ 1,374,155
523 -S/ 872,299 S/ 8,314,539
524 -S/ 872,299 -S/ 1,547,789
525 -S/ 872,299 S/ 4,027,213
526 -S/ 872,299 S/ 6,134,071
527 -S/ 872,299 S/ 5,040,806
528 -S/ 872,299 S/ 4,436,949
529 -S/ 872,299 S/ 2,386,213
530 -S/ 872,299 S/ 2,893,036
531 -S/ 872,299 -S/ 412,899
532 -S/ 872,299 S/ 3,925,759
533 -S/ 872,299 S/ 8,184,258
534 -S/ 872,299 S/ 2,305,065
535 -S/ 872,299 S/ 1,231,853
536 -S/ 872,299 S/ 4,259,481
537 -S/ 872,299 S/ 5,640,144
538 -S/ 872,299 S/ 4,198,885
539 -S/ 872,299 S/ 6,356,240
540 -S/ 872,299 S/ 4,277,885
541 -S/ 872,299 -S/ 389,888
542 -S/ 872,299 S/ 7,065,001
543 -S/ 872,299 S/ 3,264,842
544 -S/ 872,299 S/ 1,699,113
545 -S/ 872,299 S/ 1,558,976
546 -S/ 872,299 -S/ 1,032,215
547 -S/ 872,299 -S/ 1,700,833
548 -S/ 872,299 S/ 353,177
549 -S/ 872,299 S/ 2,815,247
550 -S/ 872,299 S/ 3,780,710
551 -S/ 872,299 S/ 3,666,801
552 -S/ 872,299 S/ 3,360,379
553 -S/ 872,299 S/ 2,584,753
554 -S/ 872,299 S/ 980,503
555 -S/ 872,299 S/ 3,691,642
556 -S/ 872,299 S/ 2,343,379
557 -S/ 872,299 S/ 6,085,682
558 -S/ 872,299 S/ 1,884,784
559 -S/ 872,299 S/ 3,545,394
560 -S/ 872,299 -S/ 935,042
561 -S/ 872,299 -S/ 281,396
562 -S/ 872,299 S/ 3,693,876
563 -S/ 872,299 S/ 1,478,170
564 -S/ 872,299 S/ 7,490,822
565 -S/ 872,299 S/ 3,633,471
566 -S/ 872,299 S/ 2,224,017
567 -S/ 872,299 -S/ 1,162,653
568 -S/ 872,299 S/ 554,088
569 -S/ 872,299 S/ 4,167,442
570 -S/ 872,299 S/ 3,842,419
571 -S/ 872,299 S/ 1,408,537
572 -S/ 872,299 S/ 5,298,883
573 -S/ 872,299 -S/ 139,755
574 -S/ 872,299 -S/ 2,770,641
575 -S/ 872,299 S/ 4,957,307
576 -S/ 872,299 -S/ 906,679
577 -S/ 872,299 S/ 5,790,429
578 -S/ 872,299 S/ 4,637,927
579 -S/ 872,299 S/ 3,637,626
580 -S/ 872,299 S/ 2,427,597
581 -S/ 872,299 S/ 4,687,370
582 -S/ 872,299 S/ 1,087,830
583 -S/ 872,299 S/ 5,649,001
584 -S/ 872,299 S/ 4,935,574
585 -S/ 872,299 S/ 1,875,917
586 -S/ 872,299 S/ 7,303,980
587 -S/ 872,299 S/ 9,658,053
588 -S/ 872,299 S/ 6,828,864
589 -S/ 872,299 S/ 4,787,658
590 -S/ 872,299 S/ 7,060,455
591 -S/ 872,299 S/ 2,348,006
592 -S/ 872,299 S/ 2,755,678
593 -S/ 872,299 S/ 4,587,453
594 -S/ 872,299 S/ 4,604,538
595 -S/ 872,299 S/ 5,881,400
596 -S/ 872,299 S/ 4,245,808
597 -S/ 872,299 S/ 1,982,051
598 -S/ 872,299 S/ 3,575,393
599 -S/ 872,299 S/ 1,706,352
600 -S/ 872,299 S/ 2,019,645
601 -S/ 872,299 S/ 2,814,207
602 -S/ 872,299 S/ 3,251,967
603 -S/ 872,299 S/ 4,838,136
604 -S/ 872,299 -S/ 17,001
605 -S/ 872,299 S/ 2,956,234
606 -S/ 872,299 S/ 6,426,779
607 -S/ 872,299 S/ 6,448,228
608 -S/ 872,299 S/ 5,903,574
609 -S/ 872,299 S/ 8,746,705
610 -S/ 872,299 S/ 1,808,495
611 -S/ 872,299 S/ 44,400
612 -S/ 872,299 S/ 8,734,596
613 -S/ 872,299 S/ 4,993,279
614 -S/ 872,299 -S/ 979,932
615 -S/ 872,299 S/ 4,063,024
616 -S/ 872,299 S/ 1,816,113
617 -S/ 872,299 S/ 1,046,940
618 -S/ 872,299 S/ 3,658,409
619 -S/ 872,299 S/ 2,464,701
620 -S/ 872,299 S/ 1,942,582
621 -S/ 872,299 S/ 3,155,374
622 -S/ 872,299 S/ 2,671,362
623 -S/ 872,299 S/ 4,214,786
624 -S/ 872,299 S/ 2,713,765
625 -S/ 872,299 S/ 3,624,779
626 -S/ 872,299 S/ 1,702,744
627 -S/ 872,299 -S/ 1,942,223
628 -S/ 872,299 S/ 2,012,902
629 -S/ 872,299 S/ 5,805,385
630 -S/ 872,299 S/ 2,937,450
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632 -S/ 872,299 S/ 2,497,753
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634 -S/ 872,299 S/ 865,113
635 -S/ 872,299 S/ 3,692,117
636 -S/ 872,299 S/ 1,819,523
637 -S/ 872,299 S/ 5,407,889
638 -S/ 872,299 S/ 5,514,273
639 -S/ 872,299 S/ 668,989
640 -S/ 872,299 S/ 2,325,124
641 -S/ 872,299 -S/ 1,257,673
642 -S/ 872,299 -S/ 2,663,531
643 -S/ 872,299 S/ 9,373,938
644 -S/ 872,299 S/ 5,097,128
645 -S/ 872,299 S/ 3,182,578
646 -S/ 872,299 S/ 7,524,023
647 -S/ 872,299 S/ 9,166,896
648 -S/ 872,299 S/ 8,757,806
649 -S/ 872,299 S/ 1,600,754
650 -S/ 872,299 S/ 4,159,313
651 -S/ 872,299 S/ 2,915,656
652 -S/ 872,299 S/ 4,107,704
653 -S/ 872,299 S/ 2,700,525
654 -S/ 872,299 S/ 3,288,048
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656 -S/ 872,299 S/ 2,487,697
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658 -S/ 872,299 -S/ 1,535,249
659 -S/ 872,299 S/ 3,902,163
660 -S/ 872,299 S/ 3,730,637
661 -S/ 872,299 -S/ 211,773
662 -S/ 872,299 S/ 2,898,360
663 -S/ 872,299 S/ 2,625,745
664 -S/ 872,299 S/ 3,091,806
665 -S/ 872,299 S/ 3,296,226
666 -S/ 872,299 S/ 3,018,942
667 -S/ 872,299 S/ 4,977,392
668 -S/ 872,299 S/ 3,572,958
669 -S/ 872,299 S/ 3,740,253
670 -S/ 872,299 S/ 2,768,217
671 -S/ 872,299 S/ 3,400,541
672 -S/ 872,299 S/ 4,036,313
673 -S/ 872,299 S/ 8,040,590
674 -S/ 872,299 S/ 3,886,687
675 -S/ 872,299 S/ 1,487,864
676 -S/ 872,299 S/ 1,692,034
677 -S/ 872,299 S/ 8,782,798
678 -S/ 872,299 S/ 6,044,029
679 -S/ 872,299 S/ 3,501,823
680 -S/ 872,299 S/ 1,689,438
681 -S/ 872,299 S/ 7,018,178
682 -S/ 872,299 S/ 3,341,016
683 -S/ 872,299 S/ 3,766,945
684 -S/ 872,299 S/ 6,233,695
685 -S/ 872,299 S/ 1,402,768
686 -S/ 872,299 S/ 2,604,456
687 -S/ 872,299 S/ 2,108,396
688 -S/ 872,299 S/ 6,381,876
689 -S/ 872,299 S/ 2,759,919
690 -S/ 872,299 S/ 2,091,967
691 -S/ 872,299 S/ 3,912,602
692 -S/ 872,299 S/ 7,819,212
693 -S/ 872,299 S/ 5,649,302
694 -S/ 872,299 S/ 6,894,613
695 -S/ 872,299 S/ 6,098,342
696 -S/ 872,299 S/ 947,739
697 -S/ 872,299 -S/ 767,386
698 -S/ 872,299 S/ 2,459,474
699 -S/ 872,299 S/ 1,367,517
700 -S/ 872,299 S/ 5,982,467
701 -S/ 872,299 S/ 3,718,769
702 -S/ 872,299 -S/ 1,706,149
703 -S/ 872,299 S/ 5,290,708
704 -S/ 872,299 S/ 5,864,888
705 -S/ 872,299 S/ 1,016,438
706 -S/ 872,299 S/ 6,957,470
707 -S/ 872,299 S/ 1,844,375
708 -S/ 872,299 S/ 2,396,906
709 -S/ 872,299 S/ 1,823,464
710 -S/ 872,299 -S/ 241,753
711 -S/ 872,299 -S/ 83,178
712 -S/ 872,299 S/ 7,969,862
713 -S/ 872,299 -S/ 4,250,898
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715 -S/ 872,299 S/ 6,972,767
716 -S/ 872,299 S/ 2,288,093
717 -S/ 872,299 S/ 1,656,447
718 -S/ 872,299 S/ 5,361,096
719 -S/ 872,299 S/ 9,267,581
720 -S/ 872,299 S/ 5,481,095
721 -S/ 872,299 S/ 1,060,918
722 -S/ 872,299 S/ 5,400,059
723 -S/ 872,299 S/ 4,001,523
724 -S/ 872,299 S/ 393,470
725 -S/ 872,299 S/ 10,533
726 -S/ 872,299 -S/ 1,035,562
727 -S/ 872,299 S/ 5,832,710
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729 -S/ 872,299 S/ 3,775,289
730 -S/ 872,299 S/ 7,211,924
731 -S/ 872,299 S/ 5,275,157
732 -S/ 872,299 S/ 1,241,716
733 -S/ 872,299 S/ 6,223,686
734 -S/ 872,299 -S/ 1,700,063
735 -S/ 872,299 S/ 7,444,204
736 -S/ 872,299 S/ 1,938,142
737 -S/ 872,299 S/ 1,993,853
738 -S/ 872,299 S/ 6,950,031
739 -S/ 872,299 S/ 3,566,747
740 -S/ 872,299 -S/ 910,365
741 -S/ 872,299 S/ 3,397,396
742 -S/ 872,299 S/ 2,522,655
743 -S/ 872,299 S/ 5,988,434
744 -S/ 872,299 S/ 3,007,265
745 -S/ 872,299 S/ 1,563,495
746 -S/ 872,299 S/ 2,356,618
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748 -S/ 872,299 -S/ 1,346,436
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750 -S/ 872,299 -S/ 494,992
751 -S/ 872,299 -S/ 1,190,806
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753 -S/ 872,299 S/ 661,892
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755 -S/ 872,299 S/ 4,770,845
756 -S/ 872,299 -S/ 285,047
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762 -S/ 872,299 S/ 4,324,669
763 -S/ 872,299 S/ 181,484
764 -S/ 872,299 S/ 2,947,418
765 -S/ 872,299 S/ 4,733,568
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767 -S/ 872,299 S/ 4,638,970
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769 -S/ 872,299 S/ 3,732,761
770 -S/ 872,299 -S/ 4,565
771 -S/ 872,299 -S/ 1,221,662
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790 -S/ 872,299 S/ 3,678,642
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833 -S/ 872,299 S/ 5,513,808
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854 -S/ 872,299 S/ 2,721,081
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862 -S/ 872,299 S/ 3,759,331
863 -S/ 872,299 S/ 2,758,885
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866 -S/ 872,299 S/ 3,322,638
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869 -S/ 872,299 S/ 4,079,873
870 -S/ 872,299 S/ 3,409,093
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880 -S/ 872,299 S/ 3,617,724
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892 -S/ 872,299 S/ 2,703,777
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894 -S/ 872,299 S/ 7,116,734
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898 -S/ 872,299 S/ 7,763,094
899 -S/ 872,299 S/ 7,430,507
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901 -S/ 872,299 -S/ 906,087
902 -S/ 872,299 -S/ 276,069
903 -S/ 872,299 -S/ 3,100,876
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908 -S/ 872,299 S/ 5,642,670
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910 -S/ 872,299 S/ 5,527,862
911 -S/ 872,299 S/ 4,456,353
912 -S/ 872,299 -S/ 2,673,859
913 -S/ 872,299 S/ 658,888
914 -S/ 872,299 S/ 3,196,282
915 -S/ 872,299 S/ 2,559,376
916 -S/ 872,299 S/ 5,611,944
917 -S/ 872,299 S/ 2,054,532
918 -S/ 872,299 S/ 5,381,639
919 -S/ 872,299 S/ 3,309,970
920 -S/ 872,299 S/ 2,556,213
921 -S/ 872,299 S/ 4,580,359
922 -S/ 872,299 S/ 3,864,955
923 -S/ 872,299 -S/ 123,315
924 -S/ 872,299 S/ 237,951
925 -S/ 872,299 S/ 2,121,046
926 -S/ 872,299 S/ 2,821,322
927 -S/ 872,299 S/ 2,648,386
928 -S/ 872,299 S/ 3,964,366
929 -S/ 872,299 S/ 1,523,670
930 -S/ 872,299 S/ 4,166,898
931 -S/ 872,299 S/ 6,230,204
932 -S/ 872,299 S/ 3,666,983
933 -S/ 872,299 S/ 5,309,860
934 -S/ 872,299 S/ 2,422,479
935 -S/ 872,299 S/ 2,212,012
936 -S/ 872,299 S/ 531,343
937 -S/ 872,299 S/ 2,438,583
938 -S/ 872,299 S/ 8,281,282
939 -S/ 872,299 S/ 2,667,529
940 -S/ 872,299 S/ 4,579,666
941 -S/ 872,299 S/ 8,175,579
942 -S/ 872,299 S/ 9,660,824
943 -S/ 872,299 S/ 441,444
944 -S/ 872,299 S/ 5,173,684
945 -S/ 872,299 S/ 3,560,855
946 -S/ 872,299 S/ 1,140,067
947 -S/ 872,299 S/ 5,625,071
948 -S/ 872,299 S/ 1,720,285
949 -S/ 872,299 S/ 939,392
950 -S/ 872,299 S/ 5,415,327
951 -S/ 872,299 -S/ 253,633
952 -S/ 872,299 S/ 5,338,318
953 -S/ 872,299 S/ 3,458,959
954 -S/ 872,299 -S/ 859,824
955 -S/ 872,299 S/ 3,575,613
956 -S/ 872,299 S/ 8,631,978
957 -S/ 872,299 S/ 5,167,543
958 -S/ 872,299 S/ 4,128,282
959 -S/ 872,299 S/ 1,318,638
960 -S/ 872,299 S/ 3,764,040
961 -S/ 872,299 S/ 2,442,457
962 -S/ 872,299 S/ 6,288,676
963 -S/ 872,299 S/ 2,678,566
964 -S/ 872,299 S/ 6,141,838
965 -S/ 872,299 S/ 1,123,596
966 -S/ 872,299 S/ 1,080,817
967 -S/ 872,299 S/ 4,112,156
968 -S/ 872,299 S/ 4,156,069
969 -S/ 872,299 S/ 4,037,004
970 -S/ 872,299 S/ 2,590,650
971 -S/ 872,299 S/ 3,814,997
972 -S/ 872,299 S/ 5,972,862
973 -S/ 872,299 -S/ 1,103,028
974 -S/ 872,299 S/ 1,236,545
975 -S/ 872,299 S/ 5,529,758
976 -S/ 872,299 S/ 3,202,142
977 -S/ 872,299 S/ 3,837,991
978 -S/ 872,299 S/ 916,535
979 -S/ 872,299 S/ 35,624
980 -S/ 872,299 S/ 1,023,479
981 -S/ 872,299 S/ 4,988,277
982 -S/ 872,299 S/ 4,047,855
983 -S/ 872,299 -S/ 2,510,123
984 -S/ 872,299 S/ 3,052,536
985 -S/ 872,299 S/ 3,961,104
986 -S/ 872,299 S/ 1,213,996
987 -S/ 872,299 S/ 4,243,912
988 -S/ 872,299 S/ 212,120
989 -S/ 872,299 S/ 2,174,440
990 -S/ 872,299 S/ 790,773
991 -S/ 872,299 S/ 3,781,363
992 -S/ 872,299 S/ 6,112,171
993 -S/ 872,299 S/ 1,961,532
994 -S/ 872,299 S/ 3,570,483
995 -S/ 872,299 S/ 5,115,987
996 -S/ 872,299 -S/ 508,245
997 -S/ 872,299 S/ 5,828,017
998 -S/ 872,299 S/ 3,893,019
999 -S/ 872,299 S/ 2,965,744
1000 -S/ 872,299 S/ 3,100,887
5
S/ 24,952,015
S/ 17,765,835
S/ 7,186,180
S/ 685,362
S/ 698,656
S/ 3,297,888
S/ 3,298,152
S/ 464,107
-S/ 1,257,986
S/ 651,393
-S/ 1,909,378
-S/ 563,267
S/ 651,393
-S/ 694,719
S/ 480,000
-S/ 858,874
S/ 840,000
S/ 1,613,697
S/ 2,137,852

