銆婅病鍕�(w霉)绠＄悊銆�72閬撶稉(j墨ng)鍏镐緥椤�
鐎忚
鏀惰棌
1,鏌愪紒妤�(y猫)璩煎叆鍦嬪偟2500鎵�锛屾瘡鎵嬮潰鍊�1000鍏�锛岃卜鍏ュ児鏍�1008鍏�锛岃┎鍦嬪偟鏈熼檺鐐�5骞达紝骞村埄鐜囩偤6.5%锛堝柈鍒╋級锛屽墖鍒版湡浼佹キ(y猫)鍙嵅寰楁湰鍒╁拰鍏辩偤澶氬皯鍏冿紵
绛旓細F =P锛�1+i脳n锛�
=2500脳1000脳锛�1+6.5%脳5锛�
=2500000脳1.3250= 3312500锛堝厓锛�
2锛屾煇鍌靛埜閭勬湁3骞村埌鏈燂紝鍒版湡鐨勬湰鍒╁拰鐐�153.76鍏�锛岃┎鍌靛埜鐨勫勾鍒╃巼鐐�8%锛堝柈鍒╋級锛屽墖鐩墠鐨勫児鏍肩偤澶氬皯鍏�锛�
绛旓細P = F/锛�1+ i n锛�
=153.76 / 锛�1+8%脳3锛�
=153.76 / 1.24=124锛堝厓锛�
3锛屼紒妤�(y猫)鎶曡硣鏌愬熀閲戦爡鐩�锛屾姇鍏ラ噾椤嶇偤1锛�280锛�000鍏冿紝瑭插熀閲戦爡鐩殑鎶曡硣骞存敹鐩婄巼鐐�12%锛屾姇璩囩殑骞撮檺鐐�8骞达紝濡傛灉浼佹キ(y猫)涓€娆℃€у湪鏈€鍚庝竴骞存敹鍥炴姇璩囬鍙婃敹鐩�锛屽墖浼佹キ(y猫)鐨勬渶绲傚彲鏀跺洖澶氬皯璩囬噾锛�
绛旓細F =P锛團/P锛宨,n锛�
=1280000脳锛團/P,12%,8锛�
=1280000脳2.4760=3169280 锛� 鍏冿級
4锛屾煇浼佹キ(y猫)闇€瑕佸湪4骞村悗鏈�1锛�500锛�000鍏冪殑鐝�(xi脿n)閲�锛岀従(xi脿n)鍦ㄦ湁鏌愭姇璩囧熀閲戠殑骞存敹鐩婄巼鐐�18%锛屽鏋滐紝鐝�(xi脿n)鍦ㄤ紒妤�(y猫)鎶曡硣瑭插熀閲戞噳(y墨ng)鎶曞叆澶氬皯鍏�锛�
绛旓細P =F脳锛圥/F锛宨 ,n锛�
=1500000脳锛圥/F,18%,4锛�
=1500000脳0.5158=773700锛堝厓锛�
5锛屾煇浜哄弮鍔犱繚闅紝姣忓勾鎶曚繚閲戦鐐�2锛�400鍏冿紝鎶曚繚骞撮檺鐐�25骞�锛屽墖鍦ㄦ姇淇濇敹鐩婄巼鐐�8%鐨勬浠朵笅锛岋紙1锛夊鏋滄瘡骞村勾鏈敮浠樹繚闅噾25骞村悗鍙緱鍒板灏戠従(xi脿n)閲�锛燂紙2锛夊鏋滄瘡骞村勾鍒濇敮浠樹繚闅噾25骞村悗鍙緱鍒板灏戠従(xi脿n)閲�锛�
绛旓細锛�1锛塅 =A脳锛團/A锛宨 ,n锛�
=2400脳锛� F/A, 8%, 25锛�
=2400脳73.106=175454.40锛堝厓锛�
锛�2锛塅 =A脳[锛團/A锛宨 ,n+1锛�-1]
=2400脳[锛團/A锛�8%锛�25+1锛�-1]
=2400脳锛�79.954-1锛�=189489.60锛堝厓锛�
6锛屼紒妤�(y猫)鍚戠璩冨叕鍙歌瀺璩囩鍏ヨō(sh猫)鍌欎竴鑷猴紝绉熻硟鏈熼檺鐐�8骞�锛岃┎瑷�(sh猫)鍌欑殑璨峰児鐐�320锛�000鍏�锛岀璩冨叕鍙哥殑缍滃悎鐜囩偤16%锛屽墖浼佹キ(y猫)鍦ㄦ瘡骞寸殑骞存湯绛夐鏀粯鐨勭閲戠偤澶氬皯锛熷鏋滀紒妤�(y猫)鍦ㄦ瘡骞寸殑骞村垵鏀粯绉熼噾鏈夌偤澶氬皯锛�
绛旓細锛�1锛夋瘡骞村勾鏈敮浠樼閲�=P脳[1/锛圥/A 锛�16%锛�8锛塢
=320000脳[1 /锛� P/A锛�16%锛�8锛塢
=320000脳[ 1 / 4.3436]=73671.61锛堝厓锛�
锛�2锛� 姣忓勾骞村垵鏀粯绉熼噾=P 脳[1/锛圥/A锛宨 ,n-1锛�+1]
=320000脳[1/锛圥/A ,16%,8-1锛�+1]
=320000脳[1/锛�4.0386+1锛塢=63509.71锛堝厓锛�
7锛屾煇浜鸿臣璨峰晢鍝佹埧锛屾湁涓夌ó浠樻鏂瑰紡銆侫锛氭瘡骞村勾鍒濇敮浠樿臣鎴挎80锛�000鍏�锛岄€ｇ簩(x霉)鏀粯8骞淬€侭锛氬緸绗笁骞寸殑骞撮枊濮�锛屽湪姣忓勾鐨勫勾鏈敮浠樻埧娆�132锛�000鍏�锛岄€ｇ簩(x霉)鏀粯5骞淬€侰锛氱従(xi脿n)鍦ㄦ敮浠樻埧娆�100锛�000鍏�锛屼互鍚庡湪姣忓勾骞存湯鏀粯鎴挎90锛�000鍏冿紝閫ｇ簩(x霉)鏀粯6骞�銆傚湪甯傚牬璩囬噾鏀剁泭鐜囩偤14%鐨勬浠朵笅锛屾噳(y墨ng)瑭查伕鎿囦綍绋粯娆炬柟寮�锛�
绛旓細A浠樻鏂瑰紡锛歅 =80000脳[锛圥/A锛�14%锛�8-1锛�+ 1 ]
=80000脳[ 4.2882 + 1 ]=423056锛堝厓锛�
B浠樻鏂瑰紡锛歅 = 132000脳[锛圥/A锛�14% 锛�7锛夆€� 锛圥/A锛�14%锛�2锛塢
=132000脳[4.2882?1.6467]=348678锛堝厓锛�
C浠樻鏂瑰紡锛歅 =100000 + 90000脳锛圥/A锛�14%锛�6锛�
=100000 + 90000脳3.888=449983 锛堝厓锛�
鎳�(y墨ng)閬告搰B浠樻鏂瑰紡銆�
8锛屾煇鎶曡硣闋呯洰姣忓勾鏈�2钀厓鐨勬姇璩囨敹鐩�,鎶曡硣鏈熼檺鐐�10骞�,鏈€鍚庝竴骞翠竴娆″洖鏀惰硣閲�36钀厓,鍓囪┎鎶曡硣闋呯洰鐨勫洖鍫辩巼鐐哄灏�?
绛�: F/A=36/2=18 鐢ㄥ収(n猫i)鎻掓硶瑷堢畻,鍒楀嚭绛夋瘮渚嬪紡:
锛坕-12%锛�/锛�18-17.549锛�=锛�14%-12%锛�/锛�19.337-17.549锛�
i=12.50%
9,鏌愭姇璩囬爡鐩洰鍓嶆姇鍏ヨ硣閲�20钀厓锛屾瘡骞存湁4钀厓鐨勬姇璩囨敹鐩婏紝鎶曡硣骞撮檺鐐�8骞�锛屽墖瑭查爡鐩殑鎶曡硣鍫遍叕鐜囩偤澶氬皯锛�
绛旓細 P/A=20/4=5 鐢ㄥ収(n猫i)鎻掓硶瑷堢畻,鍒楀嚭绛夋瘮渚嬪紡:
锛坕-10%锛�/锛�5-5.3349锛�=锛�12%-10%锛�/锛�4.9676-5.3349锛�
i=11.82%
10,鏌愭姇璩囬爡鐩瘡骞存湁10钀厓鐨勬姇璩囨敹鐩�,鍦ㄦ姇璩囨敹鐩婄巼鍦�10%鐨勬浠朵笅,浼佹キ(y猫)甯屾湜鏈€鍚庝竴娆″洖鏀惰硣閲�100钀厓,鍓囪┎鎶曡硣闋呯洰鎶曡硣骞撮檺涓嶅緱灏戜簬澶氬皯骞�?
绛�: F/A=100/10=10 鐢ㄥ収(n猫i)鎻掓硶瑷堢畻,鍒楀嚭绛夋瘮渚嬪紡:
锛坣-7锛�/锛�10-9.4872锛�=锛�8-7锛�/锛�11.436-9.4872锛�
n=7.26锛堝勾锛�
11,鏌愭姇璩囬爡鐩洰鍓嶆姇璩�40钀厓,瑷堝妰姣忓勾鏈�8钀厓鐨勬敹鐩�,鍦ㄨ硣閲戞垚鏈巼鐐�8%鐨勬浠朵笅,鎶曡硣鍥炴敹鏈熺偤澶氬皯骞�?
绛�: P/A=40/8=5 鐢ㄥ収(n猫i)鎻掓硶瑷堢畻,鍒楀嚭绛夋瘮渚嬪紡:
锛坣-6锛�/锛�5-4.6229锛�=锛�7-6锛�/锛�5.2064-4.6229锛�
n=6.65锛堝勾锛�
12锛屼紒妤�(y猫)婧�(zh菙n)鍌欐姇璩囨煇闋呯洰锛岃▓鍔冮爡鐩稉(j墨ng)鐕熶簲骞�锛岄爯(y霉)瑷堟瘡骞村垎鍒ュ彲鐛插緱鎶曡硣鏀剁泭鐐�200锛�000鍏冦€�250锛�000鍏�銆�300锛�000鍏冦€�280锛�000鍏�銆�260锛�000鍏�銆佸湪淇濊瓑闋呯洰鐨勬姇璩囨敹鐩婄巼鐐�12%鐨勬浠朵笅锛屼紒妤�(y猫)鐩墠鎶曡硣椤嶆噳(y墨ng)鍦ㄥ灏戝厓涔嬪収(n猫i)锛�
绛�: P =200000脳锛圥/F锛�12%锛�1锛�+250000脳锛圥/F锛�12%锛�2锛�
+300000脳锛圥/F锛�12%锛�3锛�+280000脳锛圥/F锛�12%锛�4锛�
+260000脳锛圥/F锛�12%锛�5锛�
=200000脳0.8929+25000000脳0.7972+300000脳0.7118
+280000脳0.6355+260000脳0.5674=916884锛堝厓锛�
13锛屾煇鎶曡硣闋呯洰锛岄爡鐩殑鎶曡硣鏀剁泭鐜囩偤14%锛屽钩鍧囨瘡骞村彲鐛插緱400000鍏冪殑鎶曡硣鏀剁泭锛屽氨涓嬪垪姊濅欢瑷堢畻鍓囬爡鐩殑鐩墠鎶曡硣椤嶆噳(y墨ng)鎺у埗鍦ㄥ灏戝厓鍏�(n猫i)锛燂紙1锛夌劇寤鸿ō(sh猫)鏈�,缍�(j墨ng)鐕熸湡8骞达紙2锛夌劇寤鸿ō(sh猫)鏈�,缍�(j墨ng)鐕熸湡8骞�,鏈€鍚庝竴骞村彟鏈�250000鍏冪殑鍥炴敹椤嶏紙3锛夊缓瑷�(sh猫)鏈�2骞�,缍�(j墨ng)鐕熸湡8骞达紙4锛夊缓瑷�(sh猫)鏈�2骞�,缍�(j墨ng)鐕熸湡8骞�,鏈€鍚庝竴骞村彟鏈夊洖鏀堕250000鍏�
绛�: 锛�1锛塒 =400000脳锛圥/A,14%,8锛�
=400000脳4.6389 =1855560 锛堝厓锛�
锛�2锛塒 =400000脳锛圥/A,14%,8锛�+250000脳锛圥/F,14%,8锛�
=400000脳4.6389+250000脳0.3506=1943210锛堝厓锛�
锛�3锛塒 =400000脳[锛圥/A,14%,10锛�-锛圥/A,14%,2锛塢
=400000脳锛�5.2161-1.6467锛�=1427760锛堝厓锛�
锛�4锛塒 =400000脳[锛圥/A,14% ,10锛�-锛圥/A,14% , 2 锛塢+250000脳锛圥/F ,14% ,10 锛�
=400000脳锛�5.2161-1.6467锛�+250000脳0.2697=1495185锛堝厓锛�
14锛屼紒妤�(y猫)鍚戦妧琛屽€熷叆涓€绛嗘闋�480锛�000鍏�锛屾湡闄�2骞达紝骞村埄鐜囩偤8%锛屼絾閵€琛岃姹傛瘡瀛ｅ京(f霉)鍒╀竴娆�锛屽墖浼佹キ(y猫)瑭茬瓎鍊熸鐨勫闅涘埄鐜囩偤澶氬皯锛�2骞村悗鐨勬湰鍒╁拰鐐哄灏�锛�
绛�: 瀵﹂殯鍒╃巼=锛�1+8%/4锛�4-1=8.24%
鏈埄鍜�=480000脳锛�1+8%/4锛�4脳2 =562416锛堝厓锛�
15锛岀洰鍓嶅競鍫存槸鏈�35%鐨勫彲鑳界偤鑹ソ锛�45%鐨勫彲鑳界偤涓€鑸紝20%鐨勫彲鑳界偤杓冨樊銆備紒妤�(y猫)闈㈣嚚鍏╁€嬫姇璩囨柟妗堢殑閬告搰锛岀敳鏂规鍦ㄥ競鍫寸媭娉佽壇濂�銆佷竴鑸拰杓冨樊鐨勬儏娉佷笅鍒嗗垾鏈�120钀厓銆�60钀厓鍜�-20钀厓鐨勬姇璩囨敹鐩�锛涗箼鏂规鍦ㄥ競鍫寸媭娉佽壇濂�銆佷竴鑸拰杓冨樊鐨勬儏娉佷笅鍒嗗垾鏈�100钀厓銆�65钀厓鍜�-15钀厓鐨勬姇璩囨敹鐩�銆傜敤棰�(f膿ng)闅敹鐩婂潎琛″師鍓囨焙绛栦紒妤�(y猫)瑭查伕鎿囧拰浣曠ó鎶曡硣鏂规銆�
绛旓細鐢叉姇璩囨柟妗�:
鏈熸湜鍊�=120脳35%+60脳45%+锛�-20锛壝�20%=65锛堣惉鍏冿級
鏂瑰樊 =锛�120?65锛�2 脳35%+锛�60-65锛�2 脳45% +锛�-20?65锛�2脳20%=2515锛堣惉鍏冿級
妯�(bi膩o)婧�(zh菙n)闆㈠樊=锛�2515锛�1/2= 50.15 锛堣惉鍏冿級
妯�(bi膩o)婧�(zh菙n)闆㈠樊鐜�= 2515 / 65=0.77
涔欐姇璩囨柟妗堬細
鏈熸湜鍊�= 100脳35%+65脳45%+锛�-15锛壝�20%=61.25锛堣惉鍏冿級
鏂瑰樊=锛�100- 61.25 锛�2 脳35%+锛�65-61.25锛�2 脳45%+锛�-15-61.25锛�2 脳 20%
=1694.69锛堣惉鍏冿級
妯�(bi膩o)婧�(zh菙n)闆㈠樊=锛� 1694.69锛�1/2 = 41.17锛堣惉鍏冿級
妯�(bi膩o)婧�(zh菙n)闆㈠樊鐜�=41.17/61.25 = 0.67
姹虹瓥锛氬湪鍏╁€嬫姇璩囨柟妗堢殑鏈熸湜鍊间笉鐩稿悓鐨勬儏娉佷笅锛岀敳鏂规鐨勬(bi膩o)婧�(zh菙n)闆㈠樊鐜囧ぇ锛屾姇璩囬ⅷ(f膿ng)闅ぇ锛屼箼鏂规妯�(bi膩o)婧�(zh菙n)闆㈠樊鐜囧皬锛岄ⅷ(f膿ng)闅皬锛屽彲閬哥敤涔欐姇璩囨柟妗�銆�
锛堢敳锛�65钀厓 50.15钀厓 0.77 涔欙細61.75钀厓 41.17钀厓 0.6721锛�
16锛屾煇浼佹キ(y猫)2002骞寸殑閵峰敭鏀跺叆鐐�4锛�000锛�000鍏�锛屽噲鍒╂饯鐐�480锛�000鍏�锛屽悜鎶曡硣鑰呭垎閰嶈偂鍒�288锛�000鍏�锛屽勾鏈硣鐢�(ch菐n)璨�(f霉)鍌佃〃锛堟憳瑕侊級濡備笅锛�
璩囩敘(ch菐n)璨�(f霉)鍌佃〃
璩囩敘(ch菐n) 璨�(f霉)鍌靛強鎵€鏈夎€呮瑠(qu谩n)鐩�
鐝�(xi脿n)閲戝瓨娆� 160锛�000 鐭湡鍊熸 110锛�000
鎳�(y墨ng)鏀跺赋娆� 320锛�000 鎳�(y墨ng)浠樺赋娆� 240锛�000
瀛� 璨� 480锛�000 鎳�(y墨ng)浠樼エ鎿�(j霉) 160锛�000
寰呮敜璨�(f猫i)鐢� 120锛�000 鎳�(y墨ng)浠樿不(f猫i)鐢� 120锛�000
鍥哄畾璩囩敘(ch菐n) 850锛�000 闀锋湡璨�(f霉)鍌� 202锛�000
鐒″舰璩囩敘(ch菐n) 150锛�000 鑲℃澅娆�(qu谩n)鐩� 1248锛�000
绺� 椤� 2080锛�000 绺� 椤� 2080锛�000
鍏徃瑷堝妰2003骞村鐝�(xi脿n)閵峰敭鏀跺叆4锛�800锛�000鍏�锛岄姺鍞噲鍒╃巼鑸囪偂鍒╃櫦(f膩)鏀剧巼淇濇寔涓嶈畩銆傚氨涓嬪垪鍙兘鐨勪簨闋呭垎鍒ラ爯(y霉)娓叕鍙�2000骞村皪澶栬硣閲戦渶姹傞噺锛�
锛�1锛夛紝鍏徃娌掓湁鍓╀綑鐢熺敘(ch菐n)鑳藉姏锛岀暥(d膩ng)骞存湁鍥哄畾璩囩敘(ch菐n)鎶樿垔86锛�000鍏�锛屾柊澧為浂鏄熼枊鏀�24锛�000鍏�銆�
灏嶅璩囬噾闇€姹傞噺=锛�480?400锛壝梉锛�16 + 32+48+85锛�-锛�24+16+12锛塢 / 400 -480脳锛�48/400锛壝楋紙1?28.8/48锛�-8.6 + 2.4=-3.44锛堣惉鍏冿級
锛�2锛夛紝鍏徃灏氭湁鍓╀綑鐢熺敘(ch菐n)鑳藉姏锛岀暥(d膩ng)骞存湁鍥哄畾璩囩敘(ch菐n)鎶樿垔86锛�000鍏冿紝鏂板闆舵槦闁嬫敮24锛�000鍏�锛屽苟澧炲姞鎳�(y墨ng)鏀剁エ鍗犻姺鍞敹鍏ョ殑5%銆傦紙3.56钀厓锛�
灏嶅璩囬噾闇€姹傞噺=锛�480?400锛壝梉锛�16+32+48锛�-锛�24+16+12锛塢/400
?480脳锛�48/400锛壝楋紙1-28.8/48锛�?8.6+2.4+480脳5%=3.56 锛堣惉鍏冿級
锛�3锛夛紝鍏徃鐢熺敘(ch菐n)鑳藉姏宸茬稉(j墨ng)椋藉拰锛岀暥(d膩ng)骞存湁鍥哄畾璩囩敘(ch菐n)鎶樿垔86锛�000鍏�锛屽叾涓�40%鐢ㄤ簬鏇存柊鏀归€�銆傛柊澧為浂鏄熼枊鏀�24锛�000鍏冿紝瑷堝妰瀛樿波鍗犻姺鍞敹鍏ョ殑鐧惧垎姣斾笅闄�1%锛屾噳(y墨ng)浠樼エ鎿�(j霉)鍗犻姺鍞敹鍏ョ殑鐧惧垎姣斾笂鍗�2%銆傦紙-14.4钀厓锛�
灏嶅璩囬噾闇€姹傞噺=锛�480- 400锛壝楋紙181?52锛�/400?480脳锛�48/400锛� 脳锛�1- 28.8/48锛�
-8.6脳锛�1-40%锛�+2.4?480脳1%-480脳2%=-14.49锛堣惉鍏冿級
17锛屾煇鍏徃鍦�1999骞村害鐨勯姺鍞敹鍏ョ偤1锛�600锛�000鍏�锛岄姺鍞噲鍒╃巼15%锛岃偂鍒╃櫦(f膩)鏀剧巼鐐�40%锛岄毃閵峰敭鏀跺叆璁婂嫊鐨勮硣鐢�(ch菐n)鍗犻姺鍞敹鍏ョ殑姣斾緥鐐�45%锛岄毃閵峰敭鏀跺叆璁婂嫊鐨勮矤(f霉)鍌靛崰閵峰敭鏀跺叆鐨勬瘮渚嬬偤35%锛岃▓鍔�2000骞寸殑閵峰敭鏀跺叆姣�1999骞村鍔�400锛�000鍏�锛岄姺鍞噲鍒╃巼鍜岃偂鍒╃櫦(f膩)鏀剧巼鑸�1999骞翠繚鎸佷笉璁�锛岄毃閵峰敭鏀跺叆璁婂嫊鐨勮硣鐢�(ch菐n)鍗犻姺鍞敹鍏ョ殑姣斾緥鐐�42%锛岄毃閵峰敭鏀跺叆璁婂嫊鐨勮矤(f霉)鍌靛崰閵峰敭鏀跺叆鐨勬瘮渚�30%锛屽浐瀹氳硣鐢�(ch菐n)鐨勬姌鑸婄偤40锛�000鍏�锛屾柊澧炴姇璩囬爡鐩墍闇€璩囬噾150锛�000鍏�銆傚墖瑭插叕鍙�2000骞村皪澶栬硣閲戦渶姹傞噺鐐哄灏戝厓锛�
灏嶅璩囬噾闇€姹傞噺=400000脳锛�45%-35%锛�-锛�1600000+400000锛壝�15%脳锛�1-40%锛�
-40000+150000-2000000脳锛�45%-42%锛�+2000000脳锛�35%-30%锛�=10000锛堝厓锛�
18锛屾煇鍏徃鏍规摎(j霉)姝峰彶璩囨枡绲�(t菕ng)瑷堢殑缍�(j墨ng)鐕熸キ(y猫)鍕�(w霉)閲忚垏璩囬噾闇€姹傞噺鐨勬湁闂�(gu膩n)鎯呮硜濡備笅锛�
缍�(j墨ng)鐕熸キ(y猫)鍕�(w霉)閲忥紙钀欢锛� 10 8 12 11 15 14
璩囬噾闇€姹傞噺锛堣惉鍏冿級 20 21 22 23 30 28
瑕佹眰鍒嗗垾鐢ㄥ洖姝哥洿绶氭硶鍜岄珮浣庨粸(di菐n)娉曢爯(y霉)娓叕鍙稿湪缍�(j墨ng)鐕熸キ(y猫)鍕�(w霉)閲忕偤13钀欢鏅傜殑璩囬噾闇€姹傞噺銆�
绛�: 鍥炴鐩寸窔娉�: b =锛坣鈭憍y - 鈭憍鈭憏锛�/锛坣鈭憍2 ? 锛堚垜x锛�2
=锛�6脳1727?70脳144锛�/锛�6脳850?702锛�=1.41
a =锛堚垜y-b鈭憍锛�/ n
=锛�144?1.41脳70锛�/6=7.55
鎵€浠ワ紝y = 7.55 + 1.41x,鐣�(d膩ng)缍�(j墨ng)鐕熸キ(y猫)鍕�(w霉)閲忕偤13钀檪锛屽皪澶栬硣閲戦渶姹傞噺锛�
y=7.55 + 1.41脳13=25.88锛堣惉鍏冿級
楂樹綆榛�(di菐n)娉�: b =锛�30?21锛�/锛� 15?8锛�=1.29
. a =30-1.29脳15=10.65
鎵€浠�锛寉 = 10.65 + 1.29x,鐣�(d膩ng)缍�(j墨ng)鐕熸キ(y猫)鍕�(w霉)閲忕偤13钀檪锛屽皪澶栬硣閲戦渶姹傞噺:
y=10.65+1.29脳13= 27.42锛堣惉鍏冿級
19锛屼紒妤�(y猫)鍚戦妧琛屽€熷叆涓€绛嗘闋�锛岄妧琛屾彁鍑轰笅鍒楁浠朵緵浼佹キ(y猫)閬告搰锛欰锛屽勾鍒╃巼鐐�10%锛堝柈鍒╋級锛屽埄闅ㄦ湰娓呫€侭锛屾瘡鍗婂勾寰�(f霉)鍒╀竴娆★紝骞村埄鐜囩偤9%锛屽埄闅ㄦ湰娓呫€侰锛屽勾鍒╃巼鐐�8%锛屼絾蹇呴爤淇濇寔25%鐨勮(b菙)鍎熸€т綑椤�銆侱锛屽勾鍒╃巼鐐�9.5%鎸夎布鐝�(xi脿n)娉曚粯鎭€備紒妤�(y猫)瑭查伕鎿囧拰绋柟寮忓彇寰楀€熸锛�
绛旓細Air=10%
Big=锛�1+9%/2锛�2-1=9.20%
Chi=8%/锛�1-25%锛�=10.67%
Did=9.5%/锛�1-9.5%锛�=10.50% 鎳�(y墨ng)瑭查伕鎿嘊姊濅欢銆�
20锛屾煇鍏徃婧�(zh菙n)鍌欑櫦(f膩)琛岄潰鍊肩偤500鍏冪殑浼佹キ(y猫)鍌靛埜锛屽勾鍒╃巼鐐�8%锛屾湡闄愮偤5骞�銆傚氨涓嬪垪姊濅欢鍒嗗垾瑷堢畻鍌靛埜鐨勭櫦(f膩)琛屽児銆傦紙1锛夋瘡骞磋▓鎭竴娆¤珛鍒嗗垾瑷堢畻甯傚牬鍒╃巼鍦�6%銆�8%銆�10%鐨勬浠朵笅鐨勪紒妤�(y猫)鍌靛埜鐧�(f膩)琛屽児銆傦紙2锛夊埌鏈熶竴娆￠倓鏈粯鎭紙鍠埄锛夊垎鍒ヨ▓绠楀競鍫村埄鐜囧湪6%銆�8%銆�10%鐨勬浠朵笅鐨勪紒妤�(y猫)鍌靛埜鐧�(f膩)琛屽児銆傦紙3锛夊埌鏈熶竴娆￠倓鏈粯鎭垎鍒ヨ▓绠楀競鍫村埄鐜囧湪6%銆�8%銆�10%鐨勬浠朵笅鐨勪紒妤�(y猫)鍌靛埜鐧�(f膩)琛屽児銆傦紙4锛夌劇鎭姌鍍瑰偟鍒稿垎鍒ヨ▓绠楀競鍫村埄鐜囧湪6%銆�8%銆�10%鐨勬浠朵笅鐨勪紒妤�(y猫)鍌靛埜鐧�(f膩)琛屽児銆�
锛�1锛� 姣忓勾瑷堟伅涓€娆�:
甯傚牬鍒╃巼6%鐨勭櫦(f膩)琛屽児=500脳锛圥/F锛�6%锛�5锛�+500脳8%脳锛圥/A锛�6%锛�5锛�
=500脳0.7473+500脳8%脳4.2124=542.15锛堝厓锛�
甯傚牬鍒╃巼8%鐨勭櫦(f膩)琛屽児=500脳锛圥/F锛�8%锛�5锛�+500脳8%脳锛圥/A锛�8%锛�5锛�
=500脳0.6806+500脳8%脳3.9927=500.00锛堝厓锛�
甯傚牬鍒╃巼10%鐨勭櫦(f膩)琛屽児=500脳锛圥/F锛�10%锛�5锛�+500脳8%脳锛圥/A锛�10%锛�5锛�
=500脳0.6209+500脳8%脳3.7908=462.37锛堝厓锛�
锛�2锛� 鍒版湡涓€娆￠倓鏈粯鎭紙鍠埄锛�:
甯傚牬鍒╃巼6%鐨勭櫦(f膩)琛屽児=500脳锛�1+8%脳5锛壝楋紙P/F锛�6%锛�5锛�
=500脳锛�1+8%脳5锛壝�0.7473=523.11锛堝厓锛�
甯傚牬鍒╃巼8%鐨勭櫦(f膩)琛屽児=500脳锛�1+8%脳5锛壝楋紙P/F锛�8%锛�5锛�
=500脳锛�1+8%脳5锛壝�0.6806=476.42锛堝厓锛�
甯傚牬鍒╃巼10%鐨勭櫦(f膩)琛屽児=500脳锛�1+8%脳5锛壝楋紙P/F锛�10%锛�5锛�
=500脳锛�1+8%脳5锛壝�0.6209=434.63锛堝厓锛�
锛�3锛� 鍒版湡涓€娆￠倓鏈粯鎭�:
甯傚牬鍒╃巼6%鐨勭櫦(f膩)琛屽児=500脳锛團/P,8%,5锛� 脳锛圥/F,6%,5锛�
=500脳1.4693脳0.7473=549.00锛堝厓锛�
甯傚牬鍒╃巼6%鐨勭櫦(f膩)琛屽児=500脳锛團/P,8%,5锛� 脳锛圥/F,8%,5锛�
=500脳1.4693脳0.6806=500.00锛堝厓锛�
甯傚牬鍒╃巼10%鐨勭櫦(f膩)琛屽児=500脳锛團/P,8%,5锛� 脳锛圥/F,10%,5)
=500脳1.4693脳0.6209=456.14锛堝厓锛�
锛�4锛� 鐒℃伅鎶樺児鐧�(f膩)琛�:
甯傚牬鍒╃巼6%鐨勭櫦(f膩)琛屽児=500脳锛圥/F,6%,5锛�=500脳0.7473=373.65锛堝厓锛�
甯傚牬鍒╃巼8%鐨勭櫦(f膩)琛屽児=500脳锛圥/F,8%,5锛�=500脳0.6806=340.30锛堝厓锛�
甯傚牬鍒╃巼10%鐨勭櫦(f膩)琛屽児=500脳锛圥/F,10%,5锛�=500脳0.6209=310.45锛堝厓锛�
21锛屾煇鍏徃铻嶈硣绉熷叆瑷�(sh猫)鍌欎竴鑷猴紝瑭茶ō(sh猫)鍌欑殑璨峰児鐐�480锛�000鍏�锛岀璩冩湡闄愮偤10骞�锛岀璩冨叕鍙歌€冩叜铻嶈硣鎴愭湰銆佽瀺璩囨敹鐩婃サ鍏剁浉闂�(gu膩n)鎵嬬簩(x霉)璨�(f猫i)鍚庣殑鎶樼従(xi脿n)鐜囩偤16%锛岃珛鍒嗗垾瑷堢畻绉熻硟鍏徃瑕佹眰浼佹キ(y猫)鍦ㄦ瘡骞村勾鏈垨骞村垵绛夐鏀粯鐨勫勾绉熼噾銆�
骞存湯鏀粯鐨勭閲�=480000脳[1/锛圥/A,16%,10锛塢=99313.08鍏�
骞村垵鏀粯鐨勭閲�=480000脳[1/锛圥/A,16%,10-1锛�+1]=85614.91鍏�
22锛屾煇浼佹キ(y猫)璩掕臣鍟嗗搧涓€鎵癸紝鍍规800锛�000鍏�锛屼緵璨ㄥ晢鍚戜紒妤�(y猫)鎻愬嚭鐨勪粯娆炬浠跺垎鍒ョ偤锛氱珛鍗充粯娆撅紝浠樻780锛�800鍏�銆�5澶╁悗浠樻锛屼粯娆�781锛�200鍏冦€�10澶╁悗浠樻锛屼粯娆�781锛�600鍏�銆�20澶╁悗浠樻锛屼粯娆�783锛�000鍏�銆�30澶╁悗浠樻锛屼粯娆�785锛�000鍏�銆�45澶╁悗浠樻锛屼粯娆�790锛�000鍏�銆傛渶鍚庝粯娆炬湡鐐�60澶�锛屽叏椤嶄粯娆�銆傜洰鍓嶉妧琛岀煭鏈熷€熸骞村埄鐜囩偤12%銆傝珛鍒嗗垾瑷堢畻浼佹キ(y猫)鏀炬鍏堥€�(j矛n)鎶樻墸鐨勮硣閲戞垚鏈強姹虹瓥浼佹キ(y猫)鎳�(y墨ng)鍦ㄤ綍鏅傛敮浠樺晢鍝佹鏈€鍚堥仼銆�
瑷堢畻鏀炬鐝�(xi脿n)閲戞姌鎵ｇ殑姗�(j墨)鏈冩垚鏈細
绔嬪嵆浠樻锛氭姌鎵ｇ巼=锛�800000-780800锛�/800000=2.4%
姗�(j墨)鏈冩垚鏈�=2.4%/锛�1-2.4%锛壝�360/锛�60-0锛�=14.75%
5澶╀粯娆�: 鎶樻墸鐜�=锛�800000-7812000锛�/800000=2.35%%
姗�(j墨)鏈冩垚鏈�=2.35%/锛�1-2.35%锛壝�360/锛�60-5锛�=15.75%
10澶╀粯娆�:鎶樻墸鐜�=锛�800000-781600锛�/800000=2.3%
姗�(j墨)鏈冩垚鏈�=2.3%/锛�1-2.3%锛壝�360/锛�60-10锛�=16.95%
20澶╀粯娆�:鎶樻墸鐜�=锛�800000-783000锛�/800000=2.125%
姗�(j墨)鏈冩垚鏈�=2.125%/锛�1-2.125%锛壝�360/锛�60-20锛�=19.54%
30澶╀粯娆�:鎶樻墸鐜�=锛�800000-785000锛�/800000=1.875%
姗�(j墨)鏈冩垚鏈�=1.875%/锛�1-1.875%锛壝�360/锛�60-30锛�=22.93%
45澶╀粯娆�:鎶樻墸鐜�=锛�800000-790000锛�/800000=1.25%
姗�(j墨)鏈冩垚鏈�=1.25%/锛�1-1.25%锛壝�360/锛�60-45锛�=30.37%
浼佹キ(y猫)鎳�(y墨ng)閬告搰鍦�45澶╀粯娆�,鍥犵偤鏀炬45澶╃殑鐝�(xi脿n)閲戞姌鎵ｆ(j墨)鏈冩垚鏈渶澶�.
23锛屾煇鍏徃鑰冩叜绲︿簣瀹㈡埗淇＄敤鏈熼檺鐐�60澶╃殑鐝�(xi脿n)閲戞姌鎵�锛岃▓鍔冪殑淇＄敤璩囬噾鎴愭湰鐜囩偤18%锛孉锛氬鏋滆€冩叜鐨勭従(xi脿n)閲戞姌鎵ｆ湡鐐�10澶╋紝鍓囨噳(y墨ng)绲︿簣瀹㈡埗鐨勭従(xi脿n)閲戞姌鎵ｇ巼鐐哄灏�锛烞锛氬鏋滆€冩叜绲︿簣瀹㈡埗鐨勭従(xi脿n)閲戞姌鎵ｇ巼鐐�2%锛屽墖鎳�(y墨ng)绲︿簣瀹㈡埗鐨勭従(xi脿n)閲戞姌鎵ｆ湡鐐哄灏戝ぉ锛�
X/锛�1-X锛� 脳360/锛�60-10锛�=18% X=2.44%
2%/锛�1-2%锛壝�360/锛�60-X锛�=18% X=19.18锛堝ぉ锛�
24,浼佹キ(y猫)鍚戦妧琛屽€熷叆娆鹃爡500锛�000鍏�锛屽€熸鍒╃巼鐐�8%锛岄妧琛屽悜浼佹キ(y猫)鎻愬嚭瑭茬瓎鍊熸蹇呴爤鍦ㄩ妧琛屼繚鎸�10%鐨勮(b菙)鍎熸€т綑椤�锛屽苟鍚戦妧琛屾敮浠�2锛�000鍏冩墜绾�(x霉)璨�(f猫i)锛屼紒妤�(y猫)鐨勬墍寰楃▍鐜囩偤30%锛屽墖瑭茬瓎鍊熸鐨勮硣閲戞垚鏈槸澶氬皯锛�
璩囬噾鎴愭湰=500000脳8%脳锛�1-30%锛�/[500000脳锛�1-10%锛�-2000]=6.25%
25锛屾煇浼佹キ(y猫)鐧�(f膩)琛屽偟鍒哥睂璩�锛屽叡鐧�(f膩)琛屽偟鍒�200钀唤锛屾瘡浠介潰鍊肩偤1锛�000鍏冿紝骞村埄鐜�8%锛岀櫦(f膩)琛屽児鐐烘瘡浠�1锛�040鍏�锛屾墜绾�(x霉)璨�(f猫i)鐜囩偤6%,浼佹キ(y猫)鎵€鐨勭▍鐜囩偤33%锛屽墖瑭插偟鍒哥殑璩囬噾鎴愭湰鐐哄灏�锛�
璩囬噾鎴愭湰=1000脳8%脳锛�1-33%锛�/[1040脳锛�1-6%锛塢=5.48%
26锛屾煇浼佹キ(y猫)婧�(zh菙n)鍌欑櫦(f膩)琛屽偟鍒�4锛�500钀唤锛屾瘡浠介潰鍊肩偤200鍏�锛屾湡闄愮偤3骞�锛岀洰鍓嶅競鍫村埄鐜囩偤6%锛岃€屽偟鍒哥殑绁ㄩ潰鍒╃巼8%锛岀睂璩囪不(f猫i)鐜囩偤2%锛屼紒妤�(y猫)鐨勬墍寰楃▍鐜囩偤30%锛屽墖瑭插偟鍒哥殑鐧�(f膩)琛屽児鍜岃硣閲戞垚鏈垎鍒ョ偤澶氬皯锛�
鐧�(f膩)琛屽児=200脳锛圥/F锛�6%锛�3锛�+200脳8%脳锛圥/A锛�6%锛�3锛�
=200脳 0.8396 + 16脳2.6730=210.69鍏�
璩囬噾鎴愭湰=200脳8%脳锛�1-30%锛�/[210.69脳锛�1-2%锛塢=5.42%
27锛屾煇浼佹キ(y猫)鍌靛埜鐨勭櫦(f膩)琛屽児鐐�94鍏�锛岄潰鍊肩偤100鍏冿紝鏈熼檺鐐�1骞�锛屽埌鏈熸寜闈㈠€煎劅閭�锛岀睂璩囪不(f猫i)鐜囩偤4%,浼佹キ(y猫)鎵€寰楃▍鐜囩偤33%锛屽墖瑭插偟鍒哥殑璩囬噾鎴愭湰鐐哄灏�锛�
璩囬噾鎴愭湰=锛�100-94锛� 脳锛�1-33%锛�/[94脳锛�1-4%锛塢=4.45%
28锛屾煇浼佹キ(y猫)閫氶亷鐧�(f膩)琛岃偂绁ㄧ睂鎺硣閲�锛屽叡鐧�(f膩)琛�2锛�000钀偂鑲＄エ锛屾瘡鑲￠潰鍊�20鍏�锛屾瘡鑲＄櫦(f膩)琛屽児鐐�42鍏冿紝鐧�(f膩)琛屾墜绾�(x霉)璨�(f猫i)鐜囩偤4%锛� 闋�(y霉)瑷堣┎鑲＄エ鐨勫浐瀹氳偂鍒╃巼鐐�12%锛屼紒妤�(y猫)鐨勬墍寰楃▍鐜囩偤35%锛屽墖鑲＄エ鐨勮硣閲戞垚鏈偤澶氬皯锛�
璩囬噾鎴愭湰=20脳12%/[42脳锛�1-4%锛塢=5.95%
29锛屾煇浼佹キ(y猫)閫氶亷鐧�(f膩)琛屾櫘閫氳偂鑲＄エ绫屾帾璩囬噾锛屽叡鐧�(f膩)琛屾櫘閫氳偂4锛�000钀偂锛屾瘡鑲￠潰鍊�1鍏�锛岀櫦(f膩)琛屽児鐐烘瘡鑲�5.80鍏�锛岀櫦(f膩)琛屾墜绾�(x霉)璨�(f猫i)鐜囩偤5%锛岀櫦(f膩)琛屽悗绗竴骞寸殑姣忚偂鑲″埄鐐�0.24鍏�锛屼互鍚庨爯(y霉)瑷堟瘡骞磋偂鍒╁闀风巼鐐�4%锛屽墖瑭叉櫘閫氳偂鐨勮硣閲戞垚鏈偤澶氬皯锛�
璩囬噾鎴愭湰=0.24/[5.80脳锛�1-5%锛塢+4%=8.36%
30锛屾煇鎶曡硣闋呯洰璩囬噾渚嗘簮鎯呮硜濡備笅锛氶妧琛屽€熸300钀厓锛屽勾鍒╃巼鐐�4%锛屾墜绾�(x霉)璨�(f猫i)鐐�4钀厓銆傜櫦(f膩)琛屽偟鍒�500钀厓锛岄潰鍊�100鍏�锛岀櫦(f膩)琛屽児鐐�102鍏�锛屽勾鍒╃巼鐐�6%锛岀櫦(f膩)琛屾墜绾�(x霉)璨�(f猫i)鐜囩偤2%銆傚劒(y艒u)鍏堣偂200钀厓锛屽勾鑲″埄鐜囩偤10%锛岀櫦(f膩)琛屾墜绾�(x霉)璨�(f猫i)鐜囩偤4%銆傛櫘閫氳偂600钀厓锛屾瘡鑲￠潰鍊�10鍏�锛屾瘡鑲″競鍍�15鍏�锛屾瘡鑲¤偂鍒╃偤2.40鍏�锛屼互鍚庢瘡骞村闀�5%锛屾墜绾�(x霉)璨�(f猫i)鐜囩偤4%銆傜暀鐢ㄥ埄娼�400钀厓銆傝┎鎶曡硣闋呯洰鐨勮▓鍔冨勾鎶曡硣鏀剁泭鐐�248钀厓锛屼紒妤�(y猫)鎵€寰楃▍鐜囩偤33%銆備紒妤�(y猫)鏄惁鎳�(y墨ng)瑭茬睂鎺硣閲戞姇璩囪┎闋呯洰锛�
鍊嬪垾璩囬噾姣旈噸锛�
閵€琛屽€熸姣旈噸= 300 / 2000 = 15% 鍌靛埜璩囬噾姣旈噸=500 /2000=25%
鍎�(y艒u)鍏堣偂璩囬噾姣旈噸=200 / 2000=10% 鏅€氳偂璩囬噾姣旈噸=600 / 2000 =30%
鐣欏瓨鏀剁泭璩囬噾姣旈噸=400 / 2000=20%
鍊嬪垾璩囬噾鎴愭湰锛�
閵€琛屽€熸鎴愭湰=300脳4%脳锛�1-33%锛�/锛�300-4锛�=2.72%
鍌靛埜璩囬噾鎴愭湰=100脳6%脳锛�1-33%锛�/[102脳锛�1-2%锛塢=4.02%
鍎�(y艒u)鍏堣偂璩囬噾鎴愭湰=10% / 1脳锛�1-4%锛�=10.42%
鏅€氳偂璩囬噾鎴愭湰=2.40 / [15脳锛�1-4%锛塢 +5%=21.67%
鐣欏瓨鏀剁泭璩囬噾鎴愭湰==2.4/ 15 + 5%=21%
鍔犳瑠(qu谩n)骞冲潎璩囬噾鎴愭湰=
2.72%脳 15%+4.02%脳25%+10.42%脳10%+21.67%脳30%+21%脳20%
=0.41%+1.01%+1.04%+6.50%+4.2%=13.16%
骞存姇璩囨敹鐩婄巼=248/2000=12.4%
璩囬噾鎴愭湰13.15%>鎶曡硣鏀剁泭鐜�12.4%,鍥犳涓嶈┎绫岃硣鎶曡硣瑭查爡鐩€�
31锛屾煇鍏徃1999骞存湯璩囬噾渚嗘簮鎯呮硜濡備笅锛氬偟鍒�400钀厓锛屽勾鍒╃巼8%銆傚劒(y艒u)鍏堣偂200钀厓锛屽勾鑲″埄鐜�12%銆傛櫘閫氳偂50钀偂锛屾瘡鑲￠潰鍊�20鍏�锛屾瘡鑲¤偂鍒�3鍏�锛屾瘡骞村闀�6%銆傚叕鍙歌▓鍔�2000骞村璩�400钀厓锛屽叾涓偟鍒�200钀厓锛屽勾鍒╃巼12%锛屾櫘閫氳偂200钀厓锛岀櫦(f膩)琛屽悗姣忚偂甯傚児鐐�25鍏冿紝姣忚偂鑲″埄3.20鍏�锛屾瘡骞村闀�6%銆傛墜绾�(x霉)璨�(f猫i)蹇界暐涓嶈▓锛屼紒妤�(y猫)鎵€寰楃▍鐜囩偤30%銆傝姹傝▓绠楀璩囧墠鍚庣殑璩囬噾鍔犳瑠(qu谩n)骞冲潎鎴愭湰銆傚苟瑾槑璨″嫏(w霉)鐙€娉佹槸鍚︽湁鎵€鏀瑰杽銆�
澧炶硣鍓嶇殑璩囬噾绺介=400+200+50脳20=400+200+1000=1600锛堣惉鍏冿級
澧炶硣鍚庣殑璩囬噾绺介=400+200+50*20+400=1600+400=2000锛堣惉鍏冿級
澧炶硣鍓嶅€嬪垾璩囬噾鎴愭湰锛�
鍌靛埜鍊嬪垾璩囬噾鎴愭湰=8%脳锛�1-30%锛�/锛�1-0锛�=5.6%
鍎�(y艒u)鍏堣偂鍊嬪垾璩囬噾鎴愭湰=12%/锛�1-0锛�=12%
鏅€氳偂鍊嬪垾璩囬噾鎴愭湰=3/[20脳锛�1-0锛� ]+ 6%=21%
澧炶硣鍓嶅姞娆�(qu谩n)璩囬噾鎴愭湰
=5.6%脳400/1600+12%脳200/1600+21%1000/1600=16.025%
澧炶硣鍚庡€嬪垾璩囬噾鎴愭湰锛�
鍌靛埜鍊嬪垾璩囬噾鎴愭湰=8%脳锛�1-30%锛�/锛�1-0锛�=5.6%
鍌靛埜鍊嬪垾璩囬噾鎴愭湰=12%脳锛�1-30%锛�/锛�1-0锛�=8.4%
鍎�(y艒u)鍏堣偂鍊嬪垾璩囬噾鎴愭湰=12%/锛�1-0锛�=12%
鏅€氳偂鍊嬪垾璩囬噾鎴愭湰=3.20 / [25脳锛�1-0锛塢 +6%=18.8%
澧炶硣鍚庡姞娆�(qu谩n)璩囬噾鎴愭湰
=5.6%脳400/2000+8.4%脳200/2000+12%脳200/2000+18.8%脳1200/2000
=14.44%
澧炶硣鍚庣殑璩囬噾鎴愭湰鐐�14.44%姣斿璩囧墠鐨勮硣閲戞垚鏈�16.025%鏈夋墍闄嶄綆,鍥犳浼佹キ(y猫)璨″嫏(w霉)鐙€娉佸拰璩囬噾绲�(ji茅)妲�(g貌u)鏈夋墍鏀瑰杽銆�
32锛屾煇鍏徃1999骞撮姺鍞晢鍝�12锛�000浠�锛屾瘡浠跺晢鍝佸敭鍍圭偤240鍏冿紝姣忎欢鍠綅璁婂嫊鎴愭湰鐐�180鍏�锛屽叏骞寸櫦(f膩)鐢熷浐瀹氭垚鏈附椤�320锛�000鍏�銆傝┎浼佹キ(y猫)鎿佹湁绺借硣鐢�(ch菐n)5锛�000锛�000鍏�锛岃硣鐢�(ch菐n)璨�(f霉)鍌电巼鐐�40%锛屽偟鍕�(w霉)璩囬噾鐨勫埄鐜囩偤8%锛屼富娆�(qu谩n)璩囬噾涓湁50%鏅€氳偂锛屾櫘閫氳偂姣忚偂闈㈠€肩偤20鍏冦€備紒妤�(y猫)鐨勬墍寰楃▍绋呯巼鐐�33%銆傚垎鍒ヨ▓绠楋紙1锛夊柈浣嶈并鐛�(xi脿n)姣涚泭锛�2锛夎并鐛�(xi脿n)姣涚泭M锛�3锛夋伅绋呭墠鍒╂饯EBIT锛�4锛夊埄娼ょ附椤嶏紙5锛夊噲鍒╂饯锛�6锛夋櫘閫氳偂姣忚偂鏀剁泭EPS锛�7锛夌稉(j墨ng)鐕熸潬妗跨郴鏁�(sh霉)DOL锛�8锛夎病鍕�(w霉)鏉犳】绯绘暩(sh霉)DFL锛�9锛夊京(f霉)鍚堟潬妗跨郴鏁�(sh霉)DCL
1銆佸柈浣嶉倞闅涜并鐛�(xi脿n)m=240-180=60锛堝厓锛�
2銆侀倞闅涜并鐛�(xi脿n)绺介M=12000脳60 =720000锛堝厓锛�
3銆佹伅绋呭墠鍒╂饯EBIT=720000?320000=400000 锛堝厓锛�
4銆佸埄娼ょ附椤� =鎭▍鍓嶅埄娼� ?鍒╂伅=EBIT?I
=400000?5000000脳40%脳8%=400000?160000=240000锛堝厓锛�
5銆佸噲鍒╂饯 =鍒╂饯绺介锛�1?鎵€寰楃▍%锛�=锛圗BIT?I锛夛紙1?T锛�
= 240000脳锛�1- 33%锛�=160800锛堝厓锛�
6銆佹櫘閫氳偂姣忚偂鏀剁泭EPS =[锛圗BIT?I锛夛紙1?T锛�-D]/N
=160800?0 /锛� 5 000 000脳60%脳50% 锛�/20=160800/75000 =2.144 锛堝厓/鑲★級
7銆佺稉(j墨ng)鐕熸潬妗跨郴鏁�(sh霉)DOL=M/EBIT=720000/400000=1.8
8銆佽病鍕�(w霉)鏉犳】绯绘暩(sh霉)DFL= EBIT/锛圗BIT-I锛�= 400000/240000=1.67
9銆佸京(f霉)鍚堟潬妗跨郴鏁�(sh霉)DCL =DOL脳DFL=1.8脳1.67=3.01
33锛屾煇浼佹キ(y猫)1999骞村叏骞撮姺鍞敘(ch菐n)鍝�15锛�000浠�锛屾瘡浠剁敘(ch菐n)鍝佺殑鍞児鐐�180鍏�锛屾瘡浠剁敘(ch菐n)鍝佽畩鍕曟垚鏈�120鍏冿紝浼佹キ(y猫)鍏ㄥ勾鐧�(f膩)鐢熷浐瀹氭垚鏈附椤�450锛�000鍏冦€備紒妤�(y猫)鎿佹湁璩囩敘(ch菐n)绺介5锛�000锛�000鍏�锛岃硣鐢�(ch菐n)璨�(f霉)鍌电巼鐐�40%锛岃矤(f霉)鍌佃硣閲戝埄鐜囩偤10%锛屼紒妤�(y猫)鍏ㄥ勾鏀粯鍎�(y艒u)鍏堣偂鑲″埄30锛�000鍏�锛屼紒妤�(y猫)鎵€寰楃▍绋呯巼鐐�40%銆傚垎鍒ヨ▓绠楃稉(j墨ng)鐕熸潬妗跨郴鏁�(sh霉)銆佽病鍕�(w霉)鏉犳】绯绘暩(sh霉)銆佸京(f霉)鍚堟潬妗跨郴鏁�(sh霉)銆�
DOL =15000脳锛�180-120锛�/[15000脳锛�180-120锛�- 450000]= 2
DFL = [15000脳锛�180-120锛�?450000]]/
[15000脳锛�180-120锛�?450000 -锛�5 000000脳40%脳10%锛�-30000/锛�1-40%锛塢=2.25
DCL= DOL脳DFL=2 脳 2.25=4.5
34锛屾煇鍏徃鎿佹湁绺借硣鐢�(ch菐n)2锛�500钀厓锛屽偟鍕�(w霉)璩囬噾鑸囦富娆�(qu谩n)璩囬噾鐨勬瘮渚嬬偤4锛�6锛屽偟鍕�(w霉)璩囬噾鐨勫钩鍧囧埄鐜囩偤8%锛屼富娆�(qu谩n)璩囬噾涓湁200钀厓鐨勫劒(y艒u)鍏堣偂锛屽劒(y艒u)鍏堣偂鐨勮偂鍒╃巼鐐�6.7%锛屽叕鍙哥櫦(f膩)琛屽湪澶栫殑鏅€氳偂鐐�335钀偂銆�1999骞村叕鍙哥櫦(f膩)鐢熷浐瀹氭垚鏈附椤嶇偤300钀厓锛屽鐝�(xi脿n)鍑堝埄娼ょ偤348.4钀厓锛屽叕鍙哥殑鎵€鐨勭▍绋呯巼鐐�33%銆傚垎鍒ヨ▓绠楋紙1锛夋櫘閫氳偂姣忚偂鏀剁泭EPS锛�2锛夋伅绋呭墠鍒╂饯EBIT锛�3锛夎病鍕�(w霉)鏉犳】绯绘暩(sh霉)DFL锛�4锛夌稉(j墨ng)鐕熸潬妗跨郴鏁�(sh霉)DOL锛�5锛夊京(f霉)鍚堟潬妗跨郴鏁�(sh霉)DCL
EPS =锛�348.4-200脳6.7%锛�/335=1锛堝厓/姣忚偂锛�
EBIT=348.4/锛�1-33%锛�+2500脳40%脳8%=600锛堣惉鍏冿級
M=600+300=900锛堣惉鍏冿級
DOL=900/600=1.5
DFL=600/[锛�600-2500脳40%脳8%-13.4/锛�1-33%锛夛級=1.2
DCL=DOL脳DFL=1.5脳1.2=1.8
35锛屾煇鍏徃鎿佹湁璩囩敘(ch菐n)绺介鐐�4锛�000鍏�锛岃嚜鏈夎硣閲戣垏鍌靛嫏(w霉)璩囬噾鐨勬瘮渚�6锛�4銆傚偟鍕�(w霉)璩囬噾涓湁60%鏄€氶亷鐧�(f膩)琛屽偟鍒稿彇寰楃殑锛屽偟鍒哥殑鍒╂伅璨�(f猫i)鐢ㄦ槸鍏徃鍏ㄥ勾鍒╂伅璨�(f猫i)鐢ㄧ殑70%銆傚湪1999骞寸殑閵峰敭鏀跺叆鐐�2锛�000钀厓锛屽噲鍒╂饯鐐�140钀厓锛屽叕鍙告墍寰楃▍绋呯巼鐐�30%銆備紒妤�(y猫)鐨勭稉(j墨ng)鐕熸潬妗跨郴鏁�(sh霉)鍜岃病鍕�(w霉)鏉犳】绯绘暩(sh霉)鍧囩偤2銆傝珛瑷堢畻锛�1锛夎┎鍏徃鐨勫叏骞村埄鎭不(f猫i)鐢↖锛�2锛夊叕鍙哥殑鍏ㄥ勾鍥哄畾鎴愭湰绺介A锛�3锛夎并鐛�(xi脿n)閭婇殯M锛�4锛夊偟鍒歌硣閲戠殑璩囬噾鎴愭湰鐜�
I=锛�2-1锛壝�140/锛�1-30%锛�=200锛堣惉鍏冿級
A=锛�2-1锛壝梉140/锛�1-30%锛�+200]=400
M=140/锛�1-30%锛�+200+400=800
鍌靛埜璩囬噾鎴愭湰=200脳70%脳锛�1-30%锛�/[4000脳40%脳60%-0]=10.21%
鐝�(xi脿n)鍦ㄦ槸鍖椾含鏅傞枔锛�2004-5-23銆€鏃�8锛�15銆€銆€婧�(zh菙n)鍌欏悆椋�锛屼粖澶╂櫄涓婁竴瀹氬皣浣欎笅鐨勯儴鍒嗙湅瀹�??锛�
36锛屾煇浼佹キ(y猫)1999骞撮姺鍞敹鍏ョ偤6锛�000钀厓锛岃畩鍕曟垚鏈巼鐐�60%锛岀暥(d膩ng)骞翠紒妤�(y猫)鐨勫噲鍒╂饯鐐�1锛�200钀厓锛屼紒妤�(y猫)鎵€寰楃▍绋呯巼鐐�40%銆備紒妤�(y猫)鐨勮硣鐢�(ch菐n)璨�(f霉)鍌电巼鐐�20%锛岃硣鐢�(ch菐n)绺介鐐�7锛�500钀厓鍌靛嫏(w霉)璩囬噾鐨勬垚鏈偤10%锛屼富娆�(qu谩n)璩囬噾鐨勬垚鏈偤15%銆傚垎鍒ヨ▓绠楋細锛�1锛夋伅绋呭墠鍒╂饯EBIT锛�2锛夌稉(j墨ng)鐕熸潬妗跨郴鏁�(sh霉)DOL銆佽病鍕�(w霉)鏉犳】绯绘暩(sh霉)DFL銆佸京(f霉)鍚堟潬妗跨郴鏁�(sh霉)DCL锛�3锛変紒妤�(y猫)缍滃悎璩囬噾鎴愭湰锛�4锛夋瑠(qu谩n)鐩婁箻鏁�(sh霉)銆佸凡鐛插埄鎭€嶆暩(sh霉)锛�5锛夐姺鍞埄娼ょ巼銆侀姺鍞噲鍒╃巼
EBIT=1200/锛�1-40%锛�+7500脳20%脳10%=2150锛堣惉鍏冿級
DOL=6000脳锛�1-60%锛�/2150]=1.12
DFL=2150/[2150-7500脳20%脳10%]=1.075
DCL=1.12脳1.075=1.204
缍滃悎璩囬噾鎴愭湰=20%脳10%+80%脳15%=14%
娆�(qu谩n)鐩婁箻鏁�(sh霉)=1/锛�1-20%锛�=1.25
宸茬嵅鍒╂伅鍊嶆暩(sh霉)=2150/锛�7500脳20%脳10%锛�=14.33
閵峰敭鍒╂饯鐜�=[1200/锛�1-40%锛塢/6000=33.33%
閵峰敭鍑堝埄鐜�=1200/6000=20%
37锛屾煇鍏徃1999骞寸殑璩囬噾绲�(ji茅)妲�(g貌u)濡備笅锛氬偟鍕�(w霉)璩囬噾200钀厓锛屽勾鍒╃巼鐐�10%锛涘劒(y艒u)鍏堣偂200钀厓锛屽勾鑲″埄鐜囩偤12%锛涙櫘閫氳偂600钀厓锛屾瘡鑲￠潰鍊�10鍏�銆傚叕鍙歌▓鍔冨璩�200钀厓銆傚鏋滅櫦(f膩)琛屽偟鍒稿勾鍒╃巼鐐�8%,濡傛灉鐧�(f膩)琛岃偂绁ㄦ瘡鑲″競鍍圭偤20鍏�,浼佹キ(y猫)鎵€寰楃▍鐜囩偤30%,閫�(j矛n)琛屽璩囨槸鐧�(f膩)琛屽偟鍒搁倓鏄櫦(f膩)琛岃偂绁ㄧ殑姹虹瓥銆�
[锛圗BIT ? 200脳10% -200脳8%锛夛紙1-30%锛�-200脳12% ]/锛�600/10锛�= [锛圗BIT? 200脳10%锛夛紙1-30%锛�-200脳12%] / [锛�600/10锛� +锛� 200/20锛塢
姹傚緱锛� EBIT =166.29锛堣惉鍏冿級
鐣�(d膩ng)鐩堝埄鑳藉姏EBIT>166.29钀厓鏅�锛屽埄鐢ㄨ矤(f霉)鍌甸泦璩囪純鐐烘湁鍒╋紱鐣�(d膩ng)鐩堝埄鑳藉姏EBIT銆�166.29钀厓鏅�锛屼互鐧�(f膩)琛屾櫘閫氳偂杓冪偤鏈夊埄锛涚暥(d膩ng)EBIT=166.29钀厓鏅�锛岄噰鐢ㄥ叐绋柟寮忕劇宸垾銆�
38,鏌愪紒妤�(y猫)鐩墠鎿佹湁鍌靛埜2000钀厓锛屽勾鍒╃巼鐐�5%銆傚劒(y艒u)鍏堣偂500钀厓锛屽勾鑲″埄鐜囩偤12%銆傛櫘閫氳偂2000钀厓锛屾瘡鑲￠潰鍊�10鍏冦€傜従(xi脿n)瑷堝妰澧炶硣500钀厓锛屽璩囧悗鐨勬伅绋呭墠鍒╂饯鐐�900钀厓銆傚鏋滅櫦(f膩)琛屽偟鍒革紝骞村埄鐜囩偤8%锛涘鏋滅櫦(f膩)琛屽劒(y艒u)鍏堣偂锛屽勾鑲″埄鐜囩偤12%锛涘鏋滅櫦(f膩)琛屾櫘閫氳偂锛屾瘡鑲＄櫦(f膩)琛屽児鐐�25鍏�銆備紒妤�(y猫)鎵€寰楃▍鐜囩偤30%銆傚垎鍒ヨ▓绠楀悇绋櫦(f膩)琛屾柟寮忎笅鐨勬櫘閫氳偂姣忚偂鏀剁泭锛屽苟姹虹瓥閲囩敤浣曠ó鏂瑰紡绫岃硣銆�
鐧�(f膩)琛屽偟鍒哥殑EPS=[锛�900-2000脳5%-500脳8%锛壝楋紙1-30%锛�-500脳12%]/锛�2000/10锛�
=2.36鍏�/鑲�
鐧�(f膩)琛屽劒(y艒u)鍏堣偂EPS=[锛�900-2000脳5%锛壝楋紙1-30%锛�-锛�500+500锛壝�12%]/锛�2000/10锛�
=2.20鍏�/鑲�
鐧�(f膩)琛屾櫘閫氳偂EPS=[锛�900-2000脳5%锛壝楋紙1-30%锛�-500脳12%]锛�2000/10+500/25锛�
=2.17鍏�/鑲�
39,鏌愭姇璩囬爡鐩�锛屽缓瑷�(sh猫)鏈熶簩骞�锛岀稉(j墨ng)鐕熸湡鍏勾銆傛姇璩囨儏娉佸涓嬶細鍥哄畾璩囩敘(ch菐n)鎶曡硣1500000鍏�锛屽湪寤鸿ō(sh猫)鏈熷垵鎶曞叆1000000鍏�锛屽湪寤鸿ō(sh猫)鏈熺殑绗簩骞寸殑骞村垵鎶曞叆500000鍏冦€�300000鍏冪殑闁嬭睛璨�(f猫i)鍦ㄩ爡鐩垵鏈熸姇鍏�锛�200000鍏冪劇褰㈣硣鐢�(ch菐n)鍦ㄥ缓瑷�(sh猫)鏈熸湯鎶曞叆锛屾祦鍕曡硣閲�500000鍏冨湪缍�(j墨ng)鐕熸湡鍒濇姇鍏�銆傜櫦(f膩)鐢熷湪寤鸿ō(sh猫)鏈熺殑璩囨湰鍖栧埄鎭偤300000鍏冦€傚浐瀹氳硣鐢�(ch菐n)鎶樻寜鑸婄洿绶氭硶瑷堟彁鎶樿垔锛屾湡鏈湁200000鍏冪殑娈樺€煎洖鏀�銆傞枊杈﹁不(f猫i)銆佺劇褰㈣硣鐢�(ch菐n)鑷爡鐩稉(j墨ng)鐕熷悗鎸変簲骞存敜閵枫€傚湪闋呯洰缍�(j墨ng)鐕熺殑鍓嶅洓骞存瘡骞存閭勫€熸鍒╂伅200000鍏�銆傞爡鐩稉(j墨ng)鐕熷悗锛屽彲鐢熺敘(ch菐n)A鐢�(ch菐n)鍝�锛屾瘡骞寸殑鐢�(ch菐n)閵烽噺鐐�10000浠�锛屾瘡浠堕姺鍞児280鍏�锛屾瘡浠跺柈浣嶈畩鍕曟垚鏈�140鍏�锛屾瘡骞寸櫦(f膩)鐢熷浐瀹氭€х稉(j墨ng)鐕熸垚鏈�180000鍏�銆備紒妤�(y猫)鎵€寰楃▍绋呯巼鐐�30%銆備紒妤�(y猫)璩囬噾鎴愭湰鐐�14%銆�
鍒嗗垾瑷堢畻锛�1锛夐爡鐩▓绠楁湡锛�2锛夊師濮嬫姇璩囬銆佹姇璩囩附椤嶏紙3锛夊浐瀹氳硣鐢�(ch菐n)鍘熷€�銆佹姌鑸婇锛�4锛夊洖鏀堕锛�5锛夌稉(j墨ng)鐕熸湡鐨勫噲鍒╂饯锛�6锛夊缓瑷�(sh猫)鏈�銆佺稉(j墨ng)鐕熸湡鐨勫噲鐝�(xi脿n)閲戞祦閲忥紙7锛夋姇璩囧洖鏀舵湡锛�8锛夊噲鐝�(xi脿n)鍊硷紙9锛夊噲鐝�(xi脿n)鍊肩巼锛�10锛夌嵅鍒╂寚鏁�(sh霉)锛�11锛夊勾绛夐鍑堝洖鏀堕
瑷堢畻鏈�=2+8=10骞�
鍘熷鎶曡硣椤�=1500000+300000+200000+500000=2500000鍏�
鎶曡硣绺介=2500000+300000=2800000鍏�
鍥哄畾璩囩敘(ch菐n)鍘熷€�=1500000+300000=1800000鍏�
鎶樿垔椤�=锛�1800000-200000锛�/8=200000鍏�
鍥炴敹椤�=200000+500000=700000鍏冿紞锛嶏紞锛嶆敞锛氬洖鏀堕鐐烘畼鍊煎拰娴佸嫊璩囬噾
3-6骞寸殑缍�(j墨ng)鐕熸湡鍑堝埄娼�
=[10000脳锛�280-140锛�-180000?200000?200000/5?300000/5?200000]锛�1?30%锛� =504000锛堝厓锛�
绗�7骞寸殑缍�(j墨ng)鐕熸湡鐨勫噲鍒╂饯
=[10000脳锛�280-140锛�-180000?200000?200000/5?300000/5?0]锛�1?30%锛�
=644000鍏�
绗�8-10骞寸殑缍�(j墨ng)鐕熸湡鍑堝埄娼�
=[10000脳锛�280-140锛�-180000?200000]锛�1?30%锛� =714000鍏�
NCF0=-1000000-300000 =-1300000鍏�
NCF1=-500000鍏�
NCF2=-200000-500000=-700000鍏�
NCF3-6=504000+200000+200000/5+300000/5+200000=1004000鍏�
NCF7=644000+200000+200000/5+300000/5=944000鍏�
NCF8-9=714000+200000=914000鍏�
NCF10=914000+200000+500000=1614000鍏�
鎶曡硣鍒╂饯鐜�=[锛�504000脳4+644 000+714 000脳3锛�/8] / 2800000=21.44%
鍒€娉細280钀槸鎶曡硣绺介锛屽寘鎷硣鏈寲鍒╂伅
鎶曡硣鍥炴敹鏈�=PP = 4+ | -492000 | /1004000=4+0.49=4.49骞�
鍑堢従(xi脿n)鍊�
NPV= NCF3-6 [锛圥/A锛�14%锛�6锛�-锛圥/A锛�14%锛�2锛塢 +NCF7 [锛圥/A锛�14%锛�7锛�- 锛圥/A锛�14%锛�6锛塢+NCF8-9 [锛圥/A锛�14%锛�9锛�-锛圥/A锛�14%锛�7锛塢+NCF10 [锛圥/A锛�14%锛�10锛�- 锛� P/A锛�14%锛�9锛塢-{NCF0+NCF1锛圥/A锛�14%锛�1锛�+NCF2 [锛圥/A锛�14%锛�2锛�-锛圥/A锛�14%锛�1锛塢}
=[1000400脳锛�3.8887-1.6467锛�+944000脳锛�4.2882- 3.8887锛�+914000脳锛�4.9162 -4.2882锛�+1614000脳锛�5.2161?4.9164锛塢+[-130+锛�-50锛壝�0.8772+锛�-70锛壝楋紙1.6467?0.8772锛塢
=3685986.6?2227250=1408306.60 鍏�
鍑堢従(xi脿n)鍊肩巼NPVR=1408736.6/2277250 =61.86%
鐛插埄鎸囨暩(sh霉)PI=1+61.86%=1.6186
骞寸瓑椤嶅噲鍥炴敹椤�=NPV /锛圥/A锛�14%锛�10锛�=1408736.6/5.2161=270074.69鍏�
濡傛灉瑭叉姇璩囬爡鐩姌鐝�(xi脿n)鐜�18%锛屽噲鐝�(xi脿n)鍊肩偤璨�(f霉)59.13钀厓锛岃▓绠楀収(n猫i)閮ㄦ敹鐩婄巼銆�
IRR=14% +锛�140.87 ? 0锛�/锛�140.87 + 59.13锛壝楋紙18%-14%锛�
=14%+2.82%
=16.82%
40锛屼紒妤�(y猫)鎶曡硣瑷�(sh猫)鍌欎竴鑷�锛岃ō(sh猫)鍌欒卜鍍圭偤1锛�300锛�000鍏冿紝鍦ㄩ爡鐩枊濮嬫檪涓€娆℃姇鍏�锛岄爡鐩缓瑷�(sh猫)鏈熺偤2骞达紝鐧�(f膩)鐢熷湪寤鸿ō(sh猫)鏈熺殑璩囨湰鍖栧埄鎭�200锛�000鍏�銆傝ō(sh猫)鍌欓噰鐢ㄧ洿绶氭硶瑷堟彁鎶樿垔锛屽噲娈樺€肩巼鐐�8%銆傝ō(sh猫)鍌欐姇鐢�(ch菐n)鍚�锛屽彲缍�(j墨ng)鐕�8骞�锛屾瘡骞村彲澧炲姞鐢�(ch菐n)鍝佺敘(ch菐n)閵�4锛�200浠讹紝姣忎欢鍞児鐐�150鍏�锛屾瘡浠跺柈浣嶈畩鍕曟垚鏈�80鍏�锛屼絾姣忓勾澧炲姞鍥哄畾鎬х稉(j墨ng)鐕熸垚鏈�81锛�500鍏�銆備紒妤�(y猫)鎵€寰楃▍鐜囩偤30%銆傚垎鍒ヨ▓绠楋紙1锛夐爡鐩▓绠楁湡锛�2锛夊浐瀹氳硣鐢�(ch菐n)鍘熷€�銆佹姌鑸婇锛�3锛夌稉(j墨ng)鐕熸湡鐨勫勾鍑堝埄娼わ紙4锛夊缓瑷�(sh猫)鏈�銆佺稉(j墨ng)鐕熸湡鐨勬瘡骞村噲鐝�(xi脿n)閲戞祦閲忋€�
闋呯洰瑷堢畻鏈�=2+8 =10 骞�
鍥哄畾璩囩敘(ch菐n)鍘熷€�=1300000 + 200000 =1500000 鍏�
娈樺€�=1500000脳8% =120000鍏�
骞存姌鑸婇= [1500000脳锛�1 ? 8%锛塢 / 8 =172500鍏�
NCF0 =-1300000鍏�
NCF1 =0鍏�
NCF2 =0鍏�
NCF3 - 9 =[4200脳锛�150?80锛�-81500?172500] 脳锛�1?30%锛�+172500
=200500 鍏�
NCF10 =200500+120000=320500鍏�
41,鏌愪紒妤�(y猫)婧�(zh菙n)鍌欐洿鏂颁竴鑷哄凡鐢�5骞寸殑瑷�(sh猫)鍌�锛岀洰鍓嶅赋闈㈠児鍊肩偤180302鍏�锛岃畩鐝�(xi脿n)鏀跺叆鐐�160000鍏�銆傚彇寰楁柊瑷�(sh猫)鍌欑殑鎶曡硣椤嶇偤360000鍏冿紝鍙敤5骞�銆傛柊鑸婅ō(sh猫)鍌欏潎閲囩敤鐩寸窔鎶樿垔锛�5骞村悗鏂拌垔瑷�(sh猫)鍌欑殑娈樺€肩浉绛夈€傝ō(sh猫)鍌欐洿鏂板湪鐣�(d膩ng)骞村彲浠ュ畬鎴�銆傛洿鏂板悗绗�1骞村鍔犵嚐妤�(y猫)鏀跺叆100000鍏冿紝浣嗗鍔犵嚐妤�(y猫)鎴愭湰50000鍏�銆傜2鈥�5骞村鍔犵嚐妤�(y猫)鏀跺叆120000鍏�锛屽鍔犵嚐妤�(y猫)鎴愭湰60000鍏�銆傛墍寰楃▍鐜囩偤33%銆傝▓绠楀湪瑷堢畻鏈熷収(n猫i)鍚勫勾鐨勫樊椤嶅噲鐝�(xi脿n)閲戞祦閲忥紙螖NCF锛夈€�
鍘熷鎶曡硣=360000-160000=200000鍏�
宸鎶樿垔=锛�200000-0锛�/5=40000鍏�
鑸婅ō(sh猫)鍌欐彁鍓嶅牨寤㈠噲鎼嶅け閬炴笡鐨勬墍寰楃▍=锛�180302- 160000锛壝�33%=6700鍏�
螖NCF0 = -锛� 360 000 ?160 000锛�= - 200 000鍏�
螖NCF1 =锛�100 000?50 000?40000锛夛紙1?33%锛�+40000+6700=53400鍏�
螖NCF2-5 =锛�120000?60000?40000锛夛紙1?33%锛�+40000=53400鍏�
42锛屼紒妤�(y猫)鍘熸湁涓€鑷鸿ō(sh猫)鍌�銆傚師鍊�280000鍏冿紝鍙敤8骞�锛屽凡鐢�3骞�锛屽凡鎻愭姌鑸�100000鍏�锛岀洰鍓嶈畩鐝�(xi脿n)鏀跺叆160000鍏冿紝濡傛灉绻肩簩(x霉)浣跨敤鑸婅ō(sh猫)鍌�锛屾湡鏈湁娈樺€�5000鍏�锛屽鏋滄洿鏂拌ō(sh猫)鍌欙紝璨峰児360000钀厓锛屽彲鐢�5骞�锛屾湡鏈湁娈樺€�8000鍏�锛屾洿鏂颁笉褰遍熆鐢熺敘(ch菐n)缍�(j墨ng)鐕�銆傛柊鑸婅ō(sh猫)鍌欏潎閲囩敤鐩寸窔鎶樿垔銆傛洿鏂板悗锛屾瘡骞村鍔犵稉(j墨ng)鐕熸敹鍏�120000鍏�锛屽鍔犵稉(j墨ng)鐕熸垚鏈�60000鍏�锛屼紒妤�(y猫)鎵€寰楃▍绋呯巼鐐�30%銆傝姹傦細瑷堢畻鍚勫勾螖NCF銆�
鍘熷鎶曡硣=360000-160000=200000鍏�
宸鎶樿垔=[200000-锛�8000-5000锛塢/5=39400鍏�
鑸婅ō(sh猫)鍌欐彁鍓嶅牨寤㈠噲鎼嶅け閬炴笡鐨勬墍寰楃▍
=[锛�280000-100000锛�-160000]脳30%=6000鍏�
螖NCF0=-锛�360000?160000锛�=-200000鍏�
螖NCF1=锛�120000?60000?39400锛夛紙1- 30%锛�+39400+6000=59820鍏�
螖NCF2-4=锛�120000?60000?39400锛夛紙1-30%锛�+39400=53820鍏�
螖NCF5 = 53820+锛�8000?5000锛�=56820鍏�
43锛屼紒妤�(y猫)婧�(zh菙n)鍌欐洿鏂版敼閫犳祦姘寸窔涓€姊�锛岃┎娴佹按绶氬皻鍙娇鐢�5骞�銆傝┎娴佹按绶氱殑鍘熷€肩偤500000鍏冿紝宸叉彁鎶樿垔200000鍏�锛岀洰鍓嶈畩鐝�(xi脿n)鍍瑰€肩偤150000鍏冦€傚缓瑷�(sh猫)鏂扮殑娴佹按绶氱殑鎶曡硣椤嶇偤950000鍏�锛屽湪寤鸿ō(sh猫)鏈熶竴娆℃姇鍏�锛屽缓瑷�(sh猫)鏈熺偤1骞达紝缍�(j墨ng)鐕熸湡鐐�5骞�銆傛柊鑸婃祦姘寸窔鐨勬湡鏈噲娈樺€肩浉绛�锛屾姌鑸婂潎閲囩敤鐩寸窔娉曡▓鎻�銆傛柊鐨勬祦姘寸窔鎶曞叆浣跨敤鍚�锛屾瘡骞村彲澧炲姞鐢�(ch菐n)鍝佺殑鐢�(ch菐n)閵�8000浠讹紝鐢�(ch菐n)鍝佹瘡浠跺敭鍍圭偤240鍏�锛屾瘡浠跺柈浣嶈畩鍕曟垚鏈偤150鍏冦€傚悓鏅傛瘡骞存柊澧炵稉(j墨ng)鐕熸垚鏈�260000鍏�锛屼紒妤�(y猫)鎵€寰楃▍鐜囩偤40%銆傝姹傝▓绠楄┎鏇存柊鏀归€犻爡鐩湪鍦ㄨ▓绠楁湡鍏�(n猫i)鍚勫勾鐨勫樊椤嶅噲鐝�(xi脿n)閲戞祦閲忥紙螖NCF锛�銆�
鍘熷鎶曡硣=950000-150000=800000鍏�
宸鎶樿垔=锛�800000-0锛�/5=160000鍏�
鑸婅ō(sh猫)鍌欐彁鍓嶅牨寤㈠噲鎼嶅け閬炴笡鐨勬墍寰楃▍
=[锛�500000-200000锛�-150000]脳40%=60000鍏�
螖NCF0=-锛�950000?150000锛�=-800000鍏�
螖NCF1=60000鍏�
鍒€娉細鍑堟悕澶辨姷绋咃紝濡傛灉鏈夊缓瑷�(sh猫)鏈熺殑瑭�锛屽氨鍦ㄥ缓瑷�(sh猫)鏈熸湯渚嗚▓绠�!!
螖NCF2-6=[8000脳锛�240-150锛�-260000?160000] 脳锛�1?40%锛�+160000
=180000+160000=340000鍏�
44锛屾煇鎶曡硣闋呯洰鏈夊缓瑷�(sh猫)鏈�2骞�锛屽湪寤鸿ō(sh猫)鏈熷垵瑷�(sh猫)鍌欒硣閲�100钀厓锛屽湪绗簩骞村垵鎶曞叆瑷�(sh猫)鍌欒硣閲�50钀厓锛屽湪寤鸿ō(sh猫)鏈熸湯鎶曞叆娴佸嫊璩囬噾鍛ㄨ綁(zhu菐n)50钀�銆傞爡鐩姇鐢�(ch菐n)鍚庯紝缍�(j墨ng)鐕熸湡8骞�锛屾瘡骞村彲澧炲姞閵峰敭鐢�(ch菐n)鍝�32000浠�锛屾瘡浠跺柈鍍�120鍏冿紝姣忎欢缍�(j墨ng)鐕熸垚鏈�60鍏�銆傝ō(sh猫)鍌欓噰鐢ㄧ洿绶氭姌鑸婃硶锛屾湡鏈湁8%鐨勫噲娈樺€笺€備紒妤�(y猫)鎵€寰楃▍鐜囩偤33%锛岃硣閲戞垚鏈巼鐐�18%銆傝姹傝▓绠楄┎鎶曡硣闋呯洰鐨勫噲鐝�(xi脿n)鍊煎苟姹虹瓥瑭叉姇璩囬爡鐩槸鍚﹀彲琛�銆�
鍥哄畾璩囩敘(ch菐n)鍘熷€�=1500000鍏�
鍥哄畾璩囩敘(ch菐n)娈樺€�=1500000脳8%=120000鍏�
鍥哄畾璩囩敘(ch菐n)鎶樿垔=锛�1500000-120000锛�/8=172500鍏�
NCF0=-1000000鍏�
NCF1=-500000鍏�
NCF2=-500000鍏冿紙2269175.60锛�
NCF3-7=[32000脳锛�120-60锛�-172500] 脳锛�1-33%锛�+172500=1343325鍏�
NCF8=1343325+锛�500000+120000锛�=1963325鍏�
NPV=1343325脳[锛圥/A锛�18%锛�9锛�-锛圥/A锛�18%锛�2锛塢
+1963325脳锛圥/F锛�18%锛�10锛�-[1000000+500000锛圥/A锛�18%锛�2锛塢
=1343325脳锛�4.3030-1.5656锛�+1963325脳0.6944
-锛�1000000+500000脳1.5656锛�=2269175.60鍏�
鍥犵偤NPV=2269175.60鍏�,澶т簬0,鎵€浠ュ彲浠ラ€�(j矛n)琛岃┎闋呯洰鐨勬姇璩�.
