链剥科经降《多大号 公司理财 B.9-3 per cent C.10-4 per cent D.114 per cent 2.Cheshire Ltd has developed a revolutionary form of tyre gauge at a cost of $300,000 to date. To produce the tyre gauge,a new machine will be acquired immediately at a cost of $750,000. The machine will be sold at the end of the five years for $350,000 and will be depreciated over its life using the straight-line method. The tyre gauge has an expected life of five years and estimated future profits from the product are: Years 1 3 45 $000$000$000$0008000 Estimated profit 80 160 240 140 130 What is the payback period for the new tyre gauge?(To the nearest month) A.3 years 2 months B.4 years 2 months C.4 years 3 months D.4 years 11 months 3.Cumbria Ltd has $1 ordinary shares in issue that have a current market value of $3.The dividend expected for next year is $0.40 and future dividends are expected to grow at the rate of 5 per cent per annum.The rate of corporation tax is 20 per cent and the dividend Growth model is used to calculate the cost of ordinary shares. What is the cost of ordinary shares to the business? A.61% B.157% C.183% D.190% 4.Calcite Ltd used the NPV and IRR methods of investment appraisal to evaluate a project that has an initial cash outlay followed by annual net cash inflows over its life.After the evaluation 第2页共14页公司理财 B. 9·3 per cent C. 10·4 per cent D. 11·4 per cent 2. Cheshire Ltd has developed a revolutionary form of tyre gauge at a cost of $300,000 to date. To produce the tyre gauge, a new machine will be acquired immediately at a cost of $750,000. The machine will be sold at the end of the five years for $350,000 and will be depreciated over its life using the straight-line method. The tyre gauge has an expected life of five years and estimated future profits from the product are: Years 1 2 3 4 5 $000 $000 $000 $000 $000 Estimated profit 80 160 240 140 130 What is the payback period for the new tyre gauge? (To the nearest month) A. 3 years 2 months B. 4 years 2 months C. 4 years 3 months D. 4 years 11 months 3. Cumbria Ltd has $1 ordinary shares in issue that have a current market value of $3. The dividend expected for next year is $0·40 and future dividends are expected to grow at the rate of 5 per cent per annum. The rate of corporation tax is 20 per cent and the dividend Growth model is used to calculate the cost of ordinary shares. What is the cost of ordinary shares to the business? A. 6·1% B. 15·7% C. 18·3% D. 19·0% 4. Calcite Ltd used the NPV and IRR methods of investment appraisal to evaluate a project that has an initial cash outlay followed by annual net cash inflows over its life. After the evaluation 第 2 页 共 14 页