Calculate the net present value of the expansion (Enter any factor amounts to three decimal places. X.XXX. Round to the nearest whole dollar) Net Cash Annuity PV Factor PV Factor (i=10%, Inflow (i=10%, n=12) n=12) Present Value Years Years 1-12 Data table Present value of annuity Year 12 Present value of residual value Total PV of cash inflows Number of additional skiers per day Year 0 Initial investment Average number of days per year that weather conditions allow skiing at Smith Valley Net present value of expansion Useful life of expansion (in years) Average cash spent by each skier per day Average variable cost of serving each skier per day Cost of expansion Discount rate Print Done ACILICON 122 skiers 142 days 12 years 237 82 13.000.000 10% Cancel ence Present Value of $1 8% 9% 10% 16% 18% 20% 1% 14% eriods 5% 0.952 0.943 15% 0.870 0.862 0.847 0.833 0.935 0.926 0.917 0.909 0.893 0.877 eriod 1 0.873 0.857 0.769 0.743 0.718 0.694 eriod 2 1% 2% 3% 4% 0.990 0.980 0.971 0.962 0.980 0.961 0.943 0.925 0.907 0.890 0.840 0.971 0.942 0.915 0.889 0.864 0.961 0.924 0.888 0.855 0.823 0.792 0.747 0.951 0.906 0.863 0.822 0.784 0.756 0.658 0.641 0.609 0.579 eriod 3 0.842 0.826 0.797 0.816 0.794 0.772 0.751 0.712 0.735 0.708 0.683 0.763 0.636 0713 0.681 0.650 0.621 0.567 0.675 0.592 0.572 0.552 0.516 0.482 Period 4 0.519 0.497 0.476 0.437 0.402 Period 5 0.432 0.410 0.370 0.335 Period 6 0.942 0.888 0.837 0.790 0.746 0.705 0.933 0.871 0.813 0.760 0.711 Period 7 0.666 0.630 0.665 0.623 0.583 0.582 0.627 Period 8 0.540 0.596 0.564 0.507 0.547 0.513 0.452 0.404 0.502 0.467 0.460 0.424 0.361 0.422 0.386 0.322 0.923 0.853 Period 9 0.789 0.731 0.677 0.766 0.744 0.914 0.837 0.703 0.645 0.592 0.544 0.500 0.508 0.463 0.456 0.400 0.376 0.354 0.314 0.279 0.305 0.266 0.233 0.351 0.327 0.308 0.284 0.263 0.225 0.194 0.270 0.247 0.227 0.191 0.215 0.195 0.162 0.168 0.137 0.145 0.116 0.093 0.162 Period 10 0.905 0.820 0.676 0.614 0.558 0.135 0444 0.112 Period 110.896 0.804 0.722 0.650 0.585 0.527 0.475 Period 12 0.887 0.788 0.701 0.625 0.557 0.497 0.601 0530 Period 13 Period 14 0.577 0.505 0.442 0.555 0469 0.415 0.879 0.773 0.681 0.870 0.758 0.661 0.861 0.743 0.642 0.429 0.388 0.350 0.287 0.237 0.208 0.187 0.397 0.356 0.319 0.257 0.326 0.290 0.229 0.182 0.163 0.368 0.205 0.160 0.141 0.140 0.123 0.183 0.388 0.340 0.299 0.263 0.125 0.108 0.099 0.078 0.084 0.065 Period 15 0.481 0417 0.362 0.315 0.275 0.239 Period 16 0.853 0.728 0.623 0.534 0.458 0.394 0.339 0.292 0.252 0.218 Period 17 0.844 0.714 0.605 0513 0.436 0371 0.317 0.270 0.231 0.198 Period 18 0.836 0.700 0.587 0.494 0.416 0.350 0.296 0 250 0.212 