S/ 3,736,963

S/ 236,351
S/ 2,534,592
S/ 1,157,247
S/ 1,613,697

¿probabilidad <=0?

Resultado Zeta Probabilidad


S/.0 - 1.244 10.7% Probabilidad de que el resultado sea menor de 00

Estandarizando el número
Zeta = (resultado - media) / desviación estándar

¿probabilidad >=1MM?

Resultado Zeta Probabilidad


S/.1,000,000 - 0.850 19.8% Probabilidad de que el resultado sea menor de 1MM
80.2% Probabilidad de que el resultado sea mayor de 1MM
¿probabilidad <=0?

Resultado Zeta Probabilidad


S/.0 - 1.244 10.7% Probabilidad de que el resultado sea menor de 00

Estandarizando el número
Zeta = (resultado - media) / desviación estándar

¿probabilidad >=1MM?

Resultado Zeta Probabilidad


S/.1,000,000 - 0.850 19.8% Probabilidad de que el resultado sea menor de 1MM
80.2% Probabilidad de que el resultado sea mayor de 1MM
menor de 00

menor de 1MM
mayor de 1MM
menor de 00

menor de 1MM
mayor de 1MM
Nro de Tickets promedio por tienda mensual 1,979.33
Desviación estándar del Nro de Tickets promedio por tienda mensual 673.70
Ticket promedio S/ 78.36
Desviación estándar del Ticket promedio S/ 13.74

Costo de ventas 71.20%

Gastos anual. Administración, logistica, Compras 685,362.00


Asignacion publicidad, eventos y redes (% de ventas) 2.80%
Gastos por tienda mensuales (vendedores, servicios) 12,492.00
Alquiler promedio mensual 12,493.00
Servicios y comisiones ligados a ventas (tarjeta, programa de venta) 1.86%

Inversiones (CAPEX y Capital de trabajo) 2021


Inversion promedio estimada por tienda (adecuación) S/ 160,000
Depreciacion 5 años
Valor de recupero (% de la inversion inicial) 35.00%
tasa impuesto a la renta 29.50%
Tasa de descuento (CCPP) 12.00%
PPC 3.41
PPI 51.36
PPP 23.45
CCE 31.32
0 1 2 3
Ingresos S/ 17,062,207 S/ 9,307,127 S/ 47,304,832
Costo de ventas S/ 12,148,291 S/ 6,626,674 S/ 33,681,041
Margen Bruto S/ 4,913,916 S/ 2,680,453 S/ 13,623,792
Administración S/ 685,362 S/ 685,362 S/ 685,362
Publicidad S/ 477,742 S/ 260,600 S/ 1,324,535
Gastos tienda S/ 1,499,040 S/ 1,948,752 S/ 2,398,464
Alquiler S/ 1,499,160 S/ 1,948,908 S/ 2,398,656
Servicios S/ 317,357 S/ 173,113 S/ 879,870
EBITDA S/ 435,255 -S/ 2,336,282 S/ 5,936,905
Depreciacion S/ 267,393 S/ 363,393 S/ 459,393
EBIT S/ 167,862 -S/ 2,699,674 S/ 5,477,512
Impuestos S/ 49,519 -S/ 796,404 S/ 1,615,866
Depreciacion S/ 267,393 S/ 363,393 S/ 459,393
NOPAT S/ 385,735 -S/ 1,539,878 S/ 4,321,039
Capex S/ 480,000 S/ 480,000 S/ 480,000 S/ 480,000
Inv capital de trabajo S/ 522,390 -S/ 501,537 S/ 2,457,388 -S/ 992,661
Valor de recupero
Recupero del KdeW
Flujo de caja Libre -S/ 1,002,390 S/ 407,272 -S/ 4,477,265 S/ 4,833,699

CCPP 12.00%
Valor S/ 2,164,446
TIR 34.25%
IR 3.16

Activo fijo bruto S/ 1,336,963 S/ 1,816,963 S/ 2,296,963 S/ 2,776,963

Cuentas por cobrar S/ 161,617 S/ 88,159 S/ 448,082 S/ 302,691


Inventarios S/ 1,733,156 S/ 945,406 S/ 4,805,162 S/ 3,246,015
Cuentas por pagar S/ 791,326 S/ 431,654 S/ 2,193,946 S/ 1,482,069
Capital de trabajo S/ 1,103,447 S/ 601,911 S/ 3,059,298 S/ 2,066,637

