Q37. A profitable company is considering the replacement of old equipment used in the manufacturing process with new, more efficient equipment. An analyst gathered the following information about the old and now equipment? Old equipment: Original cost $40,000 Current book value 310,000 Current market value $15,000 Estimated salvage value in there years $2,500 Cost of new equipment (including freight and installation costs of $3,000) $83,000 Marginal tax rate for the company 40% Increase in net working capital required $5,500 If the new equipment is purchased, the old machine will be sold to another company. The initial (net) investment outlay for-the replacement project is closest to: A. $71,500 B. $ 73,000 C. $ 73,500 D. $ 75,500 答案和详解如下：
Q37. D 07 Modular Level 1, Vol. 3; PP.37-38 Study Session 11-47.b The initial outlay would include the items at t=0: Cost of equipment including freight and installation charges $83,000 Increase in NWC $5,500 Proceeds from sale of old machine $5,000 Tax liability from sale of old machine (15,000-10,000) ×0.4 $2,000 Initial investment outlay
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发表于 2007-11-5 19:14
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