0 180 0.054 0.093 0.071 0.080 0.060 0.045 0.069 0.051 0.038 0.031 0.060 0.043 0.051 0.037 0.026 Period 19 0.828 0.686 0.570 0.475 0.396 0.331 0.277 Period 20 0.820 0.673 0.554 0.456 0.377 0312 0.258 0.215 0.123 0.107 0.163 0.108 0.093 0.146 0.130 0.095 0.081 0.232 0.194 0.164 0.116 0.083 0.070 0.178 0.149 0.104 0.073 0.061 0.164 0.135 0.093 0.064 0.053 0.150 0.123 0.083 0.056 0.046 0.138 0.112 0.074 0.049 0.040 0.033 0.022 0.015 0.126 0.102 0.066 0.043 0.035 0.028 0.019 0.013 0.116 0.092 0.059 0.038 0.030 0.024 0.016 0.010 Period 21 0.811 0.660 0.044 0.031 0.022 0.038 0.026 0.018 Period 22 0.803 0.647 Period 23 0.795 0.634 0.538 0.439 0.359 0.294 0.242 0.199 0.522 0.422 0.342 0.278 0.226 0.184 0.507 0.406 0.326 0.262 0.211 0.170 0.492 0.390 0.310 0.247 0.197 0.158 0.478 0.375 0.295 0.233 0.184 0.146 Period 24 0788 0.622 Period 25 0.780 0.610 Period 26 Period 27 Period 28 0.772 0.598 0.764 0.586 0.757 0.574 0.749 0.563 0.742 0.552 0.464 0.361 0.281 0.220 0.172 0.135 0.106 0.084 0.053 0.033 0.026 0.021 0.014 0.009 0.450 0.347 0.268 0.207 0.161 0.125 0.098 0.076 0.047 0.029 0.023 0.018 0.011 0.007 0.437 0.333 0.255 0.196 0.150 0.116 0.090 0.069 0.042 0.026 0.020 0.016 0.010 0.006 0.185 0.141 0.107 0.082 0.063 0.037 0.022 0.017 0.014 0.008 0.005 0.131 0.099 0.075 0.057 0.033 0.020 0.015 0.012 0.007 0.004 Period 29 0.424 0.321 0.243 Period 30 0.412 0.308 0.231 0.174 Period 40 0.672 0453 0.307 0.208 0.142 0.097 0.067 0.046 0.032 0.022 0.011 0.005 0.004 0.003 0.001 0.001 0.021 0.013 0.009 0.003 0.001 0.001 Period 50 0.608 0.372 0.228 0.141 0.087 0.054 0.034 0.001 Done 7% 6% Print Present Value of Ordinary Annuity of $1 18% 20% Periods 1% 2% 3% 4% Period 1 0.990 0.980 0.971 0.962 0.847 0.833 1.566 1.528 Period 2 1.970 1.942 5% 6% 7% 8% 9% 10% 12% 14% 15% 16% 0.952 0.943 0935 0.926 0.917 0.909 0.898 0.877 0.870 0.862 1.886 1.859 1833 1.808 1.783 1.759 1.736 1690 1647 162 1.605 2.775 2.723 2.673 2.624 2.577 2531 2.487 2402 2322 2.283 2.246 3.630 3.546 3.465 3.387 3.312 3.240 3 170 3.037 2.914 2.855 2.798 4.452 4.329 4.212 4.100 3.993 3.605 3.433 3.352 3274 Period 3 1.913 2.829 3.902 3.808 3.717 2.941 2.884 2.174 2.106 Period 4 2.690 2.589 Period 5 4.853 4.713 4.580 3.890 3.791 3.899 3.127 2.991 Period 6 5.795 5.601 5.417 3.498 3.326 Period 7 6.728 6.472 6.230 3.812 3.605 Period 8 7.652 7.325 7.020 3.889 3.784 3.685 4.288 4160 4 039 4.639 4487 4.344 4.078 4946 4.772 4.607 4 303 5.216 5.019 4.833 4.494 3.837 Period 9 4.031 8.566 8.162 9.471 8.983 Period 10 4. 