第三章测验与作业第4题答案解析

<p>请问老师可否解答第三章测验与作业第4题：</p><p><br ></p><p>设企业的资本成本是10%，有三项投资项目。有关数据如下表所示：</p><p><br ></p><p><br ></p><p><table><tbody><tr><td width="49" rowspan="2" valign="top" style="margin: 0px; padding: 0px 7px; outline: none; border-color: windowtext; width: 49px;" ><p>年份</p></td><td width="190" colspan="3" valign="top" style="margin: 0px; padding: 0px 7px; outline: none; border-left-style: none; border-top-color: windowtext; border-right-color: windowtext; border-bottom-color: windowtext; width: 190px;" ><p>A项目</p></td><td width="203" colspan="3" valign="top" style="margin: 0px; padding: 0px 7px; outline: none; border-left-style: none; border-top-color: windowtext; border-right-color: windowtext; border-bottom-color: windowtext; width: 203px;" ><p>B项目</p></td><td width="170" colspan="3" valign="top" style="margin: 0px; padding: 0px 7px; outline: none; border-left-style: none; border-top-color: windowtext; border-right-color: windowtext; border-bottom-color: windowtext; width: 170px;" ><p>C项目</p></td></tr><tr><td width="60" valign="top" style="margin: 0px; padding: 0px 7px; outline: none; border-top-style: none; border-left-style: none; border-right-color: windowtext; border-bottom-color: windowtext; width: 60px;" ><p>净收益</p></td><td width="49" valign="top" style="margin: 0px; padding: 0px 7px; outline: none; border-top-style: none; border-left-style: none; border-right-color: windowtext; border-bottom-color: windowtext; width: 49px;" ><p>折旧</p></td><td width="81" valign="top" style="margin: 0px; padding: 0px 7px; outline: none; border-top-style: none; border-left-style: none; border-right-color: windowtext; border-bottom-color: windowtext; width: 81px;" ><p>现金流量</p></td><td width="70" valign="top" style="margin: 0px; padding: 0px 7px; outline: none; border-top-style: none; border-left-style: none; border-right-color: windowtext; border-bottom-color: windowtext; width: 70px;" ><p>净收益</p></td><td width="57" valign="top" style="margin: 0px; padding: 0px 7px; outline: none; border-top-style: none; border-left-style: none; border-right-color: windowtext; border-bottom-color: windowtext; width: 57px;" ><p>折旧</p></td><td width="76" valign="top" style="margin: 0px; padding: 0px 7px; outline: none; border-top-style: none; border-left-style: none; border-right-color: windowtext; border-bottom-color: windowtext; width: 50px;" ><p>现金流量</p></td><td width="47" valign="top" style="margin: 0px; padding: 0px 7px; outline: none; border-top-style: none; border-left-style: none; border-right-color: windowtext; border-bottom-color: windowtext; width: 47px;" ><p>净收益</p></td><td width="45" valign="top" style="margin: 0px; padding: 0px 7px; outline: none; border-top-style: none; border-left-style: none; border-right-color: windowtext; border-bottom-color: windowtext; width: 45px;" ><p>折旧</p></td><td width="77" valign="top" style="margin: 0px; padding: 0px 7px; outline: none; border-top-style: none; border-left-style: none; border-right-color: windowtext; border-bottom-color: windowtext; width: 77px;" ><p>现金流量</p></td></tr><tr><td width="49" valign="top" style="margin: 0px; padding: 0px 7px; outline: none; border-top-style: none; border-right-color: windowtext; border-bottom-color: windowtext; border-left-color: windowtext; width: 49px;" ><p>0</p></td><td width="60" valign="top" style="margin: 0px; padding: 0px 7px; outline: none; border-top-style: none; border-left-style: none; border-right-color: windowtext; border-bottom-color: windowtext; width: 60px;" ><p>&nbsp;</p></td><td width="49" valign="top" style="margin: 0px; padding: 0px 7px; outline: none; border-top-style: none; border-left-style: none; border-right-color: windowtext; border-bottom-color: windowtext; width: 49px;" ><p>&nbsp;</p></td><td width="81" valign="top" style="margin: 0px; padding: 0px 7px; outline: none; border-top-style: none; border-left-style: none; border-right-color: windowtext; border-bottom-color: windowtext; width: 81px;" ><p>-20000</p></td><td width="70" valign="top" style="margin: 0px; padding: 0px 7px; outline: none; border-top-style: none; border-left-style: none; border-right-color: windowtext; border-bottom-color: windowtext; width: 70px;" ><p>&nbsp;</p></td><td width="57" valign="top" style="margin: 0px; padding: 0px 7px; outline: none; border-top-style: none; border-left-style: none; border-right-color: windowtext; border-bottom-color: windowtext; width: 57px;" ><p>&nbsp;</p></td><td width="76" valign="top" style="margin: 0px; padding: 0px 7px; outline: none; border-top-style: none; border-left-style: none; border-right-color: windowtext; border-bottom-color: windowtext; width: 50px;" ><p>-9000</p></td><td width="47" valign="top" style="margin: 0px; padding: 0px 7px; outline: none; border-top-style: none; border-left-style: none; border-right-color: windowtext; border-bottom-color: windowtext; width: 47px;" ><p>&nbsp;</p></td><td width="45" valign="top" style="margin: 0px; padding: 0px 7px; outline: none; border-top-style: none; border-left-style: none; border-right-color: windowtext; border-bottom-color: windowtext; width: 45px;" ><p>&nbsp;</p></td><td width="77" valign="top" style="margin: 0px; padding: 0px 7px; outline: none; border-top-style: none; border-left-style: none; border-right-color: windowtext; border-bottom-color: windowtext; width: 77px;" ><p>-12000</p></td></tr><tr><td width="49" valign="top" style="margin: 0px; padding: 0px 7px; outline: none; border-top-style: none; border-right-color: windowtext; border-bottom-color: windowtext; border-left-color: windowtext; width: 49px;" ><p>1</p></td><td width="60" valign="top" style="margin: 0px; padding: 0px 7px; outline: none; border-top-style: none; border-left-style: none; border-right-color: windowtext; border-bottom-color: windowtext; width: 60px;" ><p>