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"5:CI85 @0AE>4K ?> 3>40<: 3400 BKA. $ 2 1-9 3>4, A ?>A;54CNI8< ?@8@>AB>< 8E =0 3%. !B02:0 =0;>30 =0 ?@81K;L - 30%. !;>682H55AO D8=0=A>2>-E>7O9AB25==>5 ?>;>65=85 8=25AB>@0 B0:>2>, GB> :>MDD8F85=B @5=B015;L=>AB8 020=A8@>20==>3> :0?8B0;0 A>AB02;O; 21 - 22%, F5=0 020=A8@>20==>3> :0?8B0;0 - 19%. &5;5A>>1@075= ;8 40==K9 ?@>5:B : @50;870F88 ? -B0?K >F5=:8:1. 0AG5B 8AE>4=KE ?>:070B5;59 ?> 3>40<. 2. 0AG5B 0=0;8B8G5A:8E :>MDD8F85=B>2. 3. =0;87 :>MDD8F85=B>2. -B0? 1. 0AG5B 8AE>4=KE ?>:070B5;59 ?> 3>40< "01;8F0 1. 0AG5B 8AE>4=KE ?>:070B5;59 ?> 3>40< N>:070B5;8 (2 BKA. $)>4K1234511JQ< @50;870F88680074008200800050002"5:CI85 @0AE>4K3400350236073715382737=>A2000200020002000200040;>3>>1;0305<0O ?@81K;L (n1-n2-n3)140018982593228517350;>3 =0 ?@81K;L (n4 30%)420569778686526'8AB0O ?@81K;L (n4-n5)9801329181515991217'8ABK5 45=56=K5 ?>ABC?;5=8O (n3 +n6)29803329381535992121-B0? 2. 0AG5B 0=0;8B8G5A:8E :>MDD8F85=B>2: 0) @0AG5B G8AB>3> ?@82545==>3> MDD5:B0 ?@8 i = 19% ?> D>@<C;5  HYPERLINK "http://www.ssga.ru/AllMetodMaterial/metod_mat_for_ioot/metodichki/lobanova/metody.htm" \l "formula2" (2): NPV = 2980 0.84 + 33290.708 + 38150.593 + 35990.499 + + 21210.419 - 10000 = -198 BKA. $; 1) @0AG5B 8=45:A0 @5=B015;L=>AB8 40==>3> ?@>5:B0 ?> D>@<C;5  HYPERLINK "http://www.ssga.ru/AllMetodMaterial/metod_mat_for_ioot/metodichki/lobanova/metody.htm" \l "formula4" (4):  INCLUDEPICTURE "http://www.ssga.ru/AllMetodMaterial/metod_mat_for_ioot/metodichki/lobanova/risunki/r14.gif" \* MERGEFORMATINET  2) @0AG5B =>@<K @5=B015;L=>AB8 (NPV = 15% 8 NPV = 20% 0??@>:A8<8@C5<): IRR = 18.1%; 3) @0AG5B A@>:0 >:C?05<>AB8 ?@>5:B0:   = 3 3>40, B0: :0: (2980 + 3329 + 3845) > 10000, B.5. :C<C;OB82=0O AC<<0 G8ABKE 45=56=KE ?>ABC?;5=89 70 ?5@8>4 2 3 3>40 ?@52KH05B >1J5< :0?8B0;L=KE 2;>65=89; 4) @0AG5B :>MDD8F85=B0 MDD5:B82=>AB8 ?@>5:B0 ?> D>@<C;5  HYPERLINK "http://www.ssga.ru/AllMetodMaterial/metod_mat_for_ioot/metodichki/lobanova/rentabel.htm" \l "formula8" (5): >MDD8F85=B MDD5:B82=>AB8 8=25AB8F89 (ARR). 0AG5B ARR =5 ?@54?>;0305B 48A:>=B8@>20=85 ?>:070B5;59 4>E>40. >E>4 E0@0:B5@87C5BAO ?>:070B5;5< G8AB>9 ?@81K;8 , ?>;CG5==>9 2KG8B0=85< 87 10;0=A>2>9 ?@81K;8 >BG8A;5=89 2 1N465B. >MDD8F85=B MDD5:B82=>AB8 8=25AB8F89 ARR @0AAG8BK205BAO 45;5=85< 10;0=A>2>9 ?@81K;8 =0 A@54=NN 25;8G8=C 8=25AB8F89. !@54=OO 25;8G8=0 8=25AB8F89 ?>;CG05BAO 45;5=85< 8AE>4=>9 AC<<K :0?8B0;L=KE 2;>65=89 70 2KG5B>< >AB0B>G=>9 AB>8<>AB8 =0 420.  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