192 Period 11 10.368 9.787 Period 12 11.255 10.575 5.242 5.076 4917 4.767 4.623 4 486 4 355 6.002 5.786 5.582 5.389 5.206 5033 4.868 4.564 6.733 6.463 6.210 5.971 5.747 5 535 5.335 4.968 7.786 7.435 7.108 6.802 6.515 6.247 5.995 5.759 6.328 8.530 8.111 7.722 7.360 7.024 6.710 6418 6145 5.650 9.253 8.760 8.306 7.887 7 499 7.139 6.805 6.495 5.938 5453 5.234 5.029 4.656 4.327 9.954 9.385 8.863 8 384 7.943 7.536 7.161 6.814 6.194 5.660 5.421 5.197 4.793 4 439 12.134 11.348 10.635 9.986 9.394 8.853 8.358 7.904 7:487 7.103 6424 5.842 5,583 5.342 4.910 4.533 13.004 12.106 11.296 10.563 9.899 9.295 8.745 8,244 7.786 7.367 6.628 6.002 5.724 5.468 5.008 4.611 13.865 12.849 11.938 11.118 10.380 9.712 9.108 8.559 8.061 7.606 6.811 6.142 5.847 5.575 5.092 4.675 5.669 5.162 4.730 5.749 5.222 4.775 5.818 5.273 4812 5.877 5316 4.844 5.929 5.353 4870 8.851 8.313 7.824 6.974 6.265 5.954 9.122 8544 8.022 7.120 6.373 6.047 9.372 8.756 8.201 7.250 6.467 6.128 9.604 8.950 8.365 7.366 6.550 6.198 9.818 9.129 8514 7.469 6 623 6.259 98189.123 10.017 9.292 8.649 2009 7.562 6.687 5.973 5.384 4.891 Period 13 Period 14 Period 15 Period 16 14.718 13.578 12.561 11.652 10.838 10.106 9.447 Period 17 15.562 14.292 13.166 12.166 11 274 10.477 9.763 Period 18 16.398 14.992 13.754 12.659 11.690 10.828 10.059 Period 19 17.226 15.678 14.324 13.134 12.085 11.158 10 336 Period 20 18.046 16.351 14.877 13.590 12.462 11.470 10.594 Period 21 14.029 6312 Period 22 14 451 10 201 9.442 8.772 7.645 6.743 6.359 Period 23 14.857 10.371 9.580 8.883 7.718 6.792 6.399 Period 24 6.044 15.247 10.529 9.707 8.985 7.784 6.835 6.434 6.073 Period 25 15.622 10.675 9.823 9.077 7.843 6873 6.464 Period 26 15.983 14.375 13.003 11.826 10.810 9.929 9 161 7.896 Period 27 6.906 6.491 16.330 14.643 13.211 11.987 10.935 10.027 9.237 7.943 6.935 6.118 5.480 4.956 Period 28 16.663 14.898 13.406 12.137 11.051 10.116 9.307 6.514 6.136 5.492 7.984 6.961 Period 29 25.066 21.844 19.188 16.984 15.141 13.591 12.278 11.158 10.198 9.370 6.534 6.152 5.502 4970 8022 6.983 Period 30 25.808 22.396 19.600 17.292 15.372 13.765 12.409 11.258 10.274 19.427 6.551 6.166 5.510 4975 8.055 7.003 6.566 6.177 5.517 4.979 Period 40 32.835 27.355 23.115 19.793 17.159 15.046 13.332 11.925 10.757 9.779 8.244 7.105 6.642 6.233 5.548 4.997 Period 50 39.196 31.424 25.730 21.482 18.256 15.762 13.801 12.233 10.962 9.915 8.304 7.133 6.661 6.246 5.554 4.999 18.857 17.011 15.415 19.660 17.658 15.937 20.456 18.292 16.444 21.243 18.914 16.936 6.011 5410 4.909 12.821 11.764 10 836 13.163 12.042 11 061 13.489 12.303 11 272 13.799 12.550 11 469 14.094 12 783 11:654 5 432 4925 5.451 4.937 4.948 22.023 19.523 17.413 6.097 5.467 22.795 20.121 17.877 23.560 20.707 18.327 Duellan 4.964 24.316 21.281 18.764 