45,浼佹キ(y猫)鎶曡硣鏌愯ō(sh猫)鍌欐姇鍏�400000璩囬噾鍏冿紝鍦ㄥ缓瑷�(sh猫)鏈熷垵涓€娆℃姇鍏�銆傞爡鐩缓瑷�(sh猫)鏈�2骞达紝缍�(j墨ng)鐕熸湡8骞�銆傛姇鐢�(ch菐n)鍚庢瘡骞存湁缍�(j墨ng)鐕熸敹鍏�324000鍏�锛屾瘡骞存湁缍�(j墨ng)鐕熸垚鏈�162000鍏�銆傝ō(sh猫)鍌欓噰鐢ㄧ洿绶氭硶鎶樿垔锛屾湡鏈湁4%鐨勫噲娈樺€�銆備紒妤�(y猫)鎵€寰楃▍鐜囩偤35%锛岃妤�(y猫)鍩烘簴(zh菙n)鏀剁泭鐜囩偤16%銆傝姹傝▓绠楋細锛�1锛夎┎鎶曡硣闋呯洰鐨勫噲鐝�(xi脿n)鍊�銆傦紙2锛変紒妤�(y猫)鎶曡硣闋呯洰鐨勫収(n猫i)閮ㄥ牨閰巼銆傦紙3锛夋焙绛栬┎鎶曡硣闋呯洰鏄惁鍙銆�
骞存姌鑸婇=400000脳锛�1-4%锛�/8=48000鍏�
鍥哄畾璩囩敘(ch菐n)浣欏€�=400000脳4%=16000鍏�
NCF0=-400000鍏�
NCF1=0鍏�
NCF2=0鍏�
NCF3-9=锛�324000?162000-48000锛壝楋紙1?35%锛�+48000=122100鍏�
NCF10 =122100+16000=138100鍏�
鐣�(d膩ng)i=16%鏅傦細NPV=122100脳[锛圥/A锛�16%锛�9锛�- 锛圥/A锛�16%锛�2锛塢
+138100脳[锛圥/A锛�16%锛�10锛�-锛圥/A锛�16%锛�9锛塢 -400000
=122100脳[4.6065?1.6052] +138 100脳[ 4.8332?4.6065]?400000
=-2234 鍏�
鐣�(d膩ng)i=14% 鏅傦細NPV=122100脳[锛圥/A锛�14锛�9锛�-锛圥/A锛�14%锛�2锛塢
+138100脳[锛圥/A锛�14%锛�10锛�-锛圥/A锛�14%锛�9锛塢 -400000
=122100脳[4.9164?1.6467]+138100脳[5.2161?4.9164]?400000
= 40 618.94鍏�
鍓囷細 IRR =14%+[40618.94/锛�40618.94+2234锛塢脳锛�16%-14%锛�
= 15.89%
鍥犵偤NPV =-2334鍏冦€� 0锛孖RR =15.89%銆堣硣閲戞垚鏈巼16%锛屾墍浠ヨ┎鏂规涓嶅彲琛�銆�
46,鏌愪紒妤�(y猫)鎿姇璩�320000鍏冭臣缃竴鑷鸿ō(sh猫)鍌�锛屽彲浣跨敤10骞�锛屾湡婊垮悗鏈夋畼鍊�20000鍏冦€備娇鐢ㄨ┎瑷�(sh猫)鍌欏彲浣胯┎寤犳瘡骞村鍔犳敹鍏�250000鍏�锛屾瘡骞撮櫎鎶樿垔浠ュ鐨勪粯鐝�(xi脿n)鐕熼亱(y霉n)鎴愭湰灏囧鍔�178000鍏�銆傚亣瀹氭姌鑸婇噰鐢ㄧ洿绶氭硶锛岃布鐝�(xi脿n)鐜囩偤12%锛屾墍寰楃▍鐜囩偤35%銆傚垎鍒ヨ▓绠楄┎鎶曡硣闋呯洰鐨勫噲鐝�(xi脿n)鍊煎拰?閮ㄦ敹鐩婄巼锛屽苟灏嶈┎鎶曡硣闋呯洰閫�(j矛n)琛屾槸鍚﹀彲琛屼綔鍑烘焙绛�銆�
骞存姌鑸婇 =锛�320000?20000锛�/10 =30000鍏�
NCF0=-320000鍏�
NCF1-9=锛�250000?178000?30000锛壝楋紙1?35%锛�+30000=57300鍏�
NCF10 = 57300+20000 =77300鍏�
鐣�(d膩ng)i=12%鏅傦細NPV=57300脳锛圥/A锛�12%锛�9锛�+77300脳锛圥/F锛�12%锛�10锛�-320000
= 57300脳5.3282+77300脳0.3220-320000
= 10196.46鍏�
鐣�(d膩ng)i=14%鏅�: NPV =57300脳锛圥/A锛�14%锛�9锛�+77300脳锛圥/F锛�14%锛�10锛�-320000
=57300脳4.9164+77300脳0.2697?320000
=-17442.47鍏�
鍓�:IRR = 12%+[10196.46/锛� 10196.46 +17442.47锛塢脳锛�14%-12%锛�
= 12.73%
鍥犵偤NPV=10196.46 銆�0锛孖RR=12.73% 銆夎硣閲戞垚鏈巼12% 锛� 鎵€浠ヨ┎鏂规鍙銆�
47锛屼紒妤�(y猫)鍘熸湁瑷�(sh猫)鍌欎竴鑷猴紝璨峰児240000鍏�锛屽彲鐢�10骞�锛屽凡鐢�2骞�锛岀洰鍓嶆竻鐞嗗噲鏀跺叆鐐�180000鍏�銆傚鏋滅辜绾�(x霉)浣跨敤鑸婅ō(sh猫)鍌欐瘡骞寸殑缍�(j墨ng)鐕熸敹鍏�120000鍏冿紝缍�(j墨ng)鐕熸垚鏈�80000鍏�锛屾湡鏈ō(sh猫)鍌欑殑娈樺€肩偤12000鍏�銆傚鏋滀紒妤�(y猫)璩肩疆涓€鑷烘柊瑷�(sh猫)鍌欐浛浠ｏ紝鐩墠甯傚児360000鍏�锛屽彲鐢�8骞�锛屾瘡骞寸稉(j墨ng)鐕熸敹鍏�180000鍏�锛岀稉(j墨ng)鐕熸垚鏈�100000鍏冿紝鏈熸湯瑷�(sh猫)鍌欐畼鍊�18000鍏�銆傛柊鑸婅ō(sh猫)鍌欏潎閲囩敤鐩寸窔鎶樿垔锛屼紒妤�(y猫)鎵€寰楃▍鐜囩偤30%锛岃姹傜殑鏈€搴曞牨閰巼鐐�10%銆傝▓绠椢擭CF銆佄擨RR骞舵焙绛栨槸鍚︽洿鏂�銆�
鍥哄畾璩囩敘(ch菐n)鍑堝€�= 240000-锛�240000?12000锛�/10脳2 =194400鍏�
螖鍘熷鎶曡硣= 360000?180000 =180000鍏�
螖鎶樿垔椤�=[180000-锛�18000?12000锛�/8 =21750鍏�
鑸婅ō(sh猫)鍌欐彁鍓嶅牨寤㈠噲鎼嶅け鎶垫笡鎵€寰楃▍=锛�194400?180000锛壝� 30% = 4320鍏�
螖NCF0=-锛�360000-180000锛�=-180000鍏�
螖NCF1=[锛�180000?120000锛�-锛�100000-80000锛�- 21750] 脳锛�1?30%锛�
+ 21750 + 4320=38845鍏�
螖NCF2-7=[锛�180000?120000锛�-锛�100000-80000锛�- 21750]脳锛�1?30%锛�+ 21750
=34525鍏�
螖NCF8 =34525+锛�18000?12000锛�=40525鍏�
鐣�(d膩ng)i=10%鏅�:
螖NPV =38845脳锛圥/F,10%,1锛� +34525脳[锛圥/A锛�10%锛�7锛�-锛圥/A锛�10%锛�1锛塢
+ 40525脳锛圥/F锛�10%锛�10锛�-180000
=38845脳0.9091+34525脳[4.8684?0.9091]+40525脳0.4665?180000
=10913.73鍏�
鐣�(d膩ng)i=12%鏅�:
螖NPV =38845脳锛圥/F,12%,1锛� +34525脳[锛圥/A锛�12%锛�7锛�-锛圥/A锛�12%锛�1锛塢
+ 40525脳锛圥/F锛�12%锛�10锛�-180000
=38845脳0.8929+34525脳[4.5638-0.8929]+40525脳0.4039?180000
=-2209.43鍏�
鍓�: 螖IRR=10%+[10913.73/锛�10913.73+2209.43锛塢脳锛�12%-10%锛�
=11.66%
鍥犵偤螖NPV=10913.73]0锛屛擨RR=12.73% ]璩囬噾鎴愭湰鐜�10%,鎵€浠ュ彲浠ラ€�(j矛n)琛屾洿鏂版敼閫�銆�.
48,浼佹キ(y猫)鏈堿銆丅銆丆銆丏銆丒浜斿€嬫姇璩囬爡鐩�锛屾湁闂�(gu膩n)鍘熷鎶曡硣椤�銆佸噲鐝�(xi脿n)鍊�銆佸噲鐝�(xi脿n)鍊肩巼銆佸拰鍏�(n猫i)閮ㄦ敹鐩婄巼鎸囨(bi膩o)濡備笅锛氾紙鍠綅锛氳惉鍏冿級
闋呯洰 鍘熷鎶曡硣 鍑堢従(xi脿n)鍊糔PV 鍑堢従(xi脿n)鍊肩巼NPVR 鍏�(n猫i)閮ㄦ敹鐩婄巼IRR
A
B
C
D
E 300200200100100 120401002230 40%20%50%22%30% 18%21%40%19%35%
锛�1锛� 鍚勬柟妗堢偤浜掓枼鏂规锛屼紒妤�(y猫)婧�(zh菙n)鍌欐姇璩囧叾涓煇涓€鏂规锛岃硣閲戞垚鏈偤15%锛�
瑭插浣曢伕鎿囨姇璩囨柟妗堬紵
锛�2锛� 浼佹キ(y猫)鎶曡硣绺介涓嶅彈闄愬埗锛屾噳(y墨ng)瑭插浣曞畨鎺掓姇璩囨柟妗�锛�
锛�3锛� 浼佹キ(y猫)鎶曡硣绺介闄愬埗鍦�200銆�300銆�400銆�450銆�500銆�600銆�700銆�800銆�900
钀厓鏅�锛屾噳(y墨ng)瑭插浣曞畨鎺掓姇璩�锛�
锛�1锛� 鍥犵偤鍚勯爡鐩姇璩囬涓嶇瓑锛屾墍浠ユ噳(y墨ng)瑭茬敤鈥滄姇璩囬脳锛堝収(n猫i)閮ㄦ敹鐩婄巼-璩囬噾鎴愭湰锛夋渶澶х殑鏂规浣滅偤鎶曡硣鏂规銆�
A闋呯洰锛�300脳锛�18%-15%锛�=9钀厓
B闋呯洰锛�200脳锛�21%-15%锛�=12钀厓
C闋呯洰锛�200脳锛�40%-15%锛�=50钀厓
D闋呯洰锛�100脳锛�19%-15%锛�=4钀厓
E闋呯洰锛�100脳锛�35%-15%锛�=20钀厓
鎵€浠ユ噳(y墨ng)瑭查伕鎿嘋闋呯洰閫�(j矛n)琛屾姇璩囥€�
锛�2锛夌敱浜庝紒妤�(y猫)鎶曡硣绺介涓嶅彈闄愬埗锛屾墍浠ユ噳(y墨ng)瑭叉寜NPV澶у皬鐨勯爢搴忛€�(j矛n)琛屽畨鎺掓姇璩囷紝鎵€浠ユ渶鍎�(y艒u)鎶曡硣绲勫悎鐐猴細A+C+B+E+D銆�
锛�3锛夌敱浜庝紒妤�(y猫)鎶曡硣绺介鍙楅檺鍒�锛屾墍浠ユ噳(y墨ng)瑭叉寜NPVR鐨勫ぇ灏忛爢搴忓苟瑷堢畻鈭慛PV閫�(j矛n)琛屽畨鎺掓姇璩囷細
鎶曡硣绺介闄愬畾鍦�200钀厓鏅傦細鈭慛PV
B=40钀厓
C=100钀厓
E+D=30+22=52钀厓
鎵€浠ユ渶鍎�(y艒u)鎶曡硣绲勫悎鐐篊闋呯洰銆�
鎶曡硣绺介闄愬畾鍦�300钀厓鏅傦細鈭慛PV
A=120钀厓
D+B=22+40=62钀厓
E+B=30+40=70钀厓
C+D=100+22=122钀厓
C+E=100+30=130钀厓
鎵€浠ユ渶鍎�(y艒u)鎶曡硣绲勫悎鐐篊+E闋呯洰銆�
鎶曡硣绺介闄愬畾鍦�400钀厓鏅傦細鈭慛PV
A+D=120+22=142钀厓
A+E=120+30=150钀厓
C+B=100+40=140钀厓
E+D+B=30+22+40=92钀厓
C+E+D=100+30+22+152钀厓
鎵€浠ユ渶鍎�(y艒u)鎶曡硣绲勫悎鐐篊+E+D闋呯洰銆�
鎶曡硣绺介闄愬畾鍦�450钀厓鏅傦細鏈€鍎�(y艒u)鎶曡硣绲勫悎鐐篊+E+D闋呯洰銆傛鏅傜疮瑷堟姇璩囬鐐�400钀厓灏忎簬450钀厓銆�
鎶曡硣绺介闄愬畾鍦�500钀厓鏅傦細鈭慛PV
A+B=120+40=160钀厓
C+A=100+120=220钀厓
A+E+D=120+30+22=172钀厓
C+D+B=100+22+40=162钀厓
C+E+B=100+30+40=170钀厓
鎵€浠ユ渶鍎�(y艒u)寰呮姇璩囩祫鍚堢偤C+A闋呯洰銆�
鎶曡硣绺介闄愬畾鍦�600钀厓鏅傦細鈭慛PV
A+D+B=120+22+40=182钀厓
A+E+B=120+30+40=190钀厓
C+A+D=100+120+22=242钀厓
C+A+E=100+120+30=250钀厓
C+E+D+B=100+30+22+40=192钀厓
鎵€浠ユ渶鍎�(y艒u)鎶曡硣绲勫悎鐐篊+A+E闋呯洰銆�
鎶曡硣绺介闄愬畾鍦�700钀厓鏅傦細鈭慛PV
C+A+B=100+120+40=260钀厓
A+E+D+B=120+30+22+40=212钀厓
C+A+E+D=100+120+30+22=272钀厓
鎵€浠ユ渶鍎�(y艒u)鎶曡硣绲勫悎鐐篊+A+E+D闋呯洰銆�
鎶曡硣绺介闄愬畾鍦�800钀厓鏅傦細鈭慛PV
C+A+D+B=100+120+22+40=282钀厓
C+A+E+B=100+120+30+40=290钀厓
鎵€浠ユ渶鍎�(y艒u)鎶曡硣绲勫悎鐐篊+A+E+B闋呯洰銆�
鎶曡硣绺介闄愬畾鍦�900钀厓鏅傦細鎶曡硣绺介涓嶅彈闄愬埗锛屾墍浠ユ噳(y墨ng)瑭叉寜NPV澶у皬鐨勯爢搴忛€�(j矛n)琛屽畨鎺掓姇璩�锛屾墍浠ユ渶鍎�(y艒u)鎶曡硣绲勫悎鐐猴細A+C+B+E+D銆�
49锛屼紒妤�(y猫)婧�(zh菙n)鍌欐姇璩囨煇鍌靛埜锛岄潰鍊�2000鍏�锛岀エ闈㈠埄鐜囩偤8%锛屾湡闄愮偤5骞达紝浼佹キ(y猫)瑕佹眰鐨勫繀瑕佹姇璩囧牨閰巼鐐�10%锛�
灏变笅鍒楁浠惰▓绠楀偟鍒哥殑鎶曡硣鍍瑰€硷細1锛屽偟鍒告瘡骞磋▓鎭竴娆�2锛屽偟鍒稿埌鏈熶竴娆￠倓鏈粯鎭�锛屽京(f霉)鍒╄▓鎭�3锛屽偟鍒稿埌鏈熶竴娆￠倓鏈粯鎭�锛屽柈鍒╄▓鎭�4锛屾姌鍍圭櫦(f膩)琛�锛屽埌鏈熷劅閭勬湰閲戙€�
姣忓勾瑷堟伅涓€娆＄殑鍌靛埜鎶曡硣鍍瑰€�
=2000脳锛圥/F锛�10%,5锛�+ 2000脳8%脳锛圥/A,10%,5锛�
=2000脳0.6209+2000脳8%+3.7908=1848.33锛堝厓锛�
锛�2锛変竴娆￠倓鏈粯鎭京(f霉)鍒╄▓鎭殑鍌靛埜鎶曡硣鍍瑰€�
=2000脳锛團/P锛�8%锛�5锛壝� 锛圥/A,10%,5锛�
=2000脳1.4693脳0.6209=1824.58锛堝厓锛�
锛�3锛変竴娆￠倓鏈粯鎭柈鍒╄▓鎭殑鍌靛埜鎶曡硣鍍瑰€�
=2000脳锛�1+8%脳5锛壝楋紙P/F,10%,5锛�
=2000脳1.4脳0.6209=1738.52锛堝厓锛�
锛�4锛夋姌鍍圭櫦(f膩)琛岀劇鎭殑鍌靛埜鎶曡硣鍍瑰€�
=2000脳锛圥/F,10%,5锛�
=2000脳0.6209=1241.80锛堝厓锛�
50锛屼紒妤�(y猫)婧�(zh菙n)鍌欐姇璩囨煇鑲＄エ锛屼笂骞存瘡鑲¤偂鍒╃偤0.45鍏�锛屼紒妤�(y猫)鐨勬湡鏈涘繀瑕佹姇璩囧牨閰巼鐐�20%锛屽氨涓嬪垪姊濅欢瑷堢畻鑲＄エ鐨勬姇璩囧児鍊硷細1锛屾湭渚嗕笁骞寸殑姣忚偂鑲″埄鍒嗗垾鐐�0.45鍏�,0.60鍏�,0.80鍏�,涓夊勾鍚庝互28鍏冪殑鍍规牸鍑哄敭2锛屾湭渚嗕笁骞寸殑姣忚偂鑲″埄鐐�0.45鍏�锛屼笁骞村悗浠ユ瘡鑲�28鍏冪殑鍍规牸鍑哄敭3锛岄暦鏈熸寔鏈�锛岃偂鍒╀笉璁�4锛岄暦鏈熸寔鏈�锛屾瘡鑲¤偂鍒╂瘡骞翠繚鎸�18%鐨勫闀风巼
锛�1锛夋湭渚嗕笁骞寸殑姣忚偂鑲″埄鍒嗗垾鐐�0.45鍏�,0.60鍏�,0.80鍏�,涓夊勾鍚庝互28鍏冪殑鍍规牸鍑哄敭鐨勬姇璩囧児鍊�
=0.45脳锛圥/F,20%,1锛�+0.60脳锛圥/F,20%,2锛�+0.80脳锛圥/F,20%,3锛�+28脳锛圥/F,20%3锛�
=0.45脳0.8333+0.6脳0.6944+0.8脳0.5787+28脳0.5787
=17.36锛堝厓锛�
锛�2锛夋湭渚嗕笁骞寸殑姣忚偂鑲″埄鐐�0.45鍏冿紝涓夊勾鍚庝互姣忚偂28鍏冪殑鍍规牸鍑哄敭鐨勬姇璩囧児鍊�
=0.45锛圥/A,20%,3锛�+28锛圥/F,20%,3锛�
=0.45脳2.1065+28脳0.5787=17.15锛堝厓锛�
锛�3锛夐暦鏈熸寔鏈�锛岃偂鍒╀笉璁婄殑鎶曡硣鍍瑰€�
=0.45 / 20% =2.25 锛堝厓锛�
锛�4锛夐暦鏈熸寔鏈�锛屾瘡鑲¤偂鍒╂瘡骞翠繚鎸�18%鐨勫闀风巼