Iteraciones Al 95% de Confianza


1 S/ 2,164,446 S/ 3,211,664
2 S/ 2,164,446 S/ 2,706,436 Media
3 S/ 2,164,446 S/ 158,039 Error típico
4 S/ 2,164,446 S/ 1,013,288 Mediana
5 S/ 2,164,446 S/ 1,259,678 Moda
6 S/ 2,164,446 S/ 5,272,064 Desviación está
7 S/ 2,164,446 S/ 2,600,814 Varianza de la
8 S/ 2,164,446 S/ 1,393,272 Curtosis
9 S/ 2,164,446 S/ 4,474,202 Coeficiente de
10 S/ 2,164,446 S/ 3,123,521 Rango
11 S/ 2,164,446 S/ 2,036,108 Mínimo
12 S/ 2,164,446 -S/ 2,410,437 Máximo
13 S/ 2,164,446 S/ 2,702,296 Suma
14 S/ 2,164,446 S/ 3,620,670 Cuenta
15 S/ 2,164,446 -S/ 2,580,563 Nivel de confia
16 S/ 2,164,446 S/ 3,688,553
17 S/ 2,164,446 S/ 4,257,126
18 S/ 2,164,446 S/ 3,953,468
19 S/ 2,164,446 S/ 11,054,532 Al 68% de Confianza
20 S/ 2,164,446 S/ 329,584
21 S/ 2,164,446 S/ 1,447,320 Media
22 S/ 2,164,446 -S/ 4,218,572 Error típico
23 S/ 2,164,446 S/ 183,429 Mediana
24 S/ 2,164,446 S/ 8,785,091 Moda
25 S/ 2,164,446 S/ 4,446,416 Desviación está
26 S/ 2,164,446 S/ 1,757,922 Varianza de la
27 S/ 2,164,446 -S/ 373,089 Curtosis
28 S/ 2,164,446 -S/ 1,877,592 Coeficiente de
29 S/ 2,164,446 S/ 4,353,731 Rango
30 S/ 2,164,446 S/ 6,316,946 Mínimo
31 S/ 2,164,446 S/ 1,358,099 Máximo
32 S/ 2,164,446 -S/ 642,288 Suma
33 S/ 2,164,446 -S/ 888,472 Cuenta
34 S/ 2,164,446 -S/ 41,694 Nivel de confia
35 S/ 2,164,446 S/ 3,491,726
36 S/ 2,164,446 S/ 561,819
37 S/ 2,164,446 -S/ 762,991
38 S/ 2,164,446 S/ 1,897,722
39 S/ 2,164,446 S/ 236,204
40 S/ 2,164,446 S/ 1,179,733
41 S/ 2,164,446 S/ 3,022,993
42 S/ 2,164,446 S/ 46,206
43 S/ 2,164,446 S/ 3,850,516
44 S/ 2,164,446 S/ 5,188,560
45 S/ 2,164,446 S/ 3,091,211
46 S/ 2,164,446 S/ 865,574
47 S/ 2,164,446 S/ 1,421,949
48 S/ 2,164,446 S/ 227,701
49 S/ 2,164,446 S/ 1,287,856
50 S/ 2,164,446 S/ 4,461,724
51 S/ 2,164,446 -S/ 740,502
52 S/ 2,164,446 S/ 1,489,628
53 S/ 2,164,446 S/ 6,018,561
54 S/ 2,164,446 S/ 3,544,341
55 S/ 2,164,446 S/ 3,314,704
56 S/ 2,164,446 S/ 4,113,932
57 S/ 2,164,446 S/ 6,312,187
58 S/ 2,164,446 S/ 577,290
59 S/ 2,164,446 S/ 3,298,282
60 S/ 2,164,446 S/ 5,678,310
61 S/ 2,164,446 S/ 1,860,123
62 S/ 2,164,446 S/ 3,722,590
63 S/ 2,164,446 S/ 5,655,548
64 S/ 2,164,446 S/ 7,159,866
65 S/ 2,164,446 S/ 3,244,522
66 S/ 2,164,446 S/ 5,672,985
67 S/ 2,164,446 S/ 6,387,055
68 S/ 2,164,446 -S/ 1,088,843
69 S/ 2,164,446 S/ 5,133,138
70 S/ 2,164,446 S/ 6,160,709
71 S/ 2,164,446 S/ 1,277,269
72 S/ 2,164,446 S/ 6,431,230
73 S/ 2,164,446 -S/ 87,191
74 S/ 2,164,446 S/ 5,882,637
75 S/ 2,164,446 S/ 1,602,644
76 S/ 2,164,446 S/ 9,217
77 S/ 2,164,446 -S/ 2,796,455
78 S/ 2,164,446 S/ 2,113,313
79 S/ 2,164,446 S/ 1,018,117
80 S/ 2,164,446 S/ 394,516
81 S/ 2,164,446 S/ 5,138,324
82 S/ 2,164,446 S/ 1,338,316
83 S/ 2,164,446 S/ 2,798,327
84 S/ 2,164,446 S/ 4,631,348
85 S/ 2,164,446 S/ 5,624,586
86 S/ 2,164,446 S/ 2,039,200
87 S/ 2,164,446 -S/ 1,280,864
88 S/ 2,164,446 S/ 871,800
89 S/ 2,164,446 S/ 3,132,119
90 S/ 2,164,446 S/ 4,851,990
91 S/ 2,164,446 -S/ 393,367
92 S/ 2,164,446 -S/ 1,976,470
93 S/ 2,164,446 S/ 210,978
94 S/ 2,164,446 -S/ 1,794,862
95 S/ 2,164,446 -S/ 92,103
96 S/ 2,164,446 S/ 25,864
97 S/ 2,164,446 -S/ 84,462
98 S/ 2,164,446 S/ 2,168,195
99 S/ 2,164,446 S/ 3,229,442
100 S/ 2,164,446 S/ 3,816,874
101 S/ 2,164,446 S/ 811,086
102 S/ 2,164,446 S/ 3,512,409
103 S/ 2,164,446 S/ 3,718,251
104 S/ 2,164,446 S/ 1,511,625
105 S/ 2,164,446 S/ 2,191,297
106 S/ 2,164,446 S/ 3,907,484
107 S/ 2,164,446 S/ 2,323,306
108 S/ 2,164,446 -S/ 1,731,117
109 S/ 2,164,446 S/ 5,063,012
110 S/ 2,164,446 S/ 4,218,920
111 S/ 2,164,446 S/ 3,435,868
112 S/ 2,164,446 -S/ 45,058
113 S/ 2,164,446 -S/ 3,242,193
114 S/ 2,164,446 S/ 3,563,900
115 S/ 2,164,446 S/ 495,249
116 S/ 2,164,446 S/ 4,179,802
117 S/ 2,164,446 S/ 2,131,942
118 S/ 2,164,446 S/ 4,924,594
119 S/ 2,164,446 S/ 6,657,349
120 S/ 2,164,446 S/ 2,591,411
121 S/ 2,164,446 S/ 3,404,644
122 S/ 2,164,446 S/ 747,479
123 S/ 2,164,446 S/ 5,003,673
124 S/ 2,164,446 S/ 8,244,464
125 S/ 2,164,446 S/ 5,109,614
126 S/ 2,164,446 S/ 2,292,615
127 S/ 2,164,446 S/ 6,375,428
128 S/ 2,164,446 S/ 4,524,026
129 S/ 2,164,446 S/ 3,552,277
130 S/ 2,164,446 S/ 1,487,785
131 S/ 2,164,446 S/ 921,513
132 S/ 2,164,446 S/ 4,708,141
133 S/ 2,164,446 -S/ 620,153
134 S/ 2,164,446 -S/ 36,088
135 S/ 2,164,446 -S/ 3,183,160
136 S/ 2,164,446 S/ 3,674,250
137 S/ 2,164,446 S/ 1,337,141
138 S/ 2,164,446 S/ 7,982,775
139 S/ 2,164,446 S/ 2,449,597
140 S/ 2,164,446 S/ 672,245
141 S/ 2,164,446 -S/ 79,377
142 S/ 2,164,446 S/ 1,515,753
143 S/ 2,164,446 S/ 3,663,585
144 S/ 2,164,446 S/ 668,587
145 S/ 2,164,446 S/ 3,982,264
146 S/ 2,164,446 -S/ 493,994
147 S/ 2,164,446 S/ 4,124,750
148 S/ 2,164,446 S/ 4,756,743
149 S/ 2,164,446 S/ 7,165,687
150 S/ 2,164,446 -S/ 156,399
151 S/ 2,164,446 S/ 1,890,682
152 S/ 2,164,446 S/ 2,325,074
153 S/ 2,164,446 S/ 7,653,729
154 S/ 2,164,446 -S/ 287,968
155 S/ 2,164,446 -S/ 947,239
156 S/ 2,164,446 S/ 2,552,792
157 S/ 2,164,446 S/ 6,308,571
158 S/ 2,164,446 S/ 3,006,925
159 S/ 2,164,446 S/ 3,156,933
160 S/ 2,164,446 S/ 256,453
161 S/ 2,164,446 -S/ 2,750,817
162 S/ 2,164,446 S/ 4,677,000
163 S/ 2,164,446 S/ 493,543
164 S/ 2,164,446 -S/ 373,732
165 S/ 2,164,446 S/ 4,164,826
166 S/ 2,164,446 -S/ 85,829
167 S/ 2,164,446 S/ 2,186,883
168 S/ 2,164,446 S/ 3,670,626
169 S/ 2,164,446 S/ 3,485,326
170 S/ 2,164,446 S/ 4,134,231
171 S/ 2,164,446 S/ 1,492,239
172 S/ 2,164,446 S/ 3,011,319
173 S/ 2,164,446 S/ 5,791,213
174 S/ 2,164,446 S/ 2,405,173
175 S/ 2,164,446 S/ 3,271,183
176 S/ 2,164,446 S/ 1,057,343
177 S/ 2,164,446 S/ 813,774
178 S/ 2,164,446 S/ 4,782,268
179 S/ 2,164,446 S/ 2,443,879
180 S/ 2,164,446 S/ 3,542,857
181 S/ 2,164,446 -S/ 728,168
182 S/ 2,164,446 S/ 2,970,180
183 S/ 2,164,446 S/ 598,728
184 S/ 2,164,446 S/ 2,499,407
185 S/ 2,164,446 S/ 1,365,524
186 S/ 2,164,446 S/ 6,770,807
187 S/ 2,164,446 S/ 1,252,994
188 S/ 2,164,446 S/ 2,499,105
189 S/ 2,164,446 S/ 2,316,892
190 S/ 2,164,446 S/ 1,760,634
191 S/ 2,164,446 S/ 5,553,723
192 S/ 2,164,446 S/ 1,605,230
193 S/ 2,164,446 S/ 1,749,758
194 S/ 2,164,446 -S/ 866,303
195 S/ 2,164,446 S/ 3,544,886
196 S/ 2,164,446 S/ 662,199
197 S/ 2,164,446 S/ 2,458,518
198 S/ 2,164,446 S/ 6,381,743
199 S/ 2,164,446 S/ 4,074,226
200 S/ 2,164,446 S/ 3,028,788
201 S/ 2,164,446 -S/ 1,179,187
202 S/ 2,164,446 S/ 4,410,283
203 S/ 2,164,446 S/ 1,622,335
204 S/ 2,164,446 S/ 504,844
205 S/ 2,164,446 -S/ 1,421,826
206 S/ 2,164,446 S/ 4,373,348
207 S/ 2,164,446 S/ 3,275,296
208 S/ 2,164,446 -S/ 959,136
209 S/ 2,164,446 S/ 1,464,468
210 S/ 2,164,446 S/ 2,207,373
211 S/ 2,164,446 S/ 3,907,118
212 S/ 2,164,446 S/ 5,877,089
213 S/ 2,164,446 S/ 3,048,352
214 S/ 2,164,446 S/ 2,549,178
215 S/ 2,164,446 -S/ 354,452
216 S/ 2,164,446 S/ 1,473,165
217 S/ 2,164,446 S/ 3,338,578
218 S/ 2,164,446 S/ 191,282
219 S/ 2,164,446 S/ 170,228
220 S/ 2,164,446 S/ 6,768,427
221 S/ 2,164,446 S/ 3,683,443
222 S/ 2,164,446 S/ 105,132
223 S/ 2,164,446 -S/ 2,143,880
224 S/ 2,164,446 S/ 4,621,623
225 S/ 2,164,446 -S/ 1,839,547
226 S/ 2,164,446 S/ 2,969,350
227 S/ 2,164,446 S/ 3,486,583
228 S/ 2,164,446 -S/ 1,232,271
229 S/ 2,164,446 S/ 24,519
230 S/ 2,164,446 S/ 2,401,399
231 S/ 2,164,446 S/ 1,203,284
232 S/ 2,164,446 S/ 5,574,942
233 S/ 2,164,446 S/ 4,133,510
234 S/ 2,164,446 S/ 3,816,431
235 S/ 2,164,446 S/ 2,725,086
236 S/ 2,164,446 -S/ 1,089,791
237 S/ 2,164,446 S/ 4,860,919
238 S/ 2,164,446 -S/ 3,720,097
239 S/ 2,164,446 S/ 3,952,179
240 S/ 2,164,446 S/ 841,226
241 S/ 2,164,446 S/ 1,290,888
242 S/ 2,164,446 S/ 2,284,213
243 S/ 2,164,446 -S/ 499,639
244 S/ 2,164,446 S/ 1,420,478
245 S/ 2,164,446 S/ 4,671,413
246 S/ 2,164,446 S/ 2,333,379
247 S/ 2,164,446 S/ 2,465,559
248 S/ 2,164,446 S/ 1,126,947
249 S/ 2,164,446 S/ 454,762