Calculate the net present value of the expansion (Enter any factor amounts to three decimal places. X.XXX. Round to the nearest whole dollar) Net Cash Annuity PV Factor PV Factor (i=10%, Inflow (i=10%, n=12) n=12) Present Value Years Years 1-12 Data table Present value of annuity Year 12 Present value of residual value Total PV of cash inflows Number of additional skiers per day Year 0 Initial investment Average number of days per year that weather conditions allow skiing at Smith Valley Net present value of expansion Useful life of expansion (in years) Average cash spent by each skier per day Average variable cost of serving each skier per day Cost of expansion Discount rate Print Done ACILICON 122 skiers 142 days 12 years 237 82 13.000.000 10% Cancel ence Present Value of $1 8% 9% 10% 16% 18% 20% 1% 14% eriods 5% 0.952 0.943 15% 0.870 0.862 0.847 0.833 0.935 0.926 0.917 0.909 0.893 0.877 eriod 1 0.873 0.857 0.769 0.743 0.718 0.694 eriod 2 1% 2% 3% 4% 0.990 0.980 0.971 0.962 0.980 0.961 0.943 0.925 0.907 0.890 0.840 0.971 0.942 0.915 0.889 0.864 0.961 0.924 0.888 0.855 0.823 0.792 0.747 0.951 0.906 0.863 0.822 0.784 0.756 0.658 0.641 0.609 0.579 eriod 3 0.842 0.826 0.797 0.816 0.794 0.772 0.751 0.712 0.735 0.708 0.683 0.763 0.636 0713 0.681 0.650 0.621 0.567 0.675 0.592 0.572 0.552 0.516 0.482 Period 4 0.519 0.497 0.476 0.437 0.402 Period 5 0.432 0.410 0.370 0.335 Period 6 0.942 0.888 0.837 0.790 0.746 0.705 0.933 0.871 0.813 0.760 0.711 Period 7 0.666 0.630 0.665 0.623 0.583 0.582 0.627 Period 8 0.540 0.596 0.564 0.507 0.547 0.513 0.452 0.404 0.502 0.467 0.460 0.424 0.361 0.422 0.386 0.322 0.923 0.853 Period 9 0.789 0.731 0.677 0.766 0.744 0.914 0.837 0.703 0.645 0.592 0.544 0.500 0.508 0.463 0.456 0.400 0.376 0.354 0.314 0.279 0.305 0.266 0.233 0.351 0.327 0.308 0.284 0.263 0.225 0.194 0.270 0.247 0.227 0.191 0.215 0.195 0.162 0.168 0.137 0.145 0.116 0.093 0.162 Period 10 0.905 0.820 0.676 0.614 0.558 0.135 0444 0.112 Period 110.896 0.804 0.722 0.650 0.585 0.527 0.475 Period 12 0.887 0.788 0.701 0.625 0.557 0.497 0.601 0530 Period 13 Period 14 0.577 0.505 0.442 0.555 0469 0.415 0.879 0.773 0.681 0.870 0.758 0.661 0.861 0.743 0.642 0.429 0.388 0.350 0.287 0.237 0.208 0.187 0.397 0.356 0.319 0.257 0.326 0.290 0.229 0.182 0.163 0.368 0.205 0.160 0.141 0.140 0.123 0.183 0.388 0.340 0.299 0.263 0.125 0.108 0.099 0.078 0.084 0.065 Period 15 0.481 0417 0.362 0.315 0.275 0.239 Period 16 0.853 0.728 0.623 0.534 0.458 0.394 0.339 0.292 0.252 0.218 Period 17 0.844 0.714 0.605 0513 0.436 0371 0.317 0.270 0.231 0.198 Period 18 0.836 0.700 0.587 0.494 0.416 0.350 0.296 0 250 0.212 