=[0.45脳锛�1+18%锛塢/锛�20%-18%锛�=26.55锛堝厓锛�
51锛屼紒妤�(y猫)鐩墠鎶曡硣A銆丅銆丆涓夌ó鑲＄エ锛屽畠鍊戠殑尾绯绘暩(sh霉)鍒嗗垾鐐�2.4,1.8,0.6瀹冨€戠殑鎶曡硣绲勫悎姣旈噸鍒嗗垾鐐�30%銆�50%銆�20%锛岃偂绁ㄥ競鍫寸殑骞冲潎鏀剁泭鐜囩偤24%锛屽湅鍌电殑骞冲潎鎶曡硣鏀剁泭鐜囩偤8%锛屽垎鍒ヨ▓绠�1锛岀祫鍚埼茬郴鏁�(sh霉)2锛岄ⅷ(f膿ng)闅敹鐩婄巼3锛屾姇璩囨敹鐩婄巼
锛�1锛夎偂绁ㄧ祫鍚堢殑尾绯绘暩(sh霉)=危鏌愯偂绁ㄎ茬郴鏁�(sh霉)脳鏌愯偂绁ㄦ瘮閲�
=2.4脳30%+1.8脳50%+1.6脳20%
=0.72+0.90+0.12=1.74
锛�2锛夎偂绁ㄧ祫鍚堢殑棰�(f膿ng)闅敹鐩婄巼=绲勫悎尾绯绘暩(sh霉)脳锛堝競鍫村钩鍧囨敹鐩婄巼 ? 鐒￠ⅷ(f膿ng)闅敹鐩婄巼锛�
=1.74脳锛�24%-8%锛�
=1.74脳16%=27.84%
锛�3锛夎偂绁紙蹇呰锛夋姇璩囨敹鐩婄巼=鐒￠ⅷ(f膿ng)闅敹鐩婄巼 + 绲勫悎尾绯绘暩(sh霉)锛堝競鍫村钩鍧囨敹鐩婄巼 ? 鐒￠ⅷ(f膿ng)闅敹鐩婄巼锛�
=8% + 1.74脳锛�24%-8%锛�
=8%+1.74脳16%=35.84%
52锛屾煇鍏徃鐝�(xi脿n)閲戠殑鏀舵敮鐙€娉佹瘮杓冪┅(w臎n)瀹�锛岃▓鍔冨叏骞寸殑鐝�(xi脿n)閲戦渶姹傞噺鐐�1锛�440,000鍏�锛岀従(xi脿n)閲戣垏鏈夊児璀夊埜鐨勬瘡娆¤綁(zhu菐n)鎻涙垚鏈偤800鍏�锛屾湁鍍硅瓑鍒哥殑鍒╃巼鐐�16%锛�
瑕佹眰瑷堢畻锛�1锛屼紒妤�(y猫)鐩墠鎸佹湁鐝�(xi脿n)閲�240锛�000鍏�锛屽墖姗�(j墨)鏈冩垚鏈�銆佽綁(zhu菐n)鎻涙垚鏈拰鐝�(xi脿n)閲戠鐞嗙附鎴愭湰鍚勭偤澶氬皯鍏�銆�2锛岀従(xi脿n)閲戠殑鏈€浣虫寔鏈夐噺鐐哄灏戝厓锛熸湁鍍硅瓑鍒哥殑浜ゆ槗娆℃暩(sh霉)鐐哄灏戞锛熶氦鏄撶殑鏅傞枔闁撻殧澶╂暩(sh霉)鐐哄灏戝ぉ锛�3銆佹渶浣庣殑绠＄悊鎴愭湰鐐哄灏戝厓锛熷叾涓(j墨)鏈冩垚鏈�銆佽綁(zhu菐n)鎻涙垚鏈悇鐐哄灏戝厓锛�
1銆佷紒妤�(y猫)鐩墠鎸佹湁鐝�(xi脿n)閲�240000鍏�锛�
姗�(j墨)鏈冩垚鏈�=240000/2脳16%=19200锛堝厓锛�
杞�(zhu菐n)鎻涙垚鏈�=1440000/240000脳800=4800锛堝厓锛�
鐝�(xi脿n)閲戠鐞嗙浉闂�(gu膩n)绺芥垚鏈�=19200+4800=24000锛堝厓锛�
2銆佺従(xi脿n)閲戠殑鏈€浣虫寔鏈夐噺=锛�2脳1440000脳800/16%锛�1/2
=120000锛堝厓锛�
鏈夊児璀夊埜浜ゆ槗娆℃暩(sh霉)=1440000/120000=12锛堟锛�
浜ゆ槗鏅傞枔闁撻殧澶╂暩(sh霉)=360/12 =30锛堝ぉ锛�
3銆佹渶浣庣鐞嗘垚鏈�=锛�2脳1440000脳800脳16%锛�1/2
=19200锛堝厓锛�
姗�(j墨)鏈冩垚鏈�=120000/2脳16%=9600锛堝厓锛�
杞�(zhu菐n)鎻涙垚鏈�=1440000/120000脳800=9600锛堝厓锛�
53,鏌愪紒妤�(y猫)2000骞磋硳閵峰噲椤嶇偤240钀厓锛屾噳(y墨ng)鏀跺赋娆惧钩鍧囨敹娆惧ぉ鏁�(sh霉)鐐�45澶╋紝浼佹キ(y猫)璁婂嫊鎴愭湰鐜囩偤60%锛岀ぞ鏈冭硣閲戞垚鏈巼鐐�15%锛屽墖鎳�(y墨ng)鏀跺赋娆剧殑鍛ㄨ綁(zhu菐n)鐜�銆佸钩鍧囦綑椤�銆佺董鎸佽硳閵锋キ(y猫)鍕�(w霉)鎵€闇€鐨勮硣閲戝強姗�(j墨)鏈冩垚鏈垎鍒ョ偤鐐哄灏戯紵
鎳�(y墨ng)鏀惰超娆惧钩鍧囦綑椤�=锛�240脳45锛�/360=30锛堣惉鍏冿級
缍寔璩掗姺妤�(y猫)鍕�(w霉)鎵€闇€璩囬噾=30脳60%=18锛堣惉鍏冿級
姗�(j墨)鏈冩垚鏈�=18脳15%=2.7锛堣惉鍏冿級
姗�(j墨)鏈冩垚鏈�=[锛�240 脳45锛�/360]脳60%脳15% =2.7锛堣惉鍏冿級
54锛屾煇鍏徃鐩墠瑷堝妰鍟嗗搧璩掗姺鍑堥鐐�480钀厓锛屾噳(y墨ng)鏀跺赋娆剧殑骞冲潎鏀舵鏈熺偤30澶╋紝涓嶈€冩叜鐝�(xi脿n)閲戞姌鎵�锛屼絾浼拌▓鐨勭殑澹炲赋鎼嶅け鍗犺硳閵峰噲椤嶇殑4%锛屽叏骞寸殑鏀跺赋璨�(f猫i)鐢ㄤ及瑷堢偤5钀厓銆傚鏋滃皣鎳�(y墨ng)鏀跺赋娆剧殑鏀舵鏈熸彁楂樺埌60澶�锛屼篃涓嶈€冩叜鐝�(xi脿n)閲戞姌鎵�锛屽墖鍟嗗搧鐨勮硳閵峰噲椤嶅皣鐐�720钀厓锛屼絾浼拌▓鐨勫甯虫悕澶卞崰鍟嗗搧璩掗姺鍑堥鐨�5%锛屽叏骞寸殑鏀跺赋璨�(f猫i)鐢ㄧ偤8钀厓銆備紒妤�(y猫)鐨勮畩鍕曟垚鏈巼鐐�70%锛屾湁鍍硅瓑鍒哥殑鍒╂伅鐜囩偤12%銆備紒妤�(y猫)鎳�(y墨ng)鑰冩叜鐨勪俊鐢ㄦ敹娆炬湡鐐哄灏戝ぉ锛�
骞冲潎鏀舵鏈熺偤30澶�:
淇＄敤鎴愭湰鍓嶇殑鏀剁泭=480脳锛�1-70%锛�=144钀厓
姗�(j墨)鏈冩垚鏈�=锛�480脳30/360锛壝�70%脳12%=3.36钀厓
绠＄悊鎴愭湰=5钀厓
澹炲赋鎴愭湰=480脳4%=19.2钀厓
淇＄敤鎴愭湰鍚庣殑鏀剁泭=144-3.36-5-19.2=116.44钀厓
骞冲潎鏀舵鏈熺偤60澶�:
淇＄敤鎴愭湰鍓嶇殑鏀剁泭=720脳锛�1-70%锛�=216钀厓
姗�(j墨)鏈冩垚鏈�=锛�720脳60/360锛� 脳70%脳12%=10.08钀厓
绠＄悊鎴愭湰=8钀厓
澹炲赋鎴愭湰=720脳5%=36钀厓
淇＄敤鎴愭湰鍚庣殑鏀剁泭=216-10.08-8-36=161.92钀厓
鎵€浠�,骞冲潎鏀舵鏈熺偤30澶╃殑淇＄敤鎴愭湰鍚庣殑鏀剁泭116.44钀厓灏忎簬閲囩敤60澶╃殑鏀跺赋鏈熺殑淇＄敤鎴愭湰鍚庣殑鏀剁泭161.92钀厓銆備紒妤�(y猫)鎳�(y墨ng)鑰冩叜60澶╃殑鏀舵鏈�銆�
鍒€娉細璜稿姹備俊鐢ㄥ懆杞�(zhu菐n)鏈熺殑鍟忛锛屼富瑕佸氨鏄畻涓€涓嬩笉鍚屾柟妗堜俊鐢ㄦ垚鏈悗鏀剁泭澶у皬鐨勫晱椤�銆�
55锛屾煇浼佹キ(y猫)鐩墠鍟嗗搧璩掗姺鍑堥鐐�5锛�400锛�000鍏�锛屾噳(y墨ng)鏀跺赋娆剧殑骞冲潎鏀舵澶╂暩(sh霉)鐐�45澶�锛岀劇鐝�(xi脿n)閲戞姌鎵�锛屽甯虫悕澶卞崰璩掗姺鍑堥鐨�8%锛屽叏骞寸殑鏀跺赋璨�(f猫i)鐢ㄧ偤75锛�000鍏�?锛孎(xi脿n)瑷堝妰鑰冩叜灏囦俊鐢ㄦ浠惰(di脿o)鏁寸偤锛�5/10锛�2/30锛孨/60锛夛紝闋�(y霉)瑷堟湁30%鐨勫鎴跺湪10澶╁収(n猫i)浠樻锛屾湁50%鐨勫鎴跺湪30澶╁収(n猫i)浠樻锛屾湁20%鐨勫鎴跺湪60澶╁収(n猫i)浠樻銆傛敼璁婁俊鐢ㄦ浠跺悗锛屽晢鍝佽硳閵峰噲椤嶅彲閬�(d谩)鍒�7锛�200锛�000鍏�锛屽甯虫悕澶卞崰璩掗姺鍑堥鐨�6%锛屽叏骞寸殑鏀跺赋璨�(f猫i)鐢ㄧ偤52锛�000鍏�銆備紒妤�(y猫)鐨勮畩鍕曟垚鏈巼鐐�65%锛岃硣閲戞垚鏈巼鐐�14%锛屼紒妤�(y猫)鏄惁瑕佹敼璁婁俊鐢ㄦ(bi膩o)婧�(zh菙n)锛�
鎳�(y墨ng)鏀跺赋娆剧殑骞冲潎鏀舵澶╂暩(sh霉)鐐�45澶�锛岀劇鐝�(xi脿n)閲戞姌鎵ｏ細
淇＄敤鎴愭湰鍓嶇殑鏀剁泭=5400000脳锛�1-65%锛�=1890000鍏�
姗�(j墨)鏈冩垚鏈�=锛�5400000脳45/360锛壝�65%脳14%=61425鍏�
绠＄悊鎴愭湰=75000鍏�
澹炲赋鎴愭湰=5400000脳8%=432000鍏�
淇＄敤鎴愭湰鍚庣殑鏀剁泭=1890000-61425-75000-432000=1321575鍏�
鏀硅畩淇＄敤姊濅欢锛屾湁鐝�(xi脿n)閲戞姌鎵ｏ細
鎳�(y墨ng)鏀跺赋娆惧钩鍧囨敹娆炬湡=10脳30%+30脳50%+60脳20%=30澶�
鐝�(xi脿n)閲戞姌鎵�=7200000脳锛�5%脳30%+2%脳50%锛�=180000鍏�
淇＄敤鎴愭湰鍓嶇殑鏀剁泭=7200000脳锛�1-65%锛�-180000=2340000鍏�
姗�(j墨)鏈冩垚鏈�=锛�7200000脳30/360锛壝�65%脳14%=54600鍏�
绠＄悊鎴愭湰=52000鍏�
澹炲赋鎴愭湰=7200000脳6%=432000鍏�
淇＄敤鎴愭湰鍚庣殑鏀剁泭=2340000-54600-52000-432000=1801400鍏�
鎵€浠�锛屾敼璁婁俊鐢ㄦ浠跺墠鐨勪俊鐢ㄦ垚鏈悗鏀剁泭鐐�1321575鍏冨皬浜庢敼璁婁俊鐢ㄦ浠跺悗鐨勪俊鐢ㄦ垚鏈悗鏀剁泭鐐�18014000鍏�锛屽彲浠ユ敼璁婁俊鐢ㄦ(bi膩o)婧�(zh菙n)銆�
56锛屾煇鍏徃鍟嗗搧璩掗姺鍑堥鐐�960钀厓锛岃畩鍕曟垚鏈巼鐐�65%锛岃硣閲戝埄鐜囩偤20%锛屽湪鐝�(xi脿n)鏈夌殑鏀跺赋鏀跨瓥涓�锛屽叏骞寸殑鏀跺赋璨�(f猫i)鐢ㄧ偤10钀厓锛屽甯虫悕澶辩巼鐐�8%锛屽钩鍧囨敹娆惧ぉ鏁�(sh霉)鐐�72澶�銆傚鏋滄敼璁婃敹甯虫斂绛栵紝鍏ㄥ勾鐨勬敹甯宠不(f猫i)鐢ㄧ偤16钀厓锛屽甯虫悕澶辩巼鐐�5%锛屽钩鍧囨敹娆惧ぉ鏁�(sh霉)鐐�45澶�銆備紒妤�(y猫)鏄惁瑕佹敼璁婃敹甯虫斂绛栵紵
鍘熶締鏀跺赋鏀跨瓥鐨勪俊鐢ㄦ垚鏈細
姗�(j墨)鏈冩垚鏈�=锛�960脳72/360锛壝�65%脳20%=24.96钀厓
绠＄悊鎴愭湰=10钀厓
澹炲赋鎴愭湰=960脳8%=76.8钀厓
淇＄敤鎴愭湰=24.96+10+76.8=111.76钀厓
鏀硅畩鏀跺赋鏀跨瓥鐨勪俊鐢ㄦ垚鏈�:
姗�(j墨)鏈冩垚鏈�=锛�960脳45/360锛� 脳65%脳20%=15.6钀厓
绠＄悊鎴愭湰=16钀厓
澹炲赋鎴愭湰=960脳5%=48钀厓
淇＄敤鎴愭湰=15.6+16+48=79.6钀厓
鎵€浠�,鍦ㄥ師渚嗘敹甯虫斂绛栦笅鐨勪俊鐢ㄦ垚鏈偤111.76钀厓,鏀硅畩鏀跺赋鏀跨瓥鍚庣殑淇＄敤鎴愭湰鐐�79.6钀厓.鍙互鏀硅畩鏀跺赋鏀跨瓥銆�
57锛屾煇鍏徃鍏ㄥ勾闇€瑕佺敳鏉愭枡720锛�000鍗冨厠锛屾瘡娆＄殑閲囪臣璨�(f猫i)鐢ㄧ偤800鍏�锛屾瘡鍗冨厠鐨勬潗鏂欎繚绠¤不(f猫i)鐐�0.08鍏冦€傝姹傝▓绠楋細1锛屾瘡娆￠噰璩兼潗鏂�6锛�000鍗冨厠锛屽墖鍎插瓨鎴愭湰銆侀€�(j矛n)璨ㄨ不(f猫i)鐢ㄥ強瀛樿波绺芥垚鏈偤澶氬皯鍏�锛�2锛岀稉(j墨ng)婵�(j矛)鎵归噺鐐哄灏戝崈鍏�锛熷叏骞撮€�(j矛n)璨ㄦ鏁�(sh霉)鐐哄灏戞锛熼€�(j矛n)璨ㄩ枔闅旀檪闁撶偤澶氬皯澶�锛�3锛屾渶浣庣殑瀛樿波鎴愭湰鐐哄灏戝厓锛熷叾涓劜瀛樻垚鏈�銆侀€�(j矛n)璨ㄨ不(f猫i)鐢ㄧ偤澶氬皯鍏�锛�
1銆佸劜瀛樻垚鏈�=6000/2脳0.08 = 240锛堝厓锛�
閫�(j矛n)璨ㄨ不(f猫i)鐢�=锛�720000/6000锛壝�800=96000锛堝厓锛�
瀛樿波鐩搁棞(gu膩n)绺芥垚鏈� = 240 +96000 =96240锛堝厓锛�
2銆佸瓨璨ㄧ稉(j墨ng)婵�(j矛)閫�(j矛n)璨ㄦ壒閲� = 锛�2脳720000脳800 / 0.08 锛�1 / 2 =120000锛堝崈鍏嬶級
鍏ㄥ勾閫�(j矛n)璨ㄦ鏁�(sh霉)=720000/120000=6锛� 娆★級
閫�(j矛n)璨ㄩ枔闅旀檪闁�= 360 / 6 =60锛堝ぉ锛�
3銆佹渶浣庡瓨璨ㄦ垚鏈�=锛�2脳720000脳800脳0.08锛�1/2 =9600锛堝厓锛�
鍎插瓨鎴愭湰= 120000/2 脳 0.08 = 4800锛堝厓锛�
閫�(j矛n)璨ㄨ不(f猫i)鐢�=720000/120000*6 = 4800锛堝厓锛�
58锛屾煇浼佹キ(y猫)A鏉愭枡鐨勫叏骞撮渶姹傞噺鐐�360锛�000鍗冨厠锛屾瘡鍗冨厠鐨勯€�(j矛n)鍍规(bi膩o)婧�(zh菙n)鍍圭偤24鍏冿紝渚涜波鍟嗚(gu墨)瀹氾細濡傛灉姣忔閲囪臣90锛�000鍗冨厠浠ヤ笂180锛�000鍗冨厠浠ヤ笅鐨�锛屽児鏍煎劒(y艒u)鎯�4%锛涘鏋滄瘡娆￠噰璩�180锛�000鍗冨厠浠ヤ笂锛屽児鏍煎劒(y艒u)鎯�5%?锛孎(xi脿n)鍦ㄦ瘡娆℃潗鏂欓噰璩艰不(f猫i)鐢ㄧ偤1锛�600鍏�锛屾瘡鍗冨厠鐨勫劜瀛樻垚鏈偤1.28鍏�銆傚墖瀛樿波鐨勬渶浣抽€�(j矛n)璨ㄦ壒閲忕偤澶氬皯鍗冨厠锛�
缍�(j墨ng)婵�(j矛)閫�(j矛n)璨ㄦ壒閲�=锛�2脳360000脳1600/1.28锛�1/2= 30 000锛堝崈鍏嬶級
姣忔閫�(j矛n)璨�30 000鍗冨厠鏅傚瓨璨ㄧ浉闂�(gu膩n)绺芥垚鏈偤锛�
瀛樿波鐩搁棞(gu膩n)绺芥垚鏈�=360000脳24+锛�360000/30000锛壝�1600+锛�30000/2锛壝�1.28
= 8 678 400 锛堝厓锛�
姣忔閫�(j矛n)璨�90 000鍗冨厠鏅傚瓨璨ㄧ浉闂�(gu膩n)绺芥垚鏈偤锛�
瀛樿波鐩搁棞(gu膩n)绺芥垚鏈�=360000脳24脳锛�1?4%锛�+锛�360000/90000锛壝�1600 +锛�90000 / 2锛壝�1.28 = 8358400 锛堝厓锛�
姣忔閫�(j矛n)璨�180 000鍗冨厠鏅傚瓨璨ㄧ浉闂�(gu膩n)绺芥垚鏈偤
瀛樿波鐩搁棞(gu膩n)绺芥垚鏈�=360000脳24脳锛�1?5%锛�+锛�360000 / 180000锛壝�1600 +锛�180000 / 2 锛壝�1.28=8326400锛堝厓锛�
閫氶亷姣旇純鐧�(f膩)鐝�(xi脿n)锛屾瘡娆￠€�(j矛n)璨ㄧ偤180000鍗冨厠鏅傜殑瀛樿波鐩搁棞(gu膩n)绺芥垚鏈渶浣�锛屾鏅傛渶浣崇稉(j墨ng)婵�(j矛)閫�(j矛n)璨ㄦ壒閲忕偤180000鍗冨厠銆�
59锛屾煇浼佹キ(y猫)鍏ㄥ勾闇€瑕丅鏉愭枡640锛�000鍗冨厠锛屾瘡娆￠€�(j矛n)璨ㄨ不(f猫i)鐢ㄧ偤800鍏冿紝姣忓崈鍏嬬殑鍎插瓨鎴愭湰鐐�9鍏�锛屾瘡鍗冨厠鐨勭己璨ㄦ垚鏈偤3鍏�锛屽墖鍏佽ū缂鸿波鎯呮硜涓嬬殑缍�(j墨ng)婵�(j矛)鎵归噺鍜屽钩鍧囩己璨ㄩ噺鍊嬬偤澶氬皯鍗冨厠锛�
鍏佽ū缂鸿波缍�(j墨ng)婵�(j矛)鎵归噺=[2脳640000脳800/9脳锛�9+3锛�/ 3]]1/2 = 21333.33锛堝崈鍏嬶級
骞冲潎缂鸿波閲�=21333.33 脳 9/锛�9+3锛�=21333.33 脳 0.75 = 16 000锛堝崈鍏嬶級
60锛屾煇鍟嗗搧娴侀€氫紒妤�(y猫)璩奸€�(j矛n)C鍟嗗搧3600浠�锛屾瘡浠堕€�(j矛n)鍍�80鍏�锛屾瘡浠跺敭鍍�100鍏�銆傜稉(j墨ng)閵疯┎鎵瑰晢鍝佺殑涓€娆℃€ц不(f猫i)鐢ㄧ偤20锛�000鍏冦€傝波娆惧潎渚嗚嚜閵€琛屽€熸锛屽勾鍒╃巼鐐�7.2%銆傚晢鍝佺殑鏈堜繚绠¤不(f猫i)鐜囩偤3.6鈥帮紝鍟嗗搧鐨勯姺鍞▍閲戠巼鐐�3鈥�銆傝姹傝▓绠楋細1锛屼繚鏈劜瀛樻湡2锛屼紒妤�(y猫)瑕佹眰3%鐨勬姇璩囧埄娼ょ巼锛屼繚鍒╁劜瀛樻湡3锛岃┎鍟嗗搧瀵﹂殯鍎插瓨浜�120澶�锛岀泩铏ч鐐哄灏戝厓锛�4锛岃┎鍟嗗搧铏ф悕浜�2400鍏冿紝瀵﹂殯鍎插瓨浜嗗灏戝ぉ锛�
姣忔棩璨�(f猫i)鐢�=3600脳80脳锛�7.2%/360+3鈥�/30锛�=92.16 锛堝厓锛�
淇濇湰鍎插瓨鏈�=[3600脳锛�100-80锛�- 3600脳100脳3鈥� ? 20000]/92.16
=553澶�
淇濆埄鍎插瓨鏈�=553?3600脳80脳3%/92.16=553?93.75=459 澶�
瀵﹂殯鐩堣櫑椤�=92.16脳锛�553-120锛�=92.16脳433 =39905.28 鍏�
瀵﹂殯鍎插瓨鏈�= 553-锛�-2400锛�/92.16 = 553 + 26=579澶�
61锛屾煇鍟嗘キ(y猫)浼佹キ(y猫)锛岃臣閫�(j矛n)鍟嗗搧4000浠�锛屾瘡浠堕€�(j矛n)鍍�1000鍏冿紝姣忎欢鍞児1250鍏�锛岃波娆惧潎渚嗚嚜閵€琛岋紝骞村埄鐜�14.4%锛屽晢鍝佺殑鏈堜繚绠¤不(f猫i)27000鍏冿紝鍥哄畾鍎插瓨璨�(f猫i)鐢�400 000鍏�锛岄姺鍞▍閲戝強闄勫姞鐐�250 000鍏�锛屽垎鍒ヨ▓绠楋紙1锛夊钩鍧囦繚鏈湡锛堟寚瑕佹眰瑷堢畻鍎插瓨鏈熺偤澶氬皯澶╋級锛�2锛夊鏋滆┎鍟嗗搧鏈€绲傚鐝�(xi脿n)鍒╂饯100000鍏冿紝鍓囪▓绠楀钩鍧囧劜瀛樻湡銆佸闅涢浂鍞ぉ鏁�(sh霉)銆佹棩鍧囬姺閲忓垎鍒ョ偤澶氬皯锛燂紙3锛夊鏋滈姺鍞┎鍟嗗搧锛岃櫑鎼�75000鍏�锛屽墖瀵﹂殯闆跺敭澶╂暩(sh霉)銆佹棩鍧囬姺閲忓垎鍒ョ偤澶氬皯锛燂紙4锛夐浂鍞┎鍟嗗搧瀵﹂殯闆跺敭澶╂暩(sh霉)鐐�109澶�锛屾渶绲傜殑鐩堣櫑椤嶇偤澶氬皯鍏冿紵锛�5锛夊鏋滅稉(j墨ng)閵疯┎鍟嗗搧锛屾棩鍧囬姺閲忕偤25浠�锛屾渶绲傜泩铏ч鐐哄灏戝厓锛�
姣忔棩璨�(f猫i)鐢�=4000脳1000脳14.4% / 360 + 27000 /30=2500锛堝厓锛�
锛�1锛夊钩鍧囦繚鏈湡锛堝劜瀛樻湡锛�=[锛�4000 脳 1250 ? 4000 脳 1000锛�- 400 000 ? 250000 ] / 2500=140 锛堝ぉ锛�
锛�2锛夎ō(sh猫)骞冲潎鍎插瓨鏈熺偤 X
鍓囷細100000 = 2500脳锛�140 ? X锛� X= 100 锛堝ぉ锛�
骞冲潎瀵﹂殯鍎插瓨鏈�=100锛堝ぉ锛�
瑷�(sh猫)瀵﹂殯闆跺敭澶╂暩(sh霉) 鐐篩锛�
鍓囷細100 =锛圷 + 1锛�/ 2 Y =199 锛堝ぉ锛�
瀵﹂殯闆跺敭澶╂暩(sh霉)=199锛堝ぉ锛�
鏃ュ潎閵烽噺= 4000 / 199 = 20 锛堜欢锛�
锛�3锛夐浂鍞ぉ鏁�(sh霉)鐐篨
鍓囷細- 75000 = 2500 脳 [ 140 -锛� X+1锛�/ 2 ] X = 339 锛堝ぉ锛�
瀵﹂殯闆跺敭澶╂暩(sh霉)鐐�339澶�
鏃ュ潎閵烽噺= 4000 / 339= 10锛堜欢锛�
锛�4锛夊闅涚泩铏ч= 2500脳[140-锛�109 + 1锛�/2]=212500 锛堝厓锛�
锛�5锛夊闅涚泩铏ч= 2500脳[140-锛圼4000/25]+1锛�/2]=147500 锛堝厓锛�
鍒€娉細閫欑ó鍟忛鐨勯亱(y霉n)绠�锛屼笉鏄庣櫧涔熶笉瑕佸幓杩界偤浠€涔�锛岃浣忎笂渚嗗厛绠楁瘡鏃ヨ畩鍕曞劜瀛樿不(f猫i)锛岃娉ㄦ剰鏈夌殑绲︾殑鏄瘮鐜囨湁鐨勬槸璨�(f猫i)鐢�锛涘悓妯ｇ殑閬撶悊锛岀畻鐝�(xi脿n)閲戞祦閲忔檪锛岄鍏堣鎶婃姌鑸婂紕鍑轰締銆備笉鏄庣櫧涓嶈绶婏紝鑳界畻浠€涔堢畻浠€涔�銆�
62锛屾煇闆跺敭鍟嗗搧娴侀€氫紒妤�(y猫)璩奸€�(j矛n)鍟嗗搧2000浠�锛屾瘡浠堕€�(j矛n)鍍�1000鍏�锛屾瘡浠跺敭鍍�1250鍏�銆傝┎璨ㄦ鍧囦締鑷妧琛屽瓨娆�锛屾湀鍒╃巼鐐�12%锛屾湀瀛樿波淇濈璨�(f猫i)鐐�9420鍏�锛屽浐瀹氬劜瀛樹繚绠¤不(f猫i)鐐�200000鍏�锛屽晢鍝侀姺鍞▍閲戝強闄勫姞125000鍏�銆傝姹傝▓绠楋細1锛屼繚鏈劜瀛樻湡2锛屽鏋滆┎鍟嗗搧瀵︾従(xi脿n)鍒╂饯鐐�50000鍏�锛屽墖瑭插晢鍝佺殑鏃ュ潎閵烽噺澶氬皯浠�锛熼姺鍞灏戝ぉ锛�
姣忔棩璨�(f猫i)鐢�=2000脳1000脳12% / 30 + 9420 / 30=8314锛堝厓锛夛紞锛嶏紞锛嶅垁娉細鍏堢畻閫欐锛屾案閬�(yu菐n)涓嶈畩
1銆佷繚鏈劜瀛樻湡=[2000脳锛�1250?1000锛�-200000?125000] /8314= 21 锛堝ぉ锛�
2銆佽ō(sh猫)骞冲潎鍎插瓨鏈熺偤 X 锛�
鍓囷細50000= 8314脳锛�21?X锛� X=15锛堝ぉ锛�
骞冲潎鍎插瓨鏈熺偤15澶�
瑷�(sh猫)瀵﹂殯閵峰敭澶╂暩(sh霉)鐐篩锛�
鍓囷細15 =锛圷+ 1锛�/2 Y= 29 锛堝ぉ锛�
瀵﹂殯闆跺敭澶╂暩(sh霉)鐐�29澶�
鏃ュ潎閵烽噺= 2000 / 29=69锛堜欢锛�
鍒€娉細姝ら鍟忛閭勮娉ㄦ剰涓€瀹氳瑷樺緱鐪嬩竴涓嬫姮闋槸闆跺敭浼佹キ(y猫)閭勬槸鎵归€�(j矛n)鎵瑰嚭锛�
63锛屾煇鍏徃2000骞存彁鍙栧叕绌嶉噾銆佸叕鐩婇噾鍚庣殑鍑堝埄娼ょ偤1240钀厓锛岃▓鍔�2001骞存柊澧炴姇璩囪硣閲�840钀厓锛屽叕鍙哥洰鍓嶈硣閲戠祼(ji茅)妲�(g貌u)杓冪偤鍚堢悊锛岃硣鐢�(ch菐n)璨�(f霉)鍌电巼鐐�40%锛屾寜鐓у墿浣欒偂鍒╂斂绛栵紝2000骞寸殑鍙互鍚戞姇璩囪憲鍒嗛厤鐨勫埄娼ょ偤澶氬皯鍏�锛�
鍙緵鎶曡硣鑰呭垎閰嶇殑鍒╂饯=1240銆€?銆傘剤f鍏冿級
鍓╀綑鑲″埄= 1240?840 脳锛�1-40%锛�=736 锛堣惉鍏冿級
鍒€娉細姝ょ瓟妗堝凡缍�(j墨ng)鎴戞渻鍚屽叾浠栧悓瀛�(xu茅)淇敼
64锛屾煇鍏徃鎳�(y墨ng)鏀跺赋娆剧殑鍥炴敹鎯呮硜鐐虹暥(d膩ng)鏈堥姺璨ㄦ鍙互鏀跺洖40%锛岀浜屽€嬫湀鍙互鏀跺洖30%锛岀涓夊€嬫湀鍙互鏀跺洖28%锛屾湁2%鐨勮波娆剧劇娉曟敹鍥�銆傚叕鍙稿叏骞寸稉(j墨ng)鐕烝鐢�(ch菐n)鍝�锛屾瘡浠跺敭鍍�240鍏�锛�5鏈堜唤瀵﹂殯閵峰敭2500浠讹紝6鏈堜唤瀵﹂殯閵峰敭2800浠�銆傝▓鍔�7鏈堜唤閵峰敭3200浠讹紝8鏈堜唤閵峰敭2950浠�锛�9鏈堜唤閵峰敭3400浠�銆傜法鍒剁涓夊搴︾殑鐝�(xi脿n)閲戞敹鍏ラ爯(y霉)绠�銆�
7鏈堜唤鐝�(xi脿n)閲戞敹鍏�=锛�3200脳40%+2800脳30%+2500脳28%锛壝�240=676800鍏�
8鏈堜唤鐝�(xi脿n)閲戞敹鍏�=锛�2950脳40%+3200脳30%+2800脳28%锛壝�240=701760鍏�
9鏈堜唤鐝�(xi脿n)閲戞敹鍏�=锛�3400脳40%+2950脳30%+3200脳28%锛壝�240=753840鍏�
鏈堜唤 5鏈堜唤 6鏈堜唤 7鏈堝垎 8鏈堜唤 9鏈堜唤
閵峰敭鏀跺叆 600000 672000 768000 708000 816000
鏀跺洖40%鏀跺洖30%鏀跺洖28% 307200201600168000 283200230400188160 326400212400215040
鐝�(xi脿n)閲戞敹鍏� 676800 701760 753840
65锛屾煇浼佹キ(y猫)浼佹キ(y猫)鍏ㄥ勾鐢熺敘(ch菐n)B鐢�(ch菐n)鍝�锛岃▓鍔冩瘡瀛ｅ害鐨勭敘(ch菐n)閲忓垎鍒ョ偤1400浠�銆�1800浠躲€�1600浠�銆�1500浠�銆侭鐢�(ch菐n)鍝佹瘡浠惰€楃敤鍘熸潗鏂�5KG锛屾瘡KG鐨勬潗鏂欏柈鍍规牸12鍏�銆傚勾鍒濇湁鍘熸潗鏂�800KG锛岃姹傛瘡瀛ｆ湯淇濇寔涓嬪鐢熺敘(ch菐n)鐢ㄩ噺鐨�15%锛屽勾鏈繚鎸�1000KG鐨勫瓨閲忋€傝臣璨锋潗鏂欑殑娆鹃爡鐣�(d膩ng)瀛ｆ敮浠�60%锛岀浜屽搴︽敮浠�40%銆傚勾鍒濇湁鎳�(y墨ng)浠樺赋娆�35000鍏冦€傜法鍒堕噰璩兼潗鏂欑殑鐝�(xi脿n)閲戞敮鍑洪爯(y霉)绠�銆�
绗竴瀛ｅ害閲囪臣閲�=1400脳5+1800脳5脳15%-800=7550KG
绗簩瀛ｅ害閲囪臣閲�=1800脳5+1600脳5脳15%-1800脳5脳15%=8850KG
绗笁瀛ｅ害閲囪臣閲�=1600脳5+1500脳5脳15%-1600脳5脳15%=7925KG
绗洓瀛ｅ害閲囪臣閲�=1500脳5+1000-1500脳5脳15%=7375KG
瀛ｅ害 绗竴瀛ｅ害 绗簩瀛ｅ害 绗笁瀛ｅ害 绗洓瀛ｅ害
娑堣€楅噺鏈熸湯閲忔湡鍒濋噺閲囪臣閲� 700013508007550 9000120013508850 8000112512007925 7500100011257375
绗竴瀛ｅ害鏉愭枡鐝�(xi脿n)閲戞敮鍑�=7550脳12脳60%+35000=89360鍏�
绗簩瀛ｅ害鏉愭枡鐝�(xi脿n)閲戞敮鍑�=8850脳12脳60%+7550脳12脳40%=99960鍏�
绗笁瀛ｅ害鏉愭枡鐝�(xi脿n)閲戞敮鍑�=7925脳12脳60%+8850脳12脳40%=99540鍏�
绗洓瀛ｅ害鏉愭枡鐝�(xi脿n)閲戞敮鍑�=7375脳12脳60%+7925脳12脳40%=91140鍏�
瀛ｅ害 绗竴瀛ｅ害 绗簩瀛ｅ害 绗笁瀛ｅ害 绗洓瀛ｅ害
鏀粯60%鏀粯40%鐝�(xi脿n)閲戞敮鍑� 543603500089360 637203624099960 570604248099540 531003804091140
66锛屾煇鍏徃2001骞村垵鏈夌従(xi脿n)閲戜綑椤�5500鍏冿紝鎳�(y墨ng)鏀跺赋娆句綑椤�45000鍏�锛屾噳(y墨ng)浠樺赋娆句綑椤�9400鍏�锛孉鏉愭枡1030KG锛孊鏉愭枡830KG锛岀敳鐢�(ch菐n)鍝�100浠�銆傝▓鍔�2001骞存瘡瀛ｅ害閵峰敭鐢茬敘(ch菐n)鍝佸垎鍒ョ偤1100浠�銆�1600浠躲€�2000浠�銆�1500浠�锛屾瘡瀛ｅ害鏈韩瀛樼敳鐢�(ch菐n)鍝佸垎鍒ョ偤160浠�銆�200浠躲€�150浠�銆�120浠�銆傜敳鐢�(ch菐n)鍝佹瘡浠跺敭鍍圭偤90鍏�锛岄姺鍞敹鍏ヤ腑鏈�60%鍙暥(d膩ng)瀛ｆ敹鍒扮従(xi脿n)閲�锛屽叾浣欎笅瀛ｆ敹鍥�銆傜敳鐢�(ch菐n)鍝佽€楃敤A銆丅鍏╀腑鏉愭枡锛屽畾椤嶅垎鍒ョ偤3KG銆�2KG锛屾潗鏂欏柈鍍瑰垎鍒ョ偤5鍏�銆�3鍏冿紝瀛ｆ湯鏉愭枡搴瓨閲忔寜涓嬪鐢熺敘(ch菐n)鐢ㄩ噺鐨�30%瑷堢畻锛岄噰璩兼潗鏂欐鐣�(d膩ng)瀛ｆ敮浠�50%锛屽叾浣欎笅瀛ｆ敮浠�銆傛瘡浠剁敘(ch菐n)鍝佺殑宸ユ檪瀹氶鐐�4灏忔檪锛屾瘡灏忔檪宸ヨ硣鐐�5鍏�锛岃畩鍕曟€у埗閫犺不(f猫i)鐢ㄦ瘡灏忔檪1.40鍏冿紝姣忓鍥哄畾鎬у埗閫犺不(f猫i)鐢ㄧ偤38800鍏�锛屽叾涓湁鍥哄畾璩囩敘(ch菐n)鎶樿垔璨�(f猫i)17000鍏�銆傛瘡瀛ｅ害鐧�(f膩)鐢熼姺鍞不(f猫i)鐢ㄥ垎鍒ョ偤9240鍏�銆�10190鍏冦€�10950鍏�銆�10000鍏�锛屾瘡瀛ｅ害鐧�(f膩)鐢熺鐞嗚不(f猫i)鐢ㄥ潎鐐�2625鍏�銆�2001骞村叕鍙稿畨鎺掗暦鏈熸姇璩�110000鍏�锛屾瘡瀛ｅ害鍒嗗垾鎶曞叆28000鍏�銆�10000鍏冦€�34000鍏�銆�38000鍏�锛屽悓鏅傛瘡瀛ｅ害鍧囧劅閭勯暦鏈熷€熸鍒╂伅3500鍏冦€傚叕鍙哥従(xi脿n)閲戞寔鏈夐噺鎺у埗鐨勮寖鍦嶇偤5500鍏冭嚦8000鍏�锛屼笉瓒冲墖鍊熸锛屽浣欏墖閭勬銆傚€熸鍠綅鐐�1000鍏�锛屽€熸鍦ㄦ湡鍒�锛岄倓娆惧湪鏈熸湯銆傚€熸鍒╃巼鐐�10%锛屽€熸鍒╂伅鏀粯鍦ㄦ閭勬湰閲戞檪閫�(j矛n)琛屻€傝姹傜法鍒�1锛岄姺鍞爯(y霉)绠�2锛岀敓鐢�(ch菐n)闋�(y霉)绠�3锛屾潗鏂欓爯(y霉)绠�4锛屼汉宸ラ爯(y霉)绠�锛�5锛屽埗閫犺不(f猫i)鐢ㄩ爯(y霉)绠�6锛岀従(xi脿n)閲戦爯(y霉)绠�
閵峰敭闋�(y霉)绠楋細
绗竴瀛ｅ害閵峰敭鐝�(xi脿n)閲戞敹鍏�=1100脳90脳60%+45000=104400鍏�
绗簩瀛ｅ害閵峰敭鐝�(xi脿n)閲戞敹鍏�=1600脳90脳60%+1100脳90脳40%=126000鍏�
绗笁瀛ｅ害閵峰敭鐝�(xi脿n)閲戞敹鍏�=2000脳90脳60%+1600脳90脳40%=165600鍏�
绗洓瀛ｅ害閵峰敭鐝�(xi脿n)閲戞敹鍏�=1500脳90脳60%+2000脳90脳40%=153000鍏�
绗竴瀛ｅ害 绗簩瀛ｅ害 绗笁瀛ｅ害 绗洓瀛ｅ害 鍚堣▓
閵峰敭鏀跺叆鏀跺彇60%鏀跺彇40%鐝�(xi脿n)閲戞敹鍏� 990005940045000104400 1440008640039600126000 18000010800057600165600 1350008100072000153000 558000334800214200549000
鐢熺敘(ch菐n)闋�(y霉)绠楋細
绗竴瀛ｅ害鐢熺敘(ch菐n)閲�=1100+1600脳10%-100=1160浠�
绗簩瀛ｅ害鐢熺敘(ch菐n)閲�=1600+2000脳10%-1600脳10%=1640浠�
绗笁瀛ｅ害鐢熺敘(ch菐n)閲�=2000+1500脳10%-2000脳10%=1950浠�
绗洓瀛ｅ害鐢熺敘(ch菐n)閲�=1500+120-1500脳10%=1470浠�
绗竴瀛ｅ害 绗簩瀛ｅ害 绗笁瀛ｅ害 绗洓瀛ｅ害 鍚堣▓
閵峰敭閲忔湡鏈噺鏈熷垵閲忕敓鐢�(ch菐n)閲� 11001601001160 16002001601640 20001502001950 15001201501470 62001201006220
鏉愭枡闋�(y霉)绠楋細
绗竴瀛ｅ害A鏉愭枡娑堣€楅噺=1160脳3=3480KG B鏉愭枡娑堣€楅噺=1160脳2=2320KG
绗簩瀛ｅ害A鏉愭枡娑堣€楅噺=1640脳3=4920KG B鏉愭枡娑堣€楅噺=1640脳2=3280KG
绗笁瀛ｅ害A鏉愭枡娑堣€楅噺=1950脳3=5850KG B鏉愭枡娑堣€楅噺=1950脳2=3900KG
绗洓瀛ｅ害A鏉愭枡娑堣€楅噺=1470脳3=4410KG B鏉愭枡娑堣€楅噺=1470脳2=2940KG
绗竴瀛ｅ害A鏉愭枡閲囪臣閲�=3480+4920脳30%-1030=3926KG
绗竴瀛ｅ害B鏉愭枡閲囪臣閲�=2320+3280脳30%-830=2474KG
绗簩瀛ｅ害A鏉愭枡閲囪臣閲�=4920+5850脳30%-4920脳30%=5199KG
绗簩瀛ｅ害B鏉愭枡閲囪臣閲�=3280+3900脳30%-3280脳30%=3466KG
绗笁瀛ｅ害A鏉愭枡閲囪臣閲�=5850+4410脳30%-5850脳30%=5418KG
绗笁瀛ｅ害B鏉愭枡閲囪臣閲�=3900+2940脳30%-3900脳30%=3612KG
绗洓瀛ｅ害A鏉愭枡閲囪臣閲�=4410+1500-4410脳30%=4587KG
绗洓瀛ｅ害B鏉愭枡閲囪臣閲�=2940+1000-2940脳30%=3058KG
绗竴瀛ｅ害A鏉愭枡鎴愭湰=3926脳5=19630鍏� B鏉愭枡鎴愭湰=2474脳3=7422鍏�
绗簩瀛ｅ害A鏉愭枡鎴愭湰=5199脳5=25995鍏� B鏉愭枡鎴愭湰=3466脳3=10398鍏�
绗笁瀛ｅ害A鏉愭枡鎴愭湰=5418脳5=27090鍏� B鏉愭枡鎴愭湰=3612脳3=10836鍏�
绗洓瀛ｅ害A鏉愭枡鎴愭湰=4587脳5=22935鍏� B鏉愭枡鎴愭湰=3058脳3=9174鍏�
绗竴瀛ｅ害鏉愭枡鐝�(xi脿n)閲戞敮鍑�=锛�19630+7422锛� 脳50%+9400=22926鍏�
绗簩瀛ｅ害鏉愭枡鐝�(xi脿n)閲戞敮鍑�=锛�25995+10398锛壝�50%+锛�19630+7422锛壝�50%=31722.5鍏�
绗笁瀛ｅ害鏉愭枡鐝�(xi脿n)閲戞敮鍑�=锛�27090+10836锛壝�50%+锛�25995+10398锛壝�50%=37159.5鍏�
绗洓瀛ｅ害鏉愭枡鐝�(xi脿n)閲戞敮鍑�=锛�22935+9174锛壝�50%+锛�27090+10836锛壝�50%=35017.5鍏�
绗竴瀛ｅ害 绗簩瀛ｅ害 绗笁瀛ｅ害 绗洓瀛ｅ害 鍚堣▓
娑堣€楅噺 AB鏈熸湯閲� AB鏈熷垵閲� AB閲囪臣閲� AB 348023201476984103083039262474 4920328017551170147698451993466 5850390013238821755117054183612 4410294013331000132388244203058 18660124401333100010308301896312610
閲囪臣鎴愭湰 A B 196307422 2599510398 2709010836 221009174 9481537830
鏉愭枡鎴愭湰 27052 36393 37926 32109 132645
鏀粯鏈湡鏀粯涓婃湡 135269400 18196.513526 1896318196.5 1105018963 61735.560085.5
鏉愭枡鏀嚭 22926 31722.5 37159.5 30013 121821
浜哄伐闋�(y霉)绠�:
绗竴瀛ｅ害浜哄伐鐝�(xi脿n)閲戞敮鍑�=1160脳4脳5=23200鍏�
绗簩瀛ｅ害浜哄伐鐝�(xi脿n)閲戞敮鍑�=1640脳4脳5=32800鍏�
绗笁瀛ｅ害浜哄伐鐝�(xi脿n)閲戞敮鍑�=1950脳4脳5=39000鍏�
绗洓瀛ｅ害浜哄伐鐝�(xi脿n)閲戞敮鍑�=1470脳4脳5=29400鍏�
绗竴瀛ｅ害 绗簩瀛ｅ害 绗笁瀛ｅ害 绗洓瀛ｅ害 鍚堣▓
鐢熺敘(ch菐n)閲忓柈浣嶅伐鏅傛瘡浠跺伐璩囦汉宸ユ敮鍑� 11604523200 16404532800 19504539000 14704529400 622045124400
鍒堕€犺不(f猫i)鐢ㄩ爯(y霉)绠�:
绗竴瀛ｅ害鍒堕€犺不(f猫i)鐢ㄦ敮鍑�=1160脳4脳1.40+38800-17000=28296鍏�
绗簩瀛ｅ害鍒堕€犺不(f猫i)鐢ㄦ敮鍑�=1640脳4脳1.40+38800-17000=30984鍏�
绗笁瀛ｅ害鍒堕€犺不(f猫i)鐢ㄦ敮鍑�=1950脳4脳1.40+38800-17000=32720鍏�
绗洓瀛ｅ害鍒堕€犺不(f猫i)鐢ㄦ敮鍑�=1470脳4脳1.40+38800-17000=30032鍏�
绗竴瀛ｅ害 绗簩瀛ｅ害 绗笁瀛ｅ害 绗洓瀛ｅ害 鍚堣▓
鐢熺敘(ch菐n)閲忓柈浣嶅伐鏅傚皬鏅傝不(f猫i)鐢ㄨ畩鍕曡不(f猫i)鐢ㄥ浐瀹氳不(f猫i)鐢ㄦ笡:鎶樿垔璨�(f猫i)鐢ㄦ敮鍑� 116041.406496388001700028296 164041.409184388001700030984 195041.4010920388001700032720 147041.408232388001700030032 622041.403483215520068000122032
鐝�(xi脿n)閲戦爯(y霉)绠�:
绗竴瀛ｅ害 绗簩瀛ｅ害 绗笁瀛ｅ害 绗洓瀛ｅ害 鍚堣▓
鏈熷垵浣欓缍�(j墨ng)鐕熸敹鍏� 5500104400 6113126000 6091.5165600 6362153000 5500549000
鏉愭枡鏀嚭浜哄伐鏀嚭鍒堕€犺不(f猫i)鐢ㄩ姺鍞不(f猫i)鐢ㄧ鐞嗚不(f猫i)鐢ㄨ硣鐢�(ch菐n)鎶曡硣闀锋湡鍒╂伅 22926232002829692402625280003500 31722.53280030984101902625100003500 37159.53900032720109502625340003500 300132940030032100002625380003500 121821124400122032403801050011000014000
鏀嚭鍚堣▓ 117787 121821.5 159954.5 143570 543133
鐝�(xi脿n)閲戜綑缂� 锛�7887锛� 10291.5 11737 15792 11367
閵€琛屽€熸姝搁倓鍊熸鍊熸鍒╂伅鐭湡鎶曡硣 14000 锛�4000锛夛紙200锛� 锛�5000锛夛紙375锛� 锛�5000锛夛紙500锛夛紙4000锛� 14000锛�14000锛夛紙1075锛夛紙4000锛�
鏈熸湯浣欓 6113 6091.5 6362 6292 6292
鍒€娉細鐪嬭憲鐧�(f膩)鏆堝晩锛岄偅涔堥暦锛岃姳鍗佸垎閻樺勾骞村潎鏄庣櫧鍓嶅咕姝ヤ簡锛屾矑鎯冲埌閫欎箞闀�锛岄€欓鍟忛涓嶆槸澶洠锛屼絾鏄垜閫欏€嬮瑕佹斁妫勪簡!!
67,鏌愬埄娼や腑蹇�2000骞村鐝�(xi脿n)閵峰敭鏀跺叆780000鍏冿紝鍒╂饯涓績閵峰敭鐢�(ch菐n)鍝佺殑璁婂嫊鎴愭湰鍜岃畩鍕曡不(f猫i)鐢ㄧ偤460000鍏�锛屽埄娼や腑蹇冭矤(f霉)璨�(z茅)浜哄彲鎺у浐瀹氭垚鏈偤80000鍏冿紝鍒╂饯涓績璨�(f霉)璨�(z茅)浜轰笉鍙帶鑰岀敱瑭蹭腑蹇冭矤(f霉)鎿�(d膩n)鐨勫浐瀹氭垚鏈偤42000鍏�锛屽墖鍒╂饯涓績璨㈢嵒(xi脿n)姣涚泭绺介銆佸埄娼や腑蹇冭矤(f霉)璨�(z茅)浜哄彲鎺у埄娼ょ附椤�銆佸埄娼や腑蹇冨彲鎺у埄娼ょ附椤嶅垎鍒ョ偤澶氬皯锛�
閭婇殯璨㈢嵒(xi脿n)=780000 ? 460000 =320000锛堝厓锛�
鍒╂饯涓績璨�(f霉)璨�(z茅)浜哄彲鎺у埄娼�=320000 ? 80000 = 240000锛堝厓锛�
鍒╂饯涓績鍙帶鍒╂饯= 240000 ? 42000 = 198000锛堝厓锛�
68锛屾煇鎶曡硣涓績2000骞村勾鍒濇湁璩囩敘(ch菐n)绺介鐐�740000鍏�锛屽勾鏈湁璩囩敘(ch菐n)绺介860000鍏�锛岀暥(d膩ng)骞村鐝�(xi脿n)閵峰敭鏀跺叆鐐�2000000鍏�锛岀櫦(f膩)鐢熸垚鏈不(f猫i)鐢ㄧ附椤嶇偤1800000鍏�锛屽鐝�(xi脿n)鐕熸キ(y猫)鍒╂饯绺介鐐�200000鍏�锛屽墖瑭叉姇璩囦腑蹇冪殑璩囨湰鍛ㄨ綁(zhu菐n)鐜�銆侀姺鍞垚鏈巼銆佹垚鏈不(f猫i)鐢ㄥ埄娼ょ巼銆佹姇璩囧埄娼ょ巼鍒嗗垾鐐哄灏�锛熷鏋滆┎鎶曡硣涓績鐨勬渶浣庢姇璩囧牨閰巼鐐�15%锛屽墖鍓╀綑鏀剁泭鐐哄灏�锛�
璩囨湰骞冲潎鍗犵敤椤�=锛�740000 + 860000锛�/2 = 800000 锛堝厓锛�
璩囨湰鍛ㄨ綁(zhu菐n)鐜�=2000000 / 800000=2.5
閵峰敭鎴愭湰鐜�=1800000 / 2000000 = 90%
鎴愭湰鍒╂饯鐜�=200000 / 1800000 =11%
鎶曡硣鍒╂饯鐜�=2.5脳90%脳11%=24.75%
鍓╀綑鏀剁泭=200000?800000脳15%=80000锛堝厓锛�
鍒€娉細鍦ㄨ▓绠楀墿浣欐敹鐩婃檪锛屼竴瀹氳?銆傛睏顐囨彮鎭㈡鑰愰】Y椤嶇敤璩囨湰骞冲潎鍗犵敤绺介渚嗚▓绠�!!鏈鏈変簺鍟忛鐨�锛屽鏋滄寚鏄�200000鐐烘伅绋呭墠鍒╂饯鏇村姞鍚堥仼銆�
69锛屾煇浼佹キ(y猫)瑷堝妰鐢熺敘(ch菐n)鐢�(ch菐n)鍝�1500浠�锛屾瘡浠惰▓鍔冨柈鑰�20鍗冨厠锛屾瘡鍗冨厠瑷堝妰鍠児12鍏�锛屾湰鏈熷闅涚敓鐢�(ch菐n)鐢�(ch菐n)鍝�1600浠讹紝姣忎欢瀵﹂殯娑堣€楁潗鏂�18鍗冨厠锛屾瘡浠跺闅涘柈鍍�13鍏�锛岃姹傦細瑷堢畻鐢�(ch菐n)鍝佹潗鏂欑殑瀵﹂殯鎴愭湰銆佽▓鍔冩垚鏈強宸暟锛屽苟鍒嗘瀽瑷堢畻鐢变簬鐢�(ch菐n)閲忚畩鍕�銆佹潗鏂欏柈鑰楄畩鍕曘€佹潗鏂欏柈鍍硅畩鍕曞皪鏉愭枡鎴愭湰鐨勫奖闊�銆�
1銆佽▓绠楀闅涖€佽▓鍔冩寚妯�(bi膩o)锛�
瀵﹂殯鎴愭湰=1600脳18脳13=374400鍏�
瑷堝妰鎴愭湰=1500脳20脳12=360000鍏�
宸暟=374400-360000=14400鍏�
2銆佸垎鏋愯▓绠楋細
鐢变簬鐢�(ch菐n)閲忓鍔犲皪鏉愭枡鎴愭湰鐨勫奖闊跨偤锛�
锛�1600-1500锛壝�20脳12=24 000锛堝厓锛�
鐢变簬鏉愭枡鍠€楃瘈(ji茅)绱勫皪鏉愭枡鎴愭湰褰遍熆鐐猴細
1600脳锛�18-20锛壝�12=-38 400锛堝厓锛�
鐢变簬鏉愭枡鍠児鎻愰珮灏嶆潗鏂欐垚鏈奖闊跨偤锛�
1600脳18脳锛�13-12锛�=28 800锛堝厓锛�
鍏ㄩ儴鍥犵礌褰遍熆鐐猴細
24000-38400+28800=14 400 锛堝厓锛�
70锛屾煇鎶曡硣涓績2000骞寸殑瑷堝妰鎶曡硣绺介鐐�1250000鍏�锛岄姺鍞敹鍏ョ偤625000鍏冿紝鎴愭湰璨�(f猫i)鐢ㄧ附椤�375000鍏�锛屽埄娼ょ附椤嶇偤250000鍏�銆傝€�2000骞村闅涘畬鎴愭姇璩囬鐐�1500000鍏�锛屽闅涘鐝�(xi脿n)閵峰敭鏀跺叆780000鍏冿紝瀵﹂殯鐧�(f膩)鐢熻不(f猫i)鐢�507000鍏�锛屽鐝�(xi脿n)鍒╂饯绺介273000鍏冦€�
瑕佹眰鍒嗗垾瑷堢畻锛�1锛�2000骞寸殑瑷堝妰鍜屽闅涜硣鏈懆杞�(zhu菐n)鐜�銆侀姺鍞垚鏈巼銆佹垚鏈不(f猫i)鐢ㄥ埄娼ょ巼銆佹姇璩囧埄娼ょ巼2锛屽垎鏋愯▓绠楃敱浜庤硣鏈懆杞�(zhu菐n)鐜�銆侀姺鍞垚鏈巼銆佹垚鏈不(f猫i)鐢ㄥ埄娼ょ巼鐨勮畩鍕曞皪鎶曡硣鍒╂饯鐜囩殑褰遍熆銆�
瑷堝妰璩囨湰鍛ㄨ綁(zhu菐n)鐜�=625000/1250000=50%
瑷堝妰閵峰敭鎴愭湰鐜�=375000/625000=60%
瑷堝妰鎴愭湰璨�(f猫i)鐢ㄥ埄娼ょ巼=250000/375000=67%
瑷堝妰鎶曡硣鍒╂饯鐜�=50%脳60%脳67%=20%
瀵﹂殯璩囨湰鍛ㄨ綁(zhu菐n)鐜�=780000/1500000=52%
瀵﹂殯閵峰敭鎴愭湰鐜�=507000/780000=65%
瀵﹂殯鎴愭湰璨�(f猫i)鐢ㄥ埄娼ょ巼=273000/507000=54%
瀵﹂殯鎶曡硣鍒╂饯鐜�=52%脳65%脳54%=18%
宸暟=20%-18%=-2%
宸暟鍒嗘瀽瑷堢畻锛�
鐢变簬璩囨湰鍛ㄨ綁(zhu菐n)鐜囩殑鎻愰珮灏嶆姇璩囧埄娼ょ巼鐨勫奖闊跨偤锛�
锛�52%-50%锛壝�60%脳67%=0.8%
鐢变簬閵峰敭鎴愭湰鐜囩殑鎻愰珮灏嶆姇璩囧埄娼ょ巼鐨勫奖闊跨偤锛�
52%脳锛�65%-60%锛壝�67%=1.7%
鐢变簬鎴愭湰璨�(f猫i)鐢ㄥ埄娼ょ巼鐨勪笅闄嶅皪鎶曡硣鍒╂饯鐜囩殑褰遍熆鐐猴細
52%脳65%脳锛�54%-67%锛�=-4.4%
鍏ㄩ儴鍥犵礌鐨勫奖闊跨偤锛�
0.8%+1.7%-4.4%=-2%
71锛屾煇鍏徃1999骞撮姺鍞噲鏀跺叆鐐�400000鍏冿紝瀵︾従(xi脿n)鍑堝埄娼�48000鍏�锛岃硣鐢�(ch菐n)骞冲潎绺介500000鍏�锛岃硣鐢�(ch菐n)璨�(f霉)鍌电巼鐐�50%銆�2000骞撮姺鍞噲鏀跺叆鐐�480000鍏�锛屽鐝�(xi脿n)鍑堝埄娼ょ偤72000鍏�锛岃硣鐢�(ch菐n)骞冲潎绺介鐐�640000鍏�锛岃硣鐢�(ch菐n)璨�(f霉)鍌电巼鐐�60%銆�
瑕佹眰鍒嗗垾瑷堢畻锛�1锛�1999銆�2000骞寸殑閵峰敭鍑堝埄鐜�銆佺附璩囩敘(ch菐n)鍛ㄨ綁(zhu菐n)鐜�銆佹瑠(qu谩n)鐩婁箻鏁�(sh霉)鍜岃嚜鏈夎硣閲戝埄娼ょ巼銆�2锛屽垎鏋愯▓绠楅姺鍞噲鍒╃巼銆佺附璩囩敘(ch菐n)鍛ㄨ綁(zhu菐n)鐜�銆佹瑠(qu谩n)鐩婁箻鏁�(sh霉)璁婂嫊灏嶈嚜鏈夎硣閲戝埄娼ょ巼鐨勫奖闊裤€�
瑷堢畻鎸囨(bi膩o)锛�
1999骞撮姺鍞噲鍒╃巼=48000/400000=12%
1999骞寸附璩囩敘(ch菐n)鍛ㄨ綁(zhu菐n)鐜�=400000/500000=80%
1999骞存瑠(qu谩n)鐩婁箻鏁�(sh霉)=1/锛�1-50%锛�=2
1999骞磋嚜鏈夎硣閲戝埄娼ょ巼=12%脳80%脳2=19.2%
2000骞撮姺鍞噲鍒╃巼=72000/480000=15%
2000骞寸附璩囩敘(ch菐n)鍛ㄨ綁(zhu菐n)鐜�=480000/640000=75%
2000骞存瑠(qu谩n)鐩婁箻鏁�(sh霉)=1/锛�1-60%锛�=2.5
2000骞磋嚜鏈夎硣閲戝埄娼ょ巼=15%脳75%脳2.5=28.1%
宸暟=28.1%-19.2%=8.9%
2銆佸樊鐣板垎鏋愯▓绠楋細
鐢变簬閵峰敭鍑堝埄鐜囨彁楂樺皪鑷湁璩囬噾鍒╂饯鐜囩殑褰遍熆鐐猴細
锛�15%-12%锛壝�80%脳2=4.8%
鐢变簬绺借硣鐢�(ch菐n)鍛ㄨ綁(zhu菐n)鐜囦笅闄嶅皪鑷湁璩囬噾鍒╂饯鐜囩殑褰遍熆鐐猴細
15%脳锛�75%-80%锛壝�2 = -1.5%
鐢变簬娆�(qu谩n)鐩婁箻鏁�(sh霉)鎻愰珮灏嶈嚜鏈夎硣閲戝埄娼ょ巼鐨勫奖闊跨偤锛�
15%脳75%脳锛�2.5-2锛�=5.6%
鍏ㄩ儴鍥犵礌褰遍熆鐐猴細
4.8%-1.5%+5.6%=8.9%
72锛屾煇鍏徃2000骞村勾鍒濇噳(y墨ng)鏀跺赋娆句綑椤嶇偤20000鍏�锛屽瓨璨ㄤ綑椤嶇偤14000鍏�銆傚勾鏈祦鍕曡硣鐢�(ch菐n)鍚堣▓36000鍏�锛屽叾娴佸嫊姣旂巼鐐�2.0锛岄€熷嫊姣旂巼鐐�1.2锛屽瓨璨ㄥ懆杞�(zhu菐n)娆℃暩(sh霉)鐐�3銆傚叏骞寸敘(ch菐n)鍝佽硳閵峰噲椤嶇偤156000鍏�锛岄櫎鎳�(y墨ng)鏀跺赋娆惧鐨勯€熷嫊璩囩敘(ch菐n)蹇界暐涓嶈▓銆傝姹傚垎鍒ヨ▓绠楋細1锛屽勾鏈祦鍕曡矤(f霉)鍌典綑椤�2锛屽勾鏈瓨璨ㄤ綑椤�3锛岀敘(ch菐n)鍝侀姺鍞垚鏈�4锛屽勾鏈噳(y墨ng)鏀跺赋娆�5锛屾噳(y墨ng)鏀跺赋娆惧懆杞�(zhu菐n)鐜�
骞存湯娴佸嫊璨�(f霉)鍌典綑椤�=36000/2.0=18000 锛堝厓锛�
骞存湯瀛樿波=36000?1.2脳18000=14400锛堝厓锛�
鐢�(ch菐n)鍝侀姺鍞垚鏈�3脳[锛�4000+14400锛�/2]=42600锛堝厓锛�
骞存湯鎳�(y墨ng)鏀惰超娆�=36000?14400=21600锛堝厓锛�
鎳�(y墨ng)鏀惰超娆惧懆杞�(zhu菐n)鐜�=156000/[锛�20000+21600锛�/2]=7.5
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