EVA = (Return on Capital - Cost of Capital) (Capital Invested in Project)
这个应该是eva的计算公式,
以下是例题做法,
Capital Invested in Assets in Place =$ 100
EVA from Assets in Place = (.15 – .10) (100)/.10 =$ 50
+ PV of EVA from New Investments in Year 1 = [(.15 -– .10)(10)/.10] =$ 5
+ PV of EVA from New Investments in Year 2 = [(.15 -– .10)(10)/.10]/1.1 = $ 4.55
+ PV of EVA from New Investments in Year 3 = [(.15 -– .10)(10)/.10]/1.12 =$ 4.13
+ PV of EVA from New Investments in Year 4 = [(.15 -– .10)(10)/.10]/1.13 =$ 3.76
+ PV of EVA from New Investments in Year 5 = [(.15 -– .10)(10)/.10]/1.14 =$ 3.42
Value of Firm =$ 170.85
15%的return,10%的cost,10是investment,
可是为什么最后要再除一个10%
请高手指点一下,谢谢