0 180 0.054 0.093 0.071 0.080 0.060 0.045 0.069 0.051 0.038 0.031 0.060 0.043 0.051 0.037 0.026 Period 19 0.828 0.686 0.570 0.475 0.396 0.331 0.277 Period 20 0.820 0.673 0.554 0.456 0.377 0312 0.258 0.215 0.123 0.107 0.163 0.108 0.093 0.146 0.130 0.095 0.081 0.232 0.194 0.164 0.116 0.083 0.070 0.178 0.149 0.104 0.073 0.061 0.164 0.135 0.093 0.064 0.053 0.150 0.123 0.083 0.056 0.046 0.138 0.112 0.074 0.049 0.040 0.033 0.022 0.015 0.126 0.102 0.066 0.043 0.035 0.028 0.019 0.013 0.116 0.092 0.059 0.038 0.030 0.024 0.016 0.010 Period 21 0.811 0.660 0.044 0.031 0.022 0.038 0.026 0.018 Period 22 0.803 0.647 Period 23 0.795 0.634 0.538 0.439 0.359 0.294 0.242 0.199 0.522 0.422 0.342 0.278 0.226 0.184 0.507 0.406 0.326 0.262 0.211 0.170 0.492 0.390 0.310 0.247 0.197 0.158 0.478 0.375 0.295 0.233 0.184 0.146 Period 24 0788 0.622 Period 25 0.780 0.610 Period 26 Period 27 Period 28 0.772 0.598 0.764 0.586 0.757 0.574 0.749 0.563 0.742 0.552 0.464 0.361 0.281 0.220 0.172 0.135 0.106 0.084 0.053 0.033 0.026 0.021 0.014 0.009 0.450 0.347 0.268 0.207 0.161 0.125 0.098 0.076 0.047 0.029 0.023 0.018 0.011 0.007 0.437 0.333 0.255 0.196 0.150 0.116 0.090 0.069 0.042 0.026 0.020 0.016 0.010 0.006 0.185 0.141 0.107 0.082 0.063 0.037 0.022 0.017 0.014 0.008 0.005 0.131 0.099 0.075 0.057 0.033 0.020 0.015 0.012 0.007 0.004 Period 29 0.424 0.321 0.243 Period 30 0.412 0.308 0.231 0.174 Period 40 0.672 0453 0.307 0.208 0.142 0.097 0.067 0.046 0.032 0.022 0.011 0.005 0.004 0.003 0.001 0.001 0.021 0.013 0.009 0.003 0.001 0.001 Period 50 0.608 0.372 0.228 0.141 0.087 0.054 0.034 0.001 Done 7% 6% Print Present Value of Ordinary Annuity of $1 18% 20% Periods 1% 2% 3% 4% Period 1 0.990 0.980 0.971 0.962 0.847 0.833 1.566 1.528 Period 2 1.970 1.942 5% 6% 7% 8% 9% 10% 12% 14% 15% 16% 0.952 0.943 0935 0.926 0.917 0.909 0.898 0.877 0.870 0.862 1.886 1.859 1833 1.808 1.783 1.759 1.736 1690 1647 162 1.605 2.775 2.723 2.673 2.624 2.577 2531 2.487 2402 2322 2.283 2.246 3.630 3.546 3.465 3.387 3.312 3.240 3 170 3.037 2.914 2.855 2.798 4.452 4.329 4.212 4.100 3.993 3.605 3.433 3.352 3274 Period 3 1.913 2.829 3.902 3.808 3.717 2.941 2.884 2.174 2.106 Period 4 2.690 2.589 Period 5 4.853 4.713 4.580 3.890 3.791 3.899 3.127 2.991 Period 6 5.795 5.601 5.417 3.498 3.326 Period 7 6.728 6.472 6.230 3.812 3.605 Period 8 7.652 7.325 7.020 3.889 3.784 3.685 4.288 4160 4 039 4.639 4487 4.344 4.078 4946 4.772 4.607 4 303 5.216 5.019 4.833 4.494 3.837 Period 9 4.031 8.566 8.162 9.471 8.983 Period 10 4. 