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A Company Is Considering Purchasing an Asset for $50,000 That

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Essay

A company is considering purchasing an asset for $50,000 that would have a useful life of 8 years and would have a salvage value of $7,000. For tax purposes, the entire original cost of the asset would be depreciated over 8 years using the straight-line method and the salvage value would be ignored. The asset would generate annual net cash inflows of $18,000 throughout its useful life. The project would require additional working capital of $2,000, which would be released at the end of the project. The company's tax rate is 30% and its discount rate is 15%.
Required:
What is the net present value of the asset?


Definitions:

Prepaid Expense

Expenditures paid for in advance for goods or services to be received in the future, often including insurance premiums or rent.

Accounts Payable

Obligations or debts a company owes to its suppliers or vendors for products or services received.

Direct Method

A costing methodology that directly assigns specific costs to relevant objects without using allocation for indirect costs.

Cost Of Goods Sold

Costs directly related to the goods a company sells, covering both the materials' cost and the labor cost involved in making the product.

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