阿摩線上測驗 登入

最新科目

最新試卷

最新試題

最新申論題

8. (15 points) Petroleum Inc. (PI) controls off-shore oil leases. It is considering the construction of a deep-sea oil rig at a cost of $500 million. The price of oil is $100/bbl. and extraction costs are $50/bbl. PI expects costs to remain constant. The rig will produce an estimated 1,200,000 bbl. per year forever. The risk-free rate is 10 percent per year, which is also the cost of capital. (Ignore taxes). Suppose that oil prices are uncertain and are equally likely to be $120/bbl. or $80/bbl. next year. Suppose that PI has the option to postpone the project by one year. Calculate the value of the real option to postpone the project for one year.

7. (10 points) The Solar Calculator Company plans to invest $5 million into a new factory that makes calculators. $2 million is spent annually on fixed costs. A solar calculator is produced for $5 per unit and sells for $20. What is the yearly sales level at which the factory will break even (i.e., NPV = 0) if it operates for three years and the cost of capital is 12 percent? (Assume that income and expenses occur at the year's end. Assume no taxes.)

6. (15 points) At time zero (t = 0), a project requires a $90,000 initial investment in equipment and a $10,000 initial investment in working capital. You anticipate that the project will generate revenues of $120,000 per year for three years. You predict that manufacturing expenses will account for 60% of revenues. Assume that all income and expenses (i.e., t = 1, t = 2, and t = 3) occur at year's end. Over the three-year period, the equipment depreciates utilizing straight-line depreciation. The company can sell the equipment for \$10,000 at the end of the project and recover its investment in net working capital. The cost of capital is 15%, and the corporation tax rate is 21%. Calculate the project's NPV.

最新課程

最新主題筆記

最新討論

13. 證券化商品還本付息的主要來源為何? (A)標的資產產生的現金流量 (B)創始機構的還款 (C)受託機構的還款 (D)服務機構的還款

50. 有關在宅瀕死的照顧,下列何者不適宜? (A)聽從案家的意見不再照顧 (B)繼續緩解疼痛與不適 (C)協助案家接納死亡來臨的事實 (D)鼓勵臨終者發表心中的疑慮並協助解決與支持 。

51. 有關長期照顧機構的安全管理,何者為適切的? (A)案主在機構內發生的意外不必向案家說 (B)為保護案主的秘密,不應向主管報告發生了意外 (C)任何意外事故都應依規定報告 (D)意外事故的發生一定要懲罰當事者 。

52. 有關慢性病老人居家照顧的優點,下列何者不正確? (A)留在家裡可享受家庭溫暖 (B)被監視的感覺較低 (C)可預防與延遲入住機構的時間 (D)在成本效益分析上,居家式的照顧較機構式的照顧昂貴 。

30 某空間採用全區放射方式之第一種乾粉滅火設備(主成份為碳酸氫鈉)進行防護,則每立方公尺防護區域所需滅火藥劑量為多少 kg/m3?(A) 0.24 (B) 0.36 (C) 0.60 (D) 0.82

10 近年來常有大陸漁船越界捕撈,依據臺灣地區與大陸地區人民關係條例規定,大陸船舶未經許可進入臺灣地區限制或禁止水域,何者非主管機關得為之處置? (A)逕行驅離 (B)扣留其船舶、物品,留置其人員 (C)扣留之船舶、物品雖未涉及違法情事,仍得沒入 (D)留置之人員經調查後移送有關機關依法收容遣返或強制其出境