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Chapter 10 Making Capital Investment Decisions 1 McGraw­Hill/Irwin Copyright © 2013 by The McGraw­Hill Companies, Inc. All rights reserved. 1 Chapter Outline • Capital Budgeting and Cash Flows • Incremental Cash Flows • Pro Forma Financial Statements • Operating Cash Flows • Replacement Decisions • Discounted Cash Flow Analysis 1 0- 2 Chapter Outline • Capital Budgeting and Cash Flows • Incremental Cash Flows • Pro Forma Financial Statements • Operating Cash Flows • Replacement Decisions • Discounted Cash Flow Analysis 1 0- 3 Capital Budgeting and Cash Flows In the previous chapter we focused on multiple techniques of capital budgeting to evaluate projects. This chapter is all about how each of the cash flows (CF’s) are determined. 1 0- 4 Project Example - Visual R = 12% 1 2 3 $ -165,000 CF1 = CF2 = CF3 = 63,120 70,800 91,080 The required return for assets of this risk level 1 is 12% (as determined by the firm). 0- 5 ... - tailieumienphi.vn
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