250 S/ 2,164,446 S/ 3,445,270
251 S/ 2,164,446 S/ 3,121,998
252 S/ 2,164,446 S/ 1,344,791
253 S/ 2,164,446 S/ 3,436,033
254 S/ 2,164,446 S/ 5,310,961
255 S/ 2,164,446 S/ 2,705,576
256 S/ 2,164,446 S/ 3,900,699
257 S/ 2,164,446 S/ 2,415,555
258 S/ 2,164,446 S/ 1,816,658
259 S/ 2,164,446 S/ 3,372,645
260 S/ 2,164,446 S/ 755,708
261 S/ 2,164,446 -S/ 1,792,548
262 S/ 2,164,446 S/ 3,735,035
263 S/ 2,164,446 S/ 721,203
264 S/ 2,164,446 S/ 6,729,751
265 S/ 2,164,446 S/ 249,972
266 S/ 2,164,446 S/ 1,619,349
267 S/ 2,164,446 -S/ 360,071
268 S/ 2,164,446 S/ 3,352,510
269 S/ 2,164,446 S/ 2,444,117
270 S/ 2,164,446 S/ 4,402,532
271 S/ 2,164,446 S/ 2,851,573
272 S/ 2,164,446 -S/ 1,433,397
273 S/ 2,164,446 S/ 8,970,737
274 S/ 2,164,446 S/ 3,091,461
275 S/ 2,164,446 S/ 929,495
276 S/ 2,164,446 S/ 85,353
277 S/ 2,164,446 S/ 5,972,575
278 S/ 2,164,446 -S/ 1,048,495
279 S/ 2,164,446 S/ 4,481,278
280 S/ 2,164,446 -S/ 969,883
281 S/ 2,164,446 S/ 1,468,328
282 S/ 2,164,446 S/ 2,953,652
283 S/ 2,164,446 S/ 2,430,330
284 S/ 2,164,446 S/ 3,107,061
285 S/ 2,164,446 S/ 1,748,764
286 S/ 2,164,446 S/ 2,861,166
287 S/ 2,164,446 S/ 2,019,023
288 S/ 2,164,446 S/ 4,404,097
289 S/ 2,164,446 S/ 54,981
290 S/ 2,164,446 S/ 5,015,078
291 S/ 2,164,446 S/ 3,182,672
292 S/ 2,164,446 S/ 5,701,611
293 S/ 2,164,446 S/ 171,868
294 S/ 2,164,446 S/ 2,051,611
295 S/ 2,164,446 S/ 4,454,183
296 S/ 2,164,446 S/ 2,215,565
297 S/ 2,164,446 S/ 933,316
298 S/ 2,164,446 S/ 1,642,241
299 S/ 2,164,446 S/ 2,002,224
300 S/ 2,164,446 S/ 3,687,381
301 S/ 2,164,446 S/ 1,342,926
302 S/ 2,164,446 S/ 2,633,688
303 S/ 2,164,446 S/ 6,463,936
304 S/ 2,164,446 S/ 3,507,577
305 S/ 2,164,446 S/ 545,990
306 S/ 2,164,446 -S/ 2,031,727
307 S/ 2,164,446 S/ 1,421,307
308 S/ 2,164,446 S/ 5,991,804
309 S/ 2,164,446 S/ 2,591,609
310 S/ 2,164,446 S/ 6,946,783
311 S/ 2,164,446 S/ 2,260,931
312 S/ 2,164,446 S/ 1,915,472
313 S/ 2,164,446 S/ 4,111,500
314 S/ 2,164,446 S/ 560,398
315 S/ 2,164,446 -S/ 140,664
316 S/ 2,164,446 S/ 1,978,961
317 S/ 2,164,446 S/ 2,425,592
318 S/ 2,164,446 S/ 4,572,304
319 S/ 2,164,446 S/ 2,084,844
320 S/ 2,164,446 S/ 375,116
321 S/ 2,164,446 S/ 5,362,706
322 S/ 2,164,446 S/ 3,707,722
323 S/ 2,164,446 S/ 4,097,622
324 S/ 2,164,446 -S/ 387,272
325 S/ 2,164,446 S/ 487,898
326 S/ 2,164,446 S/ 3,684,042
327 S/ 2,164,446 S/ 903,318
328 S/ 2,164,446 -S/ 2,570,905
329 S/ 2,164,446 S/ 2,591,436
330 S/ 2,164,446 S/ 148,042
331 S/ 2,164,446 S/ 7,658,473
332 S/ 2,164,446 S/ 6,607,472
333 S/ 2,164,446 S/ 6,304,564
334 S/ 2,164,446 S/ 3,323,628
335 S/ 2,164,446 -S/ 44,175
336 S/ 2,164,446 S/ 1,810,648
337 S/ 2,164,446 S/ 4,295,826
338 S/ 2,164,446 -S/ 1,217,762
339 S/ 2,164,446 S/ 5,087,939
340 S/ 2,164,446 S/ 4,425,641
341 S/ 2,164,446 -S/ 2,643,769
342 S/ 2,164,446 S/ 1,261,383
343 S/ 2,164,446 S/ 2,758,184
344 S/ 2,164,446 S/ 1,245,330
345 S/ 2,164,446 S/ 5,934,578
346 S/ 2,164,446 S/ 995,119
347 S/ 2,164,446 S/ 3,774,674
348 S/ 2,164,446 S/ 142,546
349 S/ 2,164,446 -S/ 789,062
350 S/ 2,164,446 S/ 1,983,826
351 S/ 2,164,446 -S/ 1,158,101
352 S/ 2,164,446 S/ 6,141,842
353 S/ 2,164,446 -S/ 277,487
354 S/ 2,164,446 S/ 3,431,066
355 S/ 2,164,446 -S/ 776,663
356 S/ 2,164,446 S/ 189,322
357 S/ 2,164,446 S/ 6,292,418
358 S/ 2,164,446 S/ 7,427,174
359 S/ 2,164,446 S/ 1,512,775
360 S/ 2,164,446 S/ 3,006,638
361 S/ 2,164,446 -S/ 1,476,371
362 S/ 2,164,446 S/ 1,008,006
363 S/ 2,164,446 S/ 8,039,129
364 S/ 2,164,446 S/ 4,625,772
365 S/ 2,164,446 S/ 2,777,798
366 S/ 2,164,446 S/ 874,891
367 S/ 2,164,446 S/ 9,084,995
368 S/ 2,164,446 S/ 6,281,111
369 S/ 2,164,446 -S/ 3,118,742
370 S/ 2,164,446 S/ 2,439,807
371 S/ 2,164,446 S/ 4,583,752
372 S/ 2,164,446 S/ 1,213,176
373 S/ 2,164,446 S/ 1,757,838
374 S/ 2,164,446 S/ 3,943,184
375 S/ 2,164,446 S/ 3,312,145
376 S/ 2,164,446 -S/ 265,994
377 S/ 2,164,446 S/ 6,125,824
378 S/ 2,164,446 -S/ 1,050,885
379 S/ 2,164,446 S/ 1,086,541
380 S/ 2,164,446 S/ 3,145,274
381 S/ 2,164,446 S/ 113,621
382 S/ 2,164,446 S/ 2,871,320
383 S/ 2,164,446 S/ 695,108
384 S/ 2,164,446 -S/ 424,833
385 S/ 2,164,446 S/ 4,945,106
386 S/ 2,164,446 S/ 6,684,950
387 S/ 2,164,446 S/ 518,038
388 S/ 2,164,446 S/ 4,169,523
389 S/ 2,164,446 S/ 2,928,159
390 S/ 2,164,446 S/ 6,753,717
391 S/ 2,164,446 -S/ 254,975
392 S/ 2,164,446 S/ 4,487,596
393 S/ 2,164,446 S/ 3,974,098
394 S/ 2,164,446 S/ 1,554,667
395 S/ 2,164,446 S/ 3,924,508
396 S/ 2,164,446 S/ 4,931,045
397 S/ 2,164,446 S/ 4,588,229
398 S/ 2,164,446 S/ 3,919,571
399 S/ 2,164,446 -S/ 3,168,390
400 S/ 2,164,446 S/ 1,869,698
401 S/ 2,164,446 S/ 7,217,098
402 S/ 2,164,446 S/ 3,849,123
403 S/ 2,164,446 S/ 998,327
404 S/ 2,164,446 S/ 5,353,217
405 S/ 2,164,446 -S/ 349,159
406 S/ 2,164,446 S/ 2,477,627
407 S/ 2,164,446 S/ 531,738
408 S/ 2,164,446 -S/ 2,175,744
409 S/ 2,164,446 S/ 4,123,899
410 S/ 2,164,446 S/ 5,941,178
411 S/ 2,164,446 S/ 1,478,677
412 S/ 2,164,446 S/ 6,525,147
413 S/ 2,164,446 S/ 4,618,749
414 S/ 2,164,446 S/ 5,576,609
415 S/ 2,164,446 S/ 6,361,722
416 S/ 2,164,446 S/ 3,130,828
417 S/ 2,164,446 S/ 750,752
418 S/ 2,164,446 S/ 162,678
419 S/ 2,164,446 S/ 3,279,182
420 S/ 2,164,446 S/ 6,926,160
421 S/ 2,164,446 S/ 3,509,316
422 S/ 2,164,446 S/ 3,945,223
423 S/ 2,164,446 S/ 485,123
424 S/ 2,164,446 S/ 3,581,826
425 S/ 2,164,446 -S/ 11,066
426 S/ 2,164,446 S/ 3,385,806
427 S/ 2,164,446 S/ 1,693,771
428 S/ 2,164,446 S/ 4,349,608
429 S/ 2,164,446 S/ 5,534,036
430 S/ 2,164,446 S/ 2,467,472
431 S/ 2,164,446 S/ 3,572,719
432 S/ 2,164,446 S/ 853,792
433 S/ 2,164,446 S/ 2,757,985
434 S/ 2,164,446 S/ 4,805,997
435 S/ 2,164,446 -S/ 2,294,541
436 S/ 2,164,446 -S/ 1,026,751
437 S/ 2,164,446 S/ 1,119,639
438 S/ 2,164,446 S/ 9,062,856
439 S/ 2,164,446 S/ 3,479,716
440 S/ 2,164,446 -S/ 126,122
441 S/ 2,164,446 S/ 1,209,404
442 S/ 2,164,446 S/ 2,256,385
443 S/ 2,164,446 S/ 1,473,462
444 S/ 2,164,446 S/ 1,454,795
445 S/ 2,164,446 S/ 3,488,688
446 S/ 2,164,446 S/ 3,827,629
447 S/ 2,164,446 S/ 3,911,607
448 S/ 2,164,446 S/ 2,326,570
449 S/ 2,164,446 S/ 138,755
450 S/ 2,164,446 -S/ 559,907
451 S/ 2,164,446 S/ 3,948,023
452 S/ 2,164,446 S/ 1,965,452
453 S/ 2,164,446 S/ 5,351,186
454 S/ 2,164,446 S/ 3,748,652
455 S/ 2,164,446 S/ 3,588,356
456 S/ 2,164,446 S/ 2,187,254
457 S/ 2,164,446 S/ 3,613,001
458 S/ 2,164,446 S/ 2,551,000
459 S/ 2,164,446 S/ 3,919,400
460 S/ 2,164,446 -S/ 2,885,797
461 S/ 2,164,446 S/ 2,590,262
462 S/ 2,164,446 S/ 443,956
463 S/ 2,164,446 -S/ 2,076,735
464 S/ 2,164,446 S/ 1,809,007
465 S/ 2,164,446 S/ 2,686,110
466 S/ 2,164,446 S/ 3,995,444
467 S/ 2,164,446 S/ 4,265,413
468 S/ 2,164,446 -S/ 528,225
469 S/ 2,164,446 S/ 13,615
470 S/ 2,164,446 S/ 2,712,280
471 S/ 2,164,446 S/ 2,255,323
472 S/ 2,164,446 S/ 2,492,833
473 S/ 2,164,446 S/ 1,366,879
474 S/ 2,164,446 S/ 4,174,215
475 S/ 2,164,446 S/ 5,067,513
476 S/ 2,164,446 S/ 6,219,331
477 S/ 2,164,446 S/ 4,835,074
478 S/ 2,164,446 S/ 586,335
479 S/ 2,164,446 S/ 3,054,568
480 S/ 2,164,446 S/ 2,858,994
481 S/ 2,164,446 S/ 1,918,873
482 S/ 2,164,446 S/ 5,313,191
483 S/ 2,164,446 S/ 4,263,544
484 S/ 2,164,446 S/ 1,500,834
485 S/ 2,164,446 -S/ 173,988
486 S/ 2,164,446 S/ 350,432
487 S/ 2,164,446 S/ 7,439,368
488 S/ 2,164,446 S/ 1,849,027
489 S/ 2,164,446 S/ 6,313,175
490 S/ 2,164,446 S/ 2,124,767
491 S/ 2,164,446 -S/ 499,059
492 S/ 2,164,446 S/ 1,271,134
493 S/ 2,164,446 S/ 4,681,014
494 S/ 2,164,446 S/ 5,112,061
495 S/ 2,164,446 S/ 3,038,850
496 S/ 2,164,446 S/ 2,322,355
497 S/ 2,164,446 -S/ 991,424
498 S/ 2,164,446 S/ 4,809,395
499 S/ 2,164,446 S/ 3,429,012
500 S/ 2,164,446 S/ 2,075,120
501 S/ 2,164,446 S/ 1,010,402
502 S/ 2,164,446 S/ 6,482,133
503 S/ 2,164,446 S/ 6,872,056
504 S/ 2,164,446 S/ 843,508
505 S/ 2,164,446 S/ 3,108,075
