Impuesto a la renta 30%

Margen de costo de ventas

Año 0 1 2
Incremento en las ventas
Unidades vendidas
Valor de venta unitario
Ventas $4,003,734.00 $4,173,505.00
Costo de ventas -$1,136,301.00 -$1,193,066.00
Gastos de venta -$1,047,282.00 -$1,102,903.00
Gastos administrativos y de ventas -$436,787.00 -$527,986.00
Depreciación Máquina 1 -$222,027.00 -$222,223.00
Depreciación Máquina 2
Depreciación Local
UTILIDAD OPERATIVA $1,161,337.00 $1,127,327.00
UTILIDAD OPERATIVA AFTER TAX $818,742.59 $794,765.54
Crédito a clientes -$296,522.00 -$328,139.00 -$285,970.00
DIFERENCIAL -$31,617.00 -$254,353.00
Crédito de proveedores $352,270.00 $361,174.00 $438,516.00
DIFERENCIAL $8,904.00 $429,612.00
Depreciación Máquina 1 $222,027.00 $222,223.00
Depreciación Máquina 2
Depreciación Local
Alquiler rechazado

FCO $1,018,056.59 $1,192,247.54

Venta de receta rechazada

Máquina 1
Máquina 2
Capital de trabajo

FCI/FCLiq $0.00 $0.00 $0.00

FCL $0.00 $1,018,056.59 $1,192,247.54

Préstamo bancario $2,000,000.00 -$200,000.00 -$200,000.00

Intereses -$156,000.00 -$156,000.00
Escudo fiscal de intereses $46,020.00 $46,020.00

FCF $2,000,000.00 -$309,980.00 -$309,980.00

FCA $2,000,000.00 $708,076.58 $882,267.53

FC Deuda $2,000,000.00 -$356,000.00 -$356,000.00

TIR 12.14%

Pasivos financieros actuales

Costo de pasivos financieros actuales

Pasivos financieros totales

Costo de pasivos financieros totales

Patrimonio
Beta desapalancado
Rendimiento libre de riesgo
Rendimiento de mercado
Riesgo país
Inflación

Beta apalancado
CAPM

WACC

0 1 2
VA FCL
VAN FCL
TIR FCL

VA FCA
VAN FCA
TIR FCL

Período de recuperación descontado FCL

EVA FCL
 3 4 5 6 7

$4,483,993.00 $4,634,129.00 $5,022,009.00 $5,343,674.00 $5,709,588.00

-$1,282,163.00 -$1,322,882.00 -$1,360,521.00 -$1,367,670.00 -$1,497,118.00
-$1,061,232.00 -$1,077,216.00 -$1,101,442.00 -$936,302.00 -$951,029.00
-$549,692.00 -$905,598.00 -$537,425.00 -$440,609.00 -$370,448.00
-$239,324.00 -$284,341.00 -$264,016.00 -$260,716.00 -$272,485.00

$1,351,582.00 $1,044,092.00 $1,758,605.00 $2,338,377.00 $2,618,508.00

$952,865.31 $736,084.86 $1,239,816.53 $1,648,555.79 $1,846,048.14
-$281,881.00 -$231,816.00 -$295,589.00 -$215,493.00 -$198,501.00
-$27,528.00 -$204,288.00 -$91,301.00 -$124,192.00 -$74,309.00
$432,559.00 $469,184.00 $783,534.00 $1,014,222.00 $1,263,698.00
$2,947.00 $466,237.00 $317,297.00 $696,925.00 $566,773.00
$239,324.00 $284,341.00 $264,016.00 $260,716.00 $272,485.00

$1,167,608.31 $1,282,374.86 $1,729,828.53 $2,482,004.79 $2,610,997.14

$0.00 $0.00 $0.00 $0.00 $0.00

$1,167,608.31 $1,282,374.86 $1,729,828.53 $2,482,004.79 $2,610,997.14

-$200,000.00 -$200,000.00 -$200,000.00 -$200,000.00 -$200,000.00

-$156,000.00 -$156,000.00 -$156,000.00 -$156,000.00 -$156,000.00
$46,020.00 $46,020.00 $46,020.00 $46,020.00 $46,020.00

-$309,980.00 -$309,980.00 -$309,980.00 -$309,980.00 -$309,980.00

$857,628.31 $972,394.86 $1,419,848.52 $2,172,024.78 $2,301,017.14

-$356,000.00 -$356,000.00 -$356,000.00 -$356,000.00 -$356,000.00

3 4 5 6 7
 8 9 10 11

$4,314,745.00 $5,885,493.00 $6,743,109.00

-$1,315,706.00 -$2,030,170.00 -$2,457,245.00
-$887,669.00 -$1,062,762.00 -$1,182,907.00
-$383,397.00 -$479,107.00 -$463,740.00
-$285,508.00 -$301,838.00 -$328,997.00

$1,442,465.00 $2,011,616.00 $2,310,220.00

$1,016,937.83 $1,418,189.28 $1,628,705.10
-$116,837.00 -$136,380.00 -$93,083.00
-$42,528.00 -$93,852.00 $769.00
$1,328,398.00 $1,251,620.00 $1,494,033.00
$761,625.00 $489,995.00 $1,004,038.00
$285,508.00 $301,838.00 $328,997.00

$2,021,542.83 $2,116,170.28 $2,962,509.10 $0.00

$0.00 $0.00 $0.00 $0.00

$2,021,542.83 $2,116,170.28 $2,962,509.10 $0.00

-$200,000.00 -$200,000.00 -$200,000.00

-$156,000.00 -$156,000.00 -$156,000.00
$46,020.00 $46,020.00 $46,020.00

-$309,980.00 -$309,980.00 -$309,980.00

$1,711,562.82 $1,806,190.28 $2,652,529.10 $0.00

-$356,000.00 -$356,000.00 -$356,000.00

8 9 10 11