# Net present value: the cyclone golf resorts is redoing its golf

Net present value: The Cyclone Golf Resorts is redoing its golf course at a cost of \$2,744,320. It expects to generate cash flows of \$1, 223,445, \$2,007,812, and \$3,147,890 over the next three years. If the appropriate discount rate for the firm is 13 percent, what is the NPV of this project?

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\$4,836,752

\$7,581,072

\$2,092,432

\$3,112,459

Net present value: Cortez Art Gallery is adding to its existing buildings at a cost of \$2 million. The gallery expects to bring in additional cash flows of \$520,000, \$700,000, and \$1,000,000 over the next three years. Given a required rate of return of 10 percent, what is the NPV of this project?

-\$1,802,554

\$1,802,554

-\$197,446

\$197,446

Payback: Elmer Sporting Goods is getting ready to produce a new line of gold clubs by investing \$1.85 million. The investment will result in additional cash flows of \$525,000, \$812,500, and 1,200,000 over the next three years. What is the payback period for this project?

2.43 years

1.57 years

More than 3 years

3 years

Internal rate of return: Quick Sale Real Estate Company is planning to invest in a new development. The cost of the project will be \$23 million and is expected to generate cash flows of \$14,000,000, \$11,750,000, and \$6,350,000 over the next three years. The company’s cost of capital is 20 percent. What is the internal rate of return on this project? (Round to the nearest percent.)

20%

24%

22%

28%

An investment of \$116 generates after-tax cash flows of \$50 in Year 1, \$97 in Year 2, and \$90 in Year 3. The required rate of return is 20 percent. The net present value is closest to

\$45.11.

\$22.22.

\$28.71.

\$33.19.

Given the following cash flows for a capital project, calculate the NPV and IRR. The required rate of return is 8 percent.

Year 0 1 2 3 4 5 Cash Flows \$-45341 \$13821 \$14823 \$15802 \$9075 \$4785

NPV=2261. IRR=11.66%

NPV=2636. IRR=10.51%

NPV=2261. IRR=10.51%

NPV=2636. IRR=11.66%

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