506 S/ 2,164,446 S/ 5,604,517
507 S/ 2,164,446 -S/ 652,843
508 S/ 2,164,446 S/ 2,971,661
509 S/ 2,164,446 S/ 2,446,369
510 S/ 2,164,446 S/ 7,556,575
511 S/ 2,164,446 S/ 6,138,600
512 S/ 2,164,446 S/ 3,927,333
513 S/ 2,164,446 S/ 6,383,749
514 S/ 2,164,446 S/ 5,058,908
515 S/ 2,164,446 -S/ 1,497,909
516 S/ 2,164,446 S/ 970,572
517 S/ 2,164,446 -S/ 1,400,623
518 S/ 2,164,446 S/ 3,539,633
519 S/ 2,164,446 S/ 3,836,849
520 S/ 2,164,446 S/ 3,009,041
521 S/ 2,164,446 S/ 1,862,533
522 S/ 2,164,446 S/ 4,453,520
523 S/ 2,164,446 S/ 1,891,428
524 S/ 2,164,446 -S/ 463,125
525 S/ 2,164,446 S/ 3,631,377
526 S/ 2,164,446 S/ 4,654,270
527 S/ 2,164,446 S/ 5,314,003
528 S/ 2,164,446 S/ 7,981,247
529 S/ 2,164,446 S/ 2,638,043
530 S/ 2,164,446 S/ 4,405,776
531 S/ 2,164,446 S/ 1,170,780
532 S/ 2,164,446 S/ 2,508,996
533 S/ 2,164,446 S/ 3,017,482
534 S/ 2,164,446 S/ 733,426
535 S/ 2,164,446 S/ 3,153,702
536 S/ 2,164,446 S/ 1,084,538
537 S/ 2,164,446 S/ 3,419,467
538 S/ 2,164,446 S/ 5,719,986
539 S/ 2,164,446 S/ 3,844,476
540 S/ 2,164,446 -S/ 353,558
541 S/ 2,164,446 S/ 5,976,382
542 S/ 2,164,446 S/ 2,826,998
543 S/ 2,164,446 S/ 4,072,216
544 S/ 2,164,446 S/ 4,114,892
545 S/ 2,164,446 S/ 1,519,509
546 S/ 2,164,446 -S/ 594,471
547 S/ 2,164,446 -S/ 2,578,546
548 S/ 2,164,446 -S/ 1,582,368
549 S/ 2,164,446 S/ 3,062,873
550 S/ 2,164,446 S/ 8,342,067
551 S/ 2,164,446 S/ 434,345
552 S/ 2,164,446 S/ 4,018,729
553 S/ 2,164,446 -S/ 1,171,366
554 S/ 2,164,446 -S/ 1,401,928
555 S/ 2,164,446 S/ 6,653,447
556 S/ 2,164,446 S/ 2,131,836
557 S/ 2,164,446 S/ 1,424,385
558 S/ 2,164,446 S/ 3,692,970
559 S/ 2,164,446 S/ 1,506,459
560 S/ 2,164,446 S/ 4,765,867
561 S/ 2,164,446 S/ 5,104,417
562 S/ 2,164,446 -S/ 270,938
563 S/ 2,164,446 -S/ 870,478
564 S/ 2,164,446 -S/ 1,167,591
565 S/ 2,164,446 S/ 1,615,239
566 S/ 2,164,446 -S/ 87,503
567 S/ 2,164,446 S/ 3,680,241
568 S/ 2,164,446 S/ 4,177,173
569 S/ 2,164,446 -S/ 230,944
570 S/ 2,164,446 S/ 4,812,844
571 S/ 2,164,446 S/ 7,457,907
572 S/ 2,164,446 S/ 1,402,099
573 S/ 2,164,446 S/ 163,800
574 S/ 2,164,446 S/ 2,961,520
575 S/ 2,164,446 -S/ 168,531
576 S/ 2,164,446 S/ 2,149,113
577 S/ 2,164,446 S/ 2,339,290
578 S/ 2,164,446 S/ 2,431,472
579 S/ 2,164,446 -S/ 2,148,534
580 S/ 2,164,446 S/ 2,697,026
581 S/ 2,164,446 S/ 585,525
582 S/ 2,164,446 S/ 6,303,057
583 S/ 2,164,446 S/ 3,883,468
584 S/ 2,164,446 S/ 2,903,798
585 S/ 2,164,446 S/ 4,164,475
586 S/ 2,164,446 -S/ 1,999,777
587 S/ 2,164,446 S/ 3,903,654
588 S/ 2,164,446 -S/ 1,874,914
589 S/ 2,164,446 S/ 2,710,187
590 S/ 2,164,446 -S/ 1,111,618
591 S/ 2,164,446 S/ 4,448,244
592 S/ 2,164,446 -S/ 738,437
593 S/ 2,164,446 S/ 1,293,851
594 S/ 2,164,446 S/ 3,764,311
595 S/ 2,164,446 S/ 4,749,335
596 S/ 2,164,446 S/ 3,885,207
597 S/ 2,164,446 S/ 6,026,487
598 S/ 2,164,446 -S/ 3,821,073
599 S/ 2,164,446 S/ 7,157,268
600 S/ 2,164,446 S/ 5,252,176
601 S/ 2,164,446 S/ 4,366,604
602 S/ 2,164,446 S/ 5,845,757
603 S/ 2,164,446 S/ 4,711,317
604 S/ 2,164,446 S/ 4,216,886
605 S/ 2,164,446 S/ 1,491,960
606 S/ 2,164,446 S/ 4,472,848
607 S/ 2,164,446 -S/ 459,129
608 S/ 2,164,446 S/ 6,970,718
609 S/ 2,164,446 S/ 478,404
610 S/ 2,164,446 S/ 9,659,253
611 S/ 2,164,446 S/ 817,435
612 S/ 2,164,446 S/ 2,200,569
613 S/ 2,164,446 S/ 3,475,186
614 S/ 2,164,446 S/ 942,299
615 S/ 2,164,446 S/ 2,034,141
616 S/ 2,164,446 S/ 5,807,253
617 S/ 2,164,446 S/ 1,641,375
618 S/ 2,164,446 S/ 3,332,044
619 S/ 2,164,446 -S/ 3,384
620 S/ 2,164,446 S/ 1,985,184
621 S/ 2,164,446 S/ 3,954,454
622 S/ 2,164,446 S/ 5,029,525
623 S/ 2,164,446 S/ 2,726,603
624 S/ 2,164,446 S/ 3,629,088
625 S/ 2,164,446 S/ 987,320
626 S/ 2,164,446 S/ 4,787,251
627 S/ 2,164,446 S/ 3,485,333
628 S/ 2,164,446 S/ 4,556,419
629 S/ 2,164,446 S/ 2,866,439
630 S/ 2,164,446 S/ 5,828,866
631 S/ 2,164,446 S/ 6,125,288
632 S/ 2,164,446 S/ 2,010,293
633 S/ 2,164,446 S/ 1,802,028
634 S/ 2,164,446 S/ 2,731,680
635 S/ 2,164,446 S/ 2,318,126
636 S/ 2,164,446 -S/ 884,881
637 S/ 2,164,446 S/ 3,163,610
638 S/ 2,164,446 S/ 5,783,551
639 S/ 2,164,446 S/ 1,104,250
640 S/ 2,164,446 S/ 3,376,191
641 S/ 2,164,446 S/ 5,481,775
642 S/ 2,164,446 S/ 3,157,225
643 S/ 2,164,446 S/ 6,262,465
644 S/ 2,164,446 S/ 4,602,606
645 S/ 2,164,446 S/ 1,425,990
646 S/ 2,164,446 S/ 5,855,630
647 S/ 2,164,446 S/ 1,578,081
648 S/ 2,164,446 S/ 3,703,570
649 S/ 2,164,446 S/ 2,493,708
650 S/ 2,164,446 S/ 1,439,999
651 S/ 2,164,446 S/ 2,619,419
652 S/ 2,164,446 S/ 4,756,017
653 S/ 2,164,446 -S/ 3,998,736
654 S/ 2,164,446 S/ 3,934,713
655 S/ 2,164,446 S/ 2,076,464
656 S/ 2,164,446 -S/ 1,982,868
657 S/ 2,164,446 S/ 3,068,504
658 S/ 2,164,446 -S/ 954,696
659 S/ 2,164,446 S/ 8,461,077
660 S/ 2,164,446 S/ 2,928,833
661 S/ 2,164,446 S/ 3,895,068
662 S/ 2,164,446 S/ 3,429,895
663 S/ 2,164,446 S/ 2,040,629
664 S/ 2,164,446 S/ 3,731,888
665 S/ 2,164,446 S/ 5,186,874
666 S/ 2,164,446 S/ 1,518,613
667 S/ 2,164,446 S/ 226,043
668 S/ 2,164,446 S/ 6,715,889
669 S/ 2,164,446 S/ 2,378,773
670 S/ 2,164,446 S/ 32,348
671 S/ 2,164,446 S/ 386,935
672 S/ 2,164,446 S/ 676,555
673 S/ 2,164,446 S/ 2,171,051
674 S/ 2,164,446 S/ 2,908,635
675 S/ 2,164,446 S/ 3,204,280
676 S/ 2,164,446 S/ 4,861,819
677 S/ 2,164,446 S/ 3,691,243
678 S/ 2,164,446 S/ 5,074,319
679 S/ 2,164,446 S/ 679,986
680 S/ 2,164,446 S/ 5,478,247
681 S/ 2,164,446 -S/ 3,788,728
682 S/ 2,164,446 S/ 4,603,711
683 S/ 2,164,446 S/ 6,820,022
684 S/ 2,164,446 S/ 4,058,389
685 S/ 2,164,446 S/ 5,335,600
686 S/ 2,164,446 S/ 4,726,779
687 S/ 2,164,446 S/ 4,333,544
688 S/ 2,164,446 S/ 1,687,811
689 S/ 2,164,446 S/ 1,402,892
690 S/ 2,164,446 S/ 2,881,513
691 S/ 2,164,446 S/ 5,336,228
692 S/ 2,164,446 S/ 9,197,569
693 S/ 2,164,446 S/ 2,295,834
694 S/ 2,164,446 S/ 1,945,114
695 S/ 2,164,446 S/ 3,464,657
696 S/ 2,164,446 S/ 1,020,855
697 S/ 2,164,446 S/ 2,467,871
698 S/ 2,164,446 S/ 9,144,655
699 S/ 2,164,446 -S/ 3,530,376
700 S/ 2,164,446 S/ 2,505,633
701 S/ 2,164,446 S/ 5,986,335
702 S/ 2,164,446 S/ 6,507,748
703 S/ 2,164,446 S/ 4,138,331
704 S/ 2,164,446 S/ 1,585,710
705 S/ 2,164,446 S/ 3,143,576
706 S/ 2,164,446 S/ 1,240,001
707 S/ 2,164,446 S/ 2,507,734
708 S/ 2,164,446 S/ 470,738
709 S/ 2,164,446 S/ 1,574,870
710 S/ 2,164,446 -S/ 5,495,225
711 S/ 2,164,446 S/ 3,721,771
712 S/ 2,164,446 S/ 2,799,201
713 S/ 2,164,446 S/ 1,483,822
714 S/ 2,164,446 S/ 6,745,400
715 S/ 2,164,446 S/ 2,742,799
716 S/ 2,164,446 S/ 4,680,517
717 S/ 2,164,446 S/ 1,382,937
718 S/ 2,164,446 S/ 2,450,306
719 S/ 2,164,446 -S/ 2,597,190
720 S/ 2,164,446 S/ 6,064,310
721 S/ 2,164,446 -S/ 1,098,219
722 S/ 2,164,446 S/ 1,344,622
723 S/ 2,164,446 -S/ 1,860,182
724 S/ 2,164,446 -S/ 364,971
725 S/ 2,164,446 S/ 369,993
726 S/ 2,164,446 S/ 3,060,081
727 S/ 2,164,446 S/ 3,578,677
728 S/ 2,164,446 S/ 3,314,577
729 S/ 2,164,446 S/ 5,637,418
730 S/ 2,164,446 -S/ 510,221
731 S/ 2,164,446 S/ 5,366,975
732 S/ 2,164,446 S/ 8,835,662
733 S/ 2,164,446 -S/ 766,526
734 S/ 2,164,446 S/ 2,196,403
735 S/ 2,164,446 S/ 1,239,231
736 S/ 2,164,446 S/ 4,213,511
737 S/ 2,164,446 S/ 3,623,721
738 S/ 2,164,446 S/ 2,594,117
739 S/ 2,164,446 S/ 5,793,904
740 S/ 2,164,446 S/ 3,872,895
741 S/ 2,164,446 S/ 1,459,980
742 S/ 2,164,446 S/ 7,966,913
743 S/ 2,164,446 S/ 4,058,991
744 S/ 2,164,446 -S/ 926,980
745 S/ 2,164,446 S/ 3,170,178
746 S/ 2,164,446 S/ 3,823,569
747 S/ 2,164,446 S/ 1,418,508
748 S/ 2,164,446 S/ 6,464,001
749 S/ 2,164,446 S/ 7,956,783
750 S/ 2,164,446 S/ 1,022,078
751 S/ 2,164,446 S/ 5,644,773
752 S/ 2,164,446 S/ 3,419,649
753 S/ 2,164,446 S/ 7,116,664
754 S/ 2,164,446 S/ 4,687,127
755 S/ 2,164,446 S/ 5,188,871
756 S/ 2,164,446 S/ 6,015,840
757 S/ 2,164,446 S/ 9,321,241
758 S/ 2,164,446 S/ 1,613,575
759 S/ 2,164,446 -S/ 1,652,126
