Financial Comparison of Track Hoe #1 with Track Hoe #2
	% or Unit		Start		End
	Price	3 Year	2013	2014	2015
	($ / Hr)	Total	Sub-Tot	Sub-Tot	Sub-Tot
Data For Both Track Hoes
Billable Hours of Operation		3600	1200	1200	1200
MARR and Monthly Discount Factors
Annual effective rate	12.5%
Monthly effective rate
Monthly discount factors
Track Hoe #1
Capital Values
Track Hoe Investment $100000
Track Hoe Salvage $35000
Revenues
Track Hoe Operation	$95.00
Costs
Track Hoe Operation	$31.00
Operator	$29.00
Total Costs
NCF
Cumulative Cash
Present Values
PVs of Monthly NCFs
Project Net -- NPV
IRR
Track Hoe #2
Capital Values
Track Hoe Investment $65000
Track Hoe Salvage $0
Revenues
Track Hoe Operation	$95.00
Costs
Track Hoe Operation	$36.00
Operator	$29.00
Total Costs
NCF
Cumulative Cash
Present Values
PVs of Monthly NCFs
Project Net -- NPV
IRR
Requested Valuation Methods
1. Net Present Value
TH1	TH2
2. Future Value
TH1	TH2
3. Monthly Rate of Return or Internal Rate of Return (IRR)
TH1	TH2
4. Payback without interest (number of months)
TH1	TH2
5. Payback with interest (number of months)
TH1	TH2
Final recommendation
TH1 or TH2?