192 Period 11 10.368 9.787 Period 12 11.255 10.575 5.242 5.076 4917 4.767 4.623 4 486 4 355 6.002 5.786 5.582 5.389 5.206 5033 4.868 4.564 6.733 6.463 6.210 5.971 5.747 5 535 5.335 4.968 7.786 7.435 7.108 6.802 6.515 6.247 5.995 5.759 6.328 8.530 8.111 7.722 7.360 7.024 6.710 6418 6145 5.650 9.253 8.760 8.306 7.887 7 499 7.139 6.805 6.495 5.938 5453 5.234 5.029 4.656 4.327 9.954 9.385 8.863 8 384 7.943 7.536 7.161 6.814 6.194 5.660 5.421 5.197 4.793 4 439 12.134 11.348 10.635 9.986 9.394 8.853 8.358 7.904 7:487 7.103 6424 5.842 5,583 5.342 4.910 4.533 13.004 12.106 11.296 10.563 9.899 9.295 8.745 8,244 7.786 7.367 6.628 6.002 5.724 5.468 5.008 4.611 13.865 12.849 11.938 11.118 10.380 9.712 9.108 8.559 8.061 7.606 6.811 6.142 5.847 5.575 5.092 4.675 5.669 5.162 4.730 5.749 5.222 4.775 5.818 5.273 4812 5.877 5316 4.844 5.929 5.353 4870 8.851 8.313 7.824 6.974 6.265 5.954 9.122 8544 8.022 7.120 6.373 6.047 9.372 8.756 8.201 7.250 6.467 6.128 9.604 8.950 8.365 7.366 6.550 6.198 9.818 9.129 8514 7.469 6 623 6.259 98189.123 10.017 9.292 8.649 2009 7.562 6.687 5.973 5.384 4.891 Period 13 Period 14 Period 15 Period 16 14.718 13.578 12.561 11.652 10.838 10.106 9.447 Period 17 15.562 14.292 13.166 12.166 11 274 10.477 9.763 Period 18 16.398 14.992 13.754 12.659 11.690 10.828 10.059 Period 19 17.226 15.678 14.324 13.134 12.085 11.158 10 336 Period 20 18.046 16.351 14.877 13.590 12.462 11.470 10.594 Period 21 14.029 6312 Period 22 14 451 10 201 9.442 8.772 7.645 6.743 6.359 Period 23 14.857 10.371 9.580 8.883 7.718 6.792 6.399 Period 24 6.044 15.247 10.529 9.707 8.985 7.784 6.835 6.434 6.073 Period 25 15.622 10.675 9.823 9.077 7.843 6873 6.464 Period 26 15.983 14.375 13.003 11.826 10.810 9.929 9 161 7.896 Period 27 6.906 6.491 16.330 14.643 13.211 11.987 10.935 10.027 9.237 7.943 6.935 6.118 5.480 4.956 Period 28 16.663 14.898 13.406 12.137 11.051 10.116 9.307 6.514 6.136 5.492 7.984 6.961 Period 29 25.066 21.844 19.188 16.984 15.141 13.591 12.278 11.158 10.198 9.370 6.534 6.152 5.502 4970 8022 6.983 Period 30 25.808 22.396 19.600 17.292 15.372 13.765 12.409 11.258 10.274 19.427 6.551 6.166 5.510 4975 8.055 7.003 6.566 6.177 5.517 4.979 Period 40 32.835 27.355 23.115 19.793 17.159 15.046 13.332 11.925 10.757 9.779 8.244 7.105 6.642 6.233 5.548 4.997 Period 50 39.196 31.424 25.730 21.482 18.256 15.762 13.801 12.233 10.962 9.915 8.304 7.133 6.661 6.246 5.554 4.999 18.857 17.011 15.415 19.660 17.658 15.937 20.456 18.292 16.444 21.243 18.914 16.936 6.011 5410 4.909 12.821 11.764 10 836 13.163 12.042 11 061 13.489 12.303 11 272 13.799 12.550 11 469 14.094 12 783 11:654 5 432 4925 5.451 4.937 4.948 22.023 19.523 17.413 6.097 5.467 22.795 20.121 17.877 23.560 20.707 18.327 Duellan 4.964 24.316 21.281 18.764