760 S/ 2,164,446 S/ 1,444,720
761 S/ 2,164,446 S/ 5,363,510
762 S/ 2,164,446 -S/ 2,123,179
763 S/ 2,164,446 S/ 5,473,945
764 S/ 2,164,446 S/ 2,464,259
765 S/ 2,164,446 S/ 2,762,623
766 S/ 2,164,446 S/ 118,023
767 S/ 2,164,446 S/ 2,057,552
768 S/ 2,164,446 S/ 1,897,019
769 S/ 2,164,446 S/ 856,793
770 S/ 2,164,446 S/ 192,882
771 S/ 2,164,446 S/ 5,011,076
772 S/ 2,164,446 -S/ 2,996,684
773 S/ 2,164,446 S/ 6,552,668
774 S/ 2,164,446 S/ 6,168,651
775 S/ 2,164,446 S/ 4,897,694
776 S/ 2,164,446 S/ 2,188,143
777 S/ 2,164,446 -S/ 28,052
778 S/ 2,164,446 S/ 2,691,123
779 S/ 2,164,446 S/ 2,366,253
780 S/ 2,164,446 S/ 4,255,053
781 S/ 2,164,446 S/ 1,360,569
782 S/ 2,164,446 S/ 7,231,623
783 S/ 2,164,446 S/ 594,329
784 S/ 2,164,446 S/ 1,764,861
785 S/ 2,164,446 S/ 6,208,740
786 S/ 2,164,446 S/ 3,260,194
787 S/ 2,164,446 S/ 4,080,413
788 S/ 2,164,446 -S/ 1,762,857
789 S/ 2,164,446 S/ 2,262,733
790 S/ 2,164,446 -S/ 237,516
791 S/ 2,164,446 S/ 3,579,800
792 S/ 2,164,446 -S/ 2,488,160
793 S/ 2,164,446 -S/ 1,531,705
794 S/ 2,164,446 S/ 680,205
795 S/ 2,164,446 S/ 1,013,294
796 S/ 2,164,446 S/ 2,035,775
797 S/ 2,164,446 -S/ 41,306
798 S/ 2,164,446 S/ 1,694,398
799 S/ 2,164,446 -S/ 4,264,590
800 S/ 2,164,446 S/ 4,455,388
801 S/ 2,164,446 S/ 3,625,540
802 S/ 2,164,446 S/ 2,089,083
803 S/ 2,164,446 S/ 1,232,762
804 S/ 2,164,446 -S/ 627,400
805 S/ 2,164,446 S/ 898,712
806 S/ 2,164,446 -S/ 685,043
807 S/ 2,164,446 S/ 1,482,724
808 S/ 2,164,446 S/ 1,942,631
809 S/ 2,164,446 S/ 3,192,908
810 S/ 2,164,446 -S/ 400,990
811 S/ 2,164,446 S/ 8,585,230
812 S/ 2,164,446 S/ 4,313,857
813 S/ 2,164,446 S/ 5,863,903
814 S/ 2,164,446 S/ 9,318,657
815 S/ 2,164,446 S/ 4,698,886
816 S/ 2,164,446 S/ 991,377
817 S/ 2,164,446 S/ 3,548,732
818 S/ 2,164,446 S/ 3,417,328
819 S/ 2,164,446 S/ 2,460,929
820 S/ 2,164,446 S/ 3,650,638
821 S/ 2,164,446 -S/ 1,903,605
822 S/ 2,164,446 S/ 4,457,072
823 S/ 2,164,446 S/ 2,364,124
824 S/ 2,164,446 S/ 3,419,197
825 S/ 2,164,446 S/ 2,686,406
826 S/ 2,164,446 -S/ 1,856,479
827 S/ 2,164,446 S/ 1,537,838
828 S/ 2,164,446 S/ 5,765,554
829 S/ 2,164,446 S/ 7,053,239
830 S/ 2,164,446 S/ 755,657
831 S/ 2,164,446 S/ 1,323,698
832 S/ 2,164,446 S/ 2,344,252
833 S/ 2,164,446 S/ 4,067,751
834 S/ 2,164,446 -S/ 135,382
835 S/ 2,164,446 S/ 5,980,567
836 S/ 2,164,446 S/ 4,442,655
837 S/ 2,164,446 S/ 351,225
838 S/ 2,164,446 S/ 5,684,896
839 S/ 2,164,446 S/ 3,433,257
840 S/ 2,164,446 S/ 4,062,838
841 S/ 2,164,446 S/ 5,185,646
842 S/ 2,164,446 -S/ 756,882
843 S/ 2,164,446 S/ 5,776,279
844 S/ 2,164,446 S/ 6,066,992
845 S/ 2,164,446 S/ 7,210,244
846 S/ 2,164,446 -S/ 2,617,253
847 S/ 2,164,446 S/ 5,189,881
848 S/ 2,164,446 -S/ 777,880
849 S/ 2,164,446 S/ 7,475,681
850 S/ 2,164,446 S/ 53,663
851 S/ 2,164,446 S/ 3,108,855
852 S/ 2,164,446 S/ 549,857
853 S/ 2,164,446 S/ 2,182,885
854 S/ 2,164,446 S/ 1,081,902
855 S/ 2,164,446 S/ 764,802
856 S/ 2,164,446 S/ 5,382,059
857 S/ 2,164,446 S/ 3,704,487
858 S/ 2,164,446 S/ 3,509,498
859 S/ 2,164,446 S/ 834,930
860 S/ 2,164,446 S/ 2,459,775
861 S/ 2,164,446 S/ 884,496
862 S/ 2,164,446 S/ 3,396,194
863 S/ 2,164,446 S/ 2,647,537
864 S/ 2,164,446 -S/ 437,315
865 S/ 2,164,446 -S/ 682,199
866 S/ 2,164,446 S/ 601,303
867 S/ 2,164,446 -S/ 490,550
868 S/ 2,164,446 S/ 1,674,954
869 S/ 2,164,446 S/ 4,255,672
870 S/ 2,164,446 S/ 1,793,039
871 S/ 2,164,446 S/ 2,795,571
872 S/ 2,164,446 S/ 1,981,009
873 S/ 2,164,446 -S/ 1,510,654
874 S/ 2,164,446 S/ 34,325
875 S/ 2,164,446 S/ 303,148
876 S/ 2,164,446 S/ 5,866,851
877 S/ 2,164,446 S/ 1,280,957
878 S/ 2,164,446 S/ 2,707,012
879 S/ 2,164,446 S/ 3,564,727
880 S/ 2,164,446 S/ 127,585
881 S/ 2,164,446 S/ 1,084,458
882 S/ 2,164,446 S/ 662,155
883 S/ 2,164,446 S/ 1,630,003
884 S/ 2,164,446 S/ 2,903,803
885 S/ 2,164,446 S/ 678,687
886 S/ 2,164,446 S/ 10,585,861
887 S/ 2,164,446 S/ 3,070,385
888 S/ 2,164,446 S/ 4,624,616
889 S/ 2,164,446 S/ 6,481,448
890 S/ 2,164,446 S/ 4,586,142
891 S/ 2,164,446 S/ 1,171,528
892 S/ 2,164,446 S/ 3,114,053
893 S/ 2,164,446 S/ 7,913,815
894 S/ 2,164,446 S/ 6,005,595
895 S/ 2,164,446 S/ 566,229
896 S/ 2,164,446 S/ 3,701,645
897 S/ 2,164,446 S/ 4,332,928
898 S/ 2,164,446 S/ 3,996,926
899 S/ 2,164,446 -S/ 2,078,433
900 S/ 2,164,446 S/ 5,213,870
901 S/ 2,164,446 S/ 2,242,000
902 S/ 2,164,446 S/ 2,362,118
903 S/ 2,164,446 S/ 1,645,108
904 S/ 2,164,446 S/ 138,050
905 S/ 2,164,446 S/ 2,430,035
906 S/ 2,164,446 S/ 3,131,127
907 S/ 2,164,446 S/ 589,762
908 S/ 2,164,446 S/ 1,075,838
909 S/ 2,164,446 S/ 2,090,210
910 S/ 2,164,446 S/ 656,414
911 S/ 2,164,446 S/ 6,165,168
912 S/ 2,164,446 S/ 5,118,880
913 S/ 2,164,446 S/ 1,475,701
914 S/ 2,164,446 S/ 4,638,793
915 S/ 2,164,446 S/ 384,832
916 S/ 2,164,446 S/ 799,469
917 S/ 2,164,446 S/ 5,617,376
918 S/ 2,164,446 S/ 2,525,014
919 S/ 2,164,446 S/ 4,738,945
920 S/ 2,164,446 S/ 3,272,204
921 S/ 2,164,446 S/ 3,884,507
922 S/ 2,164,446 S/ 2,010,163
923 S/ 2,164,446 S/ 3,000,303
924 S/ 2,164,446 S/ 528,087
925 S/ 2,164,446 S/ 1,230,812
926 S/ 2,164,446 -S/ 813,058
927 S/ 2,164,446 S/ 2,554,664
928 S/ 2,164,446 S/ 4,501,848
929 S/ 2,164,446 S/ 3,715,596
930 S/ 2,164,446 S/ 2,813,820
931 S/ 2,164,446 S/ 3,716,198
932 S/ 2,164,446 S/ 2,470,474
933 S/ 2,164,446 S/ 1,865,672
934 S/ 2,164,446 -S/ 277,904
935 S/ 2,164,446 S/ 6,067,783
936 S/ 2,164,446 S/ 4,822,607
937 S/ 2,164,446 S/ 2,547,065
938 S/ 2,164,446 S/ 1,250,746
939 S/ 2,164,446 S/ 3,050,785
940 S/ 2,164,446 -S/ 127,834
941 S/ 2,164,446 S/ 9,977,441
942 S/ 2,164,446 S/ 4,028,194
943 S/ 2,164,446 S/ 6,524,445
944 S/ 2,164,446 S/ 4,723,947
945 S/ 2,164,446 -S/ 766,787
946 S/ 2,164,446 S/ 1,910,142
947 S/ 2,164,446 -S/ 552,613
948 S/ 2,164,446 S/ 1,321,392
949 S/ 2,164,446 S/ 3,986,502
950 S/ 2,164,446 S/ 1,768,499
951 S/ 2,164,446 S/ 1,902,015
952 S/ 2,164,446 S/ 4,748,611
953 S/ 2,164,446 -S/ 1,518,973
954 S/ 2,164,446 S/ 5,420,096
955 S/ 2,164,446 -S/ 1,095,398
956 S/ 2,164,446 S/ 2,899,941
957 S/ 2,164,446 -S/ 1,113,327
958 S/ 2,164,446 S/ 6,113,527
959 S/ 2,164,446 S/ 8,579,842
960 S/ 2,164,446 S/ 982,725
961 S/ 2,164,446 S/ 6,204,899
962 S/ 2,164,446 S/ 4,580,601
963 S/ 2,164,446 S/ 2,353,797
964 S/ 2,164,446 S/ 1,423,794
965 S/ 2,164,446 S/ 3,358,354
966 S/ 2,164,446 S/ 7,888,726
967 S/ 2,164,446 S/ 1,160,766
968 S/ 2,164,446 S/ 2,182,620
969 S/ 2,164,446 S/ 3,325,150
970 S/ 2,164,446 -S/ 1,460,064
971 S/ 2,164,446 S/ 1,376,941
972 S/ 2,164,446 S/ 6,967,628
973 S/ 2,164,446 S/ 893,650
974 S/ 2,164,446 S/ 6,034,927
975 S/ 2,164,446 S/ 10,699,072
976 S/ 2,164,446 -S/ 692,603
977 S/ 2,164,446 S/ 1,576,058
978 S/ 2,164,446 S/ 2,591,095
979 S/ 2,164,446 -S/ 100,119
980 S/ 2,164,446 S/ 3,525,310
981 S/ 2,164,446 S/ 5,118,599
982 S/ 2,164,446 -S/ 365,844
983 S/ 2,164,446 S/ 3,265,360
984 S/ 2,164,446 -S/ 2,620,355
985 S/ 2,164,446 S/ 3,127,730
986 S/ 2,164,446 S/ 1,268,634
987 S/ 2,164,446 S/ 6,022,470
988 S/ 2,164,446 S/ 4,346,413
989 S/ 2,164,446 S/ 761,821
990 S/ 2,164,446 S/ 93,952
991 S/ 2,164,446 S/ 1,150,587
992 S/ 2,164,446 S/ 3,494,951
993 S/ 2,164,446 -S/ 1,539,193
994 S/ 2,164,446 S/ 3,537,458
995 S/ 2,164,446 S/ 1,087,596
996 S/ 2,164,446 S/ 2,598,038
997 S/ 2,164,446 S/ 4,173,386
998 S/ 2,164,446 S/ 2,344,816
999 S/ 2,164,446 -S/ 160,655
1000 S/ 2,164,446 S/ 2,616,307
4 5
S/ 31,955,673 S/ 41,470,249
S/ 22,752,439 S/ 29,526,817
S/ 9,203,234 S/ 11,943,432
S/ 685,362 S/ 685,362
S/ 894,759 S/ 1,161,167
S/ 2,848,176 S/ 3,297,888
S/ 2,848,404 S/ 3,298,152
S/ 594,376 S/ 771,347
S/ 1,332,157 S/ 2,729,516
S/ 555,393 S/ 651,393
S/ 776,765 S/ 2,078,123
S/ 229,146 S/ 613,046
S/ 555,393 S/ 651,393
S/ 1,103,012 S/ 2,116,470
S/ 480,000 S/ 480,000
S/ 615,327 S/ 0
S/ 840,000
S/ 2,681,964
S/ 7,685 S/ 5,158,434

S/ 3,256,963 S/ 3,736,963

S/ 392,815 S/ 0
S/ 4,212,493 S/ 0
S/ 1,923,344 S/ 0
S/ 2,681,964 S/ 0

Al 95% de Confianza
¿probabilidad <=0?
S/.2,602,692
S/.81,307 Resultado Zeta Probabilidad
S/.2,553,728 S/.0 - 1.012 15.6% Probabilidad de que el resultado sea menor de
#N/A
S/.2,571,162 Estandarizando el número
### Zeta = (resultado - media) / desviación estándar
S/.0
S/.0
S/.16,549,757 ¿probabilidad >=1MM?
-S/.5,495,225
S/.11,054,532 Resultado Zeta Probabilidad
### S/.1,000,000 - 0.623 26.7% Probabilidad de que el resultado sea menor de
1,000 73.3% Probabilidad de que el resultado sea mayor de
S/.159,553

Al 68% de Confianza
¿probabilidad <=0?
S/.2,602,692
S/.81,307 Resultado Zeta Probabilidad
S/.2,553,728 S/.0 - 1.012 15.6% Probabilidad de que el resultado sea menor de
#N/A
S/.2,571,162 Estandarizando el número
### Zeta = (resultado - media) / desviación estándar
S/.0
S/.0
S/.16,549,757 ¿probabilidad >=1MM?
-S/.5,495,225
S/.11,054,532 Resultado Zeta Probabilidad
### S/.1,000,000 - 0.623 26.7% Probabilidad de que el resultado sea menor de
1,000 73.3% Probabilidad de que el resultado sea mayor de
S/.80,897
el resultado sea menor de 00

el resultado sea menor de 1MM


el resultado sea mayor de 1MM
el resultado sea menor de 00

el resultado sea menor de 1MM


el resultado sea mayor de 1MM
Por tienda
1.      ¿Cuánto vale una tienda?
El valor promedio de una tienda sería de S/136,809; considerando que recién se pone en operación en el periodo uno (
2022) con inversión en CAPEX y KdW en periodo 0 (año 2021).

2.      Determinación de variables criticas


Las variables críticas que se encontraron y por las cuales se realizó el análisis de sensibilidad serían # de tickets y el valo
ticket promedio.

3.      Determinación de puntos críticos


En el análisis de sensibilidad realizado a las variables críticas se determinó lo siguiente:
- El punto crítico para los tickets promedios es de 1,731 tickets mensuales por tienda.
- El punto crítico para los tickets promedio es de 69 soles por ticket.
En ambos casos, lo que se evidencia con dichos valores es que el VAN sea de 00, por lo cual no se obtiene beneficio, ni
pérdida para los inversores.

4.      Propuesta base de financiamiento por tienda (fcf y ecf)


Capacidad de pago
Ratio Cobertura = EBITDA / intereses =12.5

EBITDA S/.80,961
Cobertura 12.5 AAA
Intereses que podriamos pagar S/.6,477
Tasa del Banco 8.00%
Prestamo S/.80,961

Flujo de caja de patrimonio

+ Flujo de caja libre -S/.280,374 S/.73,740 S/.84,891 S/.91,860 S/.96,628 S/.276,469


+ Desembolsos S/.80,961
- intereses -S/.6,477 -S/.5,373 -S/.4,180 -S/.2,893 -S/.1,502
- amortizaciones -S/.13,800 -S/.14,904 -S/.16,097 -S/.17,384 -S/.18,775
+ escudo tributario de los intereses S/.1,911 S/.1,585 S/.1,233 S/.853 S/.443
Flujo de caja de patrimonio -S/.199,413 S/.55,374 S/.66,198 S/.72,816 S/.77,204 S/.256,635

TIR 32.35% rentabilidad de los accionistas

Cronograma de pago con cuotas fijas


Saldo Interes Amortizacion Cuota
0 S/.80,961
1 S/.67,160 S/.6,477 S/.13,800 S/.20,277
2 S/.52,256 S/.5,373 S/.14,904 S/.20,277
3 S/.36,160 S/.4,180 S/.16,097 S/.20,277
4 S/.18,775 S/.2,893 S/.17,384 S/.20,277
5 S/.0 S/.1,502 S/.18,775 S/.20,277

Para la empresa
1.      ¿Cuánto vale la empresa?
El valor de la empresa sería de S/2'595,154.
El valor de la empresa sería de S/2'595,154.

2.      Realice un análisis de riesgo completo (sensibilidad, escenarios, aleatorio probabilístico)

1) Análisis de sensibilidad: 1 variable 2) Análisis de escenarios: 2 o más variables


Valor TIR IR
S/ 2,595,154 62 72 82 9
S/ 2,595,154 44.4% 3.35
1,065 -S/ 5,119,675 #¡NUM! -8.37 1,065 -S/ 6,995,598 -S/ 5,848,946 -S/ 4,702,294 -S/ 3
1,265 -S/ 3,432,320 -41.04% -4.14 1,265 -S/ 5,660,529 -S/ 4,298,543 -S/ 2,936,557 -S/ 1
1,465 -S/ 1,744,965 -13.27% -1.21 1,465 -S/ 4,325,460 -S/ 2,748,140 -S/ 1,170,820 S/
1,672 S/ 0 12.00% 1.00 1,521 -S/ 3,948,759 -S/ 2,310,681 -S/ 672,603 S/
1,865 S/ 1,629,746 33.04% 2.58 1,865 -S/ 1,655,321 S/ 352,666 S/ 2,360,653 S/ 4
2,065 S/ 3,317,101 52.33% 3.87
2,065 -S/ 320,252 S/ 1,903,069 S/ 4,126,389 S/ 6
2,265 S/ 5,004,456 69.24% 4.92
2,465 S/ 6,691,811 84.00% 5.79 2,265 S/ 1,014,817 S/ 3,453,472 S/ 5,892,126 S/ 8
2,665 S/ 8,379,166 96.89% 6.51 2,465 S/ 2,349,886 S/ 5,003,874 S/ 7,657,863 S/ 10
2,665 S/ 3,684,955 S/ 6,554,277 S/ 9,423,599 S/ 12
Valor TIR IR
S/ 2,595,154 44.4% 3.35
62 -S/ 891,471 -0.5% - 0.05
66 S/ 0 12.0% 1.00
82 S/ 3,370,906 52.9% 3.91
92 S/ 5,502,095 73.8% 5.19
102 S/ 7,633,284 91.4% 6.21

3) Aleatorio probabilístico
Al 95% de Confianza
¿probabilidad <=0?
Media S/.2,602,692
Error típico S/.81,307 Resultado Zeta Probabilidad
Mediana S/.2,553,728 S/.0 - 1.012 15.6% Probabilidad de que el resultado sea menor de 00
Moda #N/D
Desviación estándar
S/.2,571,162 Estandarizando el número
Varianza de la muestra
########### Zeta = (resultado - media) / desviación estándar
Curtosis S/.0
Coeficiente de asimetría S/.0
Rango S/.16,549,757 ¿probabilidad >=1MM?
Mínimo -S/.5,495,225
Máximo S/.11,054,532 Resultado Zeta Probabilidad
Suma ########### S/.1,000,000 - 0.623 26.7% Probabilidad de que el resultado sea menor de 1MM
Cuenta 1,000 73.3% Probabilidad de que el resultado sea mayor de 1MM
Nivel de confianza(95.0%)
S/.159,553

3.      Determinación de variables y punto críticos de las variables

Las variables críticas que se encontraron y por las cuales se realizó el análisis de sensibilidad serían # de tickets y el valo
ticket promedio.
En el análisis de sensibilidad realizado a las variables críticas se determinó lo siguiente:
- El punto crítico para los tickets promedios es de 1,672 tickets mensuales por tienda.
- El punto crítico para los tickets promedio es de 66 soles por ticket.
En ambos casos, lo que se evidencia con dichos valores es que el VAN sea de 00, por lo cual no se obtiene beneficio, ni
pérdida para los inversores.

4.      ¿Cuál es el rango de valor al 68% y al 95% de confianza?


El valor para nivel de confianza al 95% es de 159,553; mientras que para 68% es de 80,897.

5.      Determine un plan de financiamiento


Capacidad de pago
Ratio Cobertura = EBITDA / intereses =12.5

EBITDA S/.809,607
Cobertura 12.5 AAA
Intereses que podriamos pagar S/.64,769
Tasa del Banco 8.00%
Prestamo S/.809,607

Flujo de caja de patrimonio

+ Flujo de caja libre -S/.1,102,681 -S/.191,467 S/.153,039 S/.497,545 S/.842,051 S


+ Desembolsos S/.809,607
- intereses -S/.64,769 -S/.53,728 -S/.41,805 -S/.28,928
- amortizaciones -S/.138,003 -S/.149,043 -S/.160,966 -S/.173,844
+ escudo tributario de los intereses S/.19,107 S/.15,850 S/.12,332 S/.8,534
Flujo de caja de patrimonio -S/.293,073 -S/.375,132 -S/.33,883 S/.307,106 S/.647,813 S

TIR 66.37% rentabilidad de los accionistas

Cronograma de pago con cuotas fijas


Saldo Interes Amortizacion Cuota
0 S/.809,607
1 S/.671,604 S/.64,769 S/.138,003 S/.202,771
2 S/.522,561 S/.53,728 S/.149,043 S/.202,771
3 S/.361,595 S/.41,805 S/.160,966 S/.202,771
4 S/.187,751 S/.28,928 S/.173,844 S/.202,771
5 S/.0 S/.15,020 S/.187,751 S/.202,771
one en operación en el periodo uno (año

nsibilidad serían # de tickets y el valor del

ente:
da.

or lo cual no se obtiene beneficio, ni

S/.96,628 S/.276,469

-S/.2,893 -S/.1,502
-S/.17,384 -S/.18,775
S/.853 S/.443
S/.77,204 S/.256,635
: 2 o más variables
72 82 92 102
5,598 -S/ 5,848,946 -S/ 4,702,294 -S/ 3,555,641 -S/ 2,408,989
0,529 -S/ 4,298,543 -S/ 2,936,557 -S/ 1,574,571 -S/ 212,585
5,460 -S/ 2,748,140 -S/ 1,170,820 S/ 406,499 S/ 1,983,819
8,759 -S/ 2,310,681 -S/ 672,603 S/ 965,475 S/ 2,603,553
5,321 S/ 352,666 S/ 2,360,653 S/ 4,368,640 S/ 6,376,627
0,252 S/ 1,903,069 S/ 4,126,389 S/ 6,349,710 S/ 8,573,031
4,817 S/ 3,453,472 S/ 5,892,126 S/ 8,330,781 S/ 10,769,435
9,886 S/ 5,003,874 S/ 7,657,863 S/ 10,311,851 S/ 12,965,839
4,955 S/ 6,554,277 S/ 9,423,599 S/ 12,292,921 S/ 15,162,243

Al 68% de Confianza
¿probabilidad <=0?
Media S/.2,602,692
Error típico S/.81,307 Resultado Zeta Probabilidad
e el resultado sea menor de 00 Mediana S/.2,553,728 S/.0 - 1.012 15.6% Probabilidad de que el resultado sea menor de 0
Moda #N/D
Desviación estándar
S/.2,571,162 Estandarizando el número
Varianza de la muestra
########### Zeta = (resultado - media) / desviación estándar
Curtosis S/.0
Coeficiente de asimetría S/.0
Rango S/.16,549,757 ¿probabilidad >=1MM?
Mínimo -S/.5,495,225
Máximo S/.11,054,532 Resultado Zeta Probabilidad
e el resultado sea menor de 1MM Suma ########### S/.1,000,000 - 0.623 26.7% Probabilidad de que el resultado sea menor de 1
e el resultado sea mayor de 1MM Cuenta 1,000 73.3% Probabilidad de que el resultado sea mayor de 1M
Nivel de confianza(68.0%)
S/.80,897

nsibilidad serían # de tickets y el valor del

ente:
da.

or lo cual no se obtiene beneficio, ni

e 80,897.
9 S/.497,545 S/.842,051 S/.5,035,900

8 -S/.41,805 -S/.28,928 -S/.15,020


43 -S/.160,966 -S/.173,844 -S/.187,751
0 S/.12,332 S/.8,534 S/.4,431
3 S/.307,106 S/.647,813 S/.4,837,560

n Cuota

3 S/.202,771
3 S/.202,771
6 S/.202,771
4 S/.202,771
1 S/.202,771
obabilidad de que el resultado sea menor de 00

obabilidad de que el resultado sea menor de 1MM


obabilidad de que el resultado sea mayor de 1MM

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