TUTORIAL MINEO a

expenditure
capital
←

Depresiasi
603--0
tahunah mil
Y
= = = 20

Taxable income = 200 -140 -20 =

40 mil

I
taxable income Sama tiaptahun yaitu 40mi
 a) 9500

A : 4000
4 4000
T T T q q

-
¥000
15.000 =
4000 CHAI i 8) t 4500 (PIF it , 5)

trig i =
15%
15.000 7- 4000 (3/352) 1- 45006014972)
7- ☒ 3- 408 1- 2237
¥ 15 .
645

try i = 18%
15 -000 7- 4000 ( 3,127) t 4500 ( 014371 )
=? 14 475 .

RRBT
15%+3%1 ¥%¥¥;;-) 16 ' > %
' = =
 b) depresiasi =

B, 15.0005--4500
= =
2100 /year

taxable
year Before tax CF depresiasi 34% income After tax
income CF
taxes
0 -

15.000 -15-000

I 4000 2100 1900 -

646 3354

2 4000 2100 1900 -

646 3354

3 4000 2100 1900 -646 3354

4 4000 2100 1900 -646 3354

2100 1900 -646

{
4000
{ 4500
5 3354
4500

Taxable income __
annual profit -

depresiosi
=
4000 -
-2100 34% asumsidari corporate

income tax rates

=
1900
34% income taxes =
1900 ✗ 34%

= 646

after tax CF = 4000-696

= 3354
=

> Cari IRR dari cfsetelah tax

o

try i =
10% =D 15000 -73354 (PIA 10%15 ) -14500 ( F/A 10% 5)
,
/ .

15000=715.509
try i =l2% =D 15000--73354 CPIA , 12% 5) +450041A 12%5)
,
'

15000=7 ,
14,644

10%+2%(15509-15000)=11-1
IRRAT = %

15509-14644
Inventory bukanasctygdikenaidepresiasi
year Before tax Taxable 39% income After tax
CF income taxes CF

0 -20-000 -20-000

I 1000 1000 -390 610

2 1500 1500 -585 915

3 2000 2000 1220
-780

4
{
2500 -975 1525
{
2500

20-000
20-000

a) 20.000=1000 (Plaia) -18000467%471-20.000 CPIF.int)

try -1--89 .

20.000=7.1000 (PlAc8%4) -1500415,8%47+20-000041=8%-4)

20.000 20.337
tryi = 10%

20.000710001pA " 10% / 4) +500/8,10%14) -120 -000pA > 10% 4)

,

20-000=7 ,
19.019

IRRBT =

8%-12%(20.33720-000) 20-337-19.019
=
85%
=
 6-radich Sebelum tax 500
b)
=

Gradin setelah tax =

(1-013911500) = 305

20-000 = 610 (PIA it 4) , -1 305 (PIE ii. 4) -120-000 (Pftri 4)

,

try -1--5 %
20-000 # 610 (3 , 546 ) -1 308151103) -1 20-000 (or 8227)

20 -000 F- 20173

try i ⇐ 6%
20-000 610 (3-465)-1 30014,4945) -1 20-000 (0/7921)
20-000 19.309

5%-11%(20.173-20000)
IRRAT =

20.173
-
19304

%
=
5-1
 market rate Ci )= 5,5% i' ?=

inflation rate (f) =

2%

ft (E) (f)
'

i = i +

i -

f = i 'll + f)
'
i =
Li f) / ( Itf )
-

=
(01055-0102)/(11-0102)
= Or 034
= 314% per tahun

Tika inflation rate = 8%

i' =
(i f) Ht f)
-

= (0,055 -

008)/(1+008)
=
-0,023

=
-
213% per tahun
lnrestasi 1- 5- tahvn = 0.10 1- 0,050 -1 (Oslo) ( 01050) =
Or 1150=11,5-0%1tnn

Investasi 6-8th =
Or 10 + 00751-(0107100-75)=01825--18,25 %/th
lnvestasi g- 13th =
0-10+010301-10,10)(Or 0303--01330=13,3%1 th