The finance department has estimated that a discount rate of 13 percent should be used.
If unsuccessful, after the first year the project can be dismantled and will have an aftertax salvage value of $11.1 million. Also, after the first year, expected cash flows will be revised up to 19 units per year or to 0 units, with equal probability. What is the NPV?

A Venture Capitalist (VC) firm is considering financing a manufacturing plant that produces flat plate solar collectors. You have been hired as a consultant to evaluate the claims made by the inventor about the product. What makes this collector unique is that it has a selective absorber surface of emissivity 0.1 and the absorption to solar radiation of 0.95. Under typical operating conditions the temperature of the surface is 120oC when the solar irradiation is 750 W/m2, the effective sky temperature is -10oC and the ambient temperature is 30oC. The heat transfer coefficient for a calm day, due to natural convection, can be estimated from
h=0.25ΔT^(1/3) W/m^2-K
a) What is the rate of removal of useful heat from the solar collector?
b) The inventor claims the efficiency is 90%. Do you agree?

 

Turner Excavation maintains a checking account and has decided to open a petty cash fund. The following petty cash fund transactions occurred during July July Established a petty cash fund by issuing Check No. 301 for $100 5 Paid $25 from the petty cash fund for postage. Voucher No. 1 7 Paid $30 from the petty cash fund for delivery of flowers (Miscellaneous Expense), Voucher No. 2. 8 Paid $20 from the petty cash fund to repair a tire on the company truck, Voucher No. 3. V 12 Paid $22 from the petty cash fund for a newspaper advertisement. Voucher No. 4. Issued Check No. 303 to replenish the petty cash fund. (Total and rule the petty cash payments record. Record the balance and the amount needed to replenish the fund in the Description column of the petty cash payments record.) 20 Paid $26 from the petty cash fund to reimburse an employee for expenses incurred to repair the company truck. Voucher No. 5. Paid $12.50 from the petty cash fund for phone calls made from a phone booth. Voucher No. 6. 24 July 5 15 17 28 Paid $25 from the petty cash fund as a contribution to the YMCA. Voucher No. 7. V Issued Check No. 308 to replenish the petty cash fund. (Total and rule the petty cash payments record. Record the balance and the amount needed to replenish the fund in the Description column of the petty cash payments record.) The following additional transactions occurred during July: Issued Check No. 302 to pay office rent, $650. Issued Check No. 304 for office equipment, $525. Issued Check No. 305 for the purchase of supplies, $133. Issued Check No. 306 to pay attorney fees, $1,000. 18 30 Issued Check No. 307 to pay newspaper for an advertisement, $200.20. REQUIRED 1. Record the petty cash transactions in a petty cash payments record. 2. Make all required general journal entries for the cash transactions. (Note: The petty cash fund was established and replenished twice during July.) 3. The bank statement on page 265 was received in the mail. Deposits were made on July 6 for $3,500 and on July 29 for $2,350. The checkbook balance on July 31 is $4,331.55. Notice the discrepancy in Check No. 302 that cleared the bank for $655. This check was written on July 5 for rent expense, but was incorrectly entered on the check stub and in the journal as $650. Prepare a bank reconcilia- tion and make any necessary journal entries as of July 31. Turner Excavation maintains a checking account and has decided to open a petty cash fund. The following petty cash fund transactions occurred during July July Established a petty cash fund by issuing Check No. 301 for $100 5 Paid $25 from the petty cash fund for postage. Voucher No. 1 7 Paid $30 from the petty cash fund for delivery of flowers (Miscellaneous Expense), Voucher No. 2. 8 Paid $20 from the petty cash fund to repair a tire on the company truck, Voucher No. 3. V 12 Paid $22 from the petty cash fund for a newspaper advertisement. Voucher No. 4. Issued Check No. 303 to replenish the petty cash fund. (Total and rule the petty cash payments record. Record the balance and the amount needed to replenish the fund in the Description column of the petty cash payments record.) 20 Paid $26 from the petty cash fund to reimburse an employee for expenses incurred to repair the company truck. Voucher No. 5. Paid $12.50 from the petty cash fund for phone calls made from a phone booth. Voucher No. 6. 24 July 5 15 17 28 Paid $25 from the petty cash fund as a contribution to the YMCA. Voucher No. 7. V Issued Check No. 308 to replenish the petty cash fund. (Total and rule the petty cash payments record. Record the balance and the amount needed to replenish the fund in the Description column of the petty cash payments record.) The following additional transactions occurred during July: Issued Check No. 302 to pay office rent, $650. Issued Check No. 304 for office equipment, $525. Issued Check No. 305 for the purchase of supplies, $133. Issued Check No. 306 to pay attorney fees, $1,000. 18 30 Issued Check No. 307 to pay newspaper for an advertisement, $200.20. REQUIRED 1. Record the petty cash transactions in a petty cash payments record. 2. Make all required general journal entries for the cash transactions. (Note: The petty cash fund was established and replenished twice during July.) 3. The bank statement on page 265 was received in the mail. Deposits were made on July 6 for $3,500 and on July 29 for $2,350. The checkbook balance on July 31 is $4,331.55. Notice the discrepancy in Check No. 302 that cleared the bank for $655. This check was written on July 5 for rent expense, but was incorrectly entered on the check stub and in the journal as $650. Prepare a bank reconcilia- tion and make any necessary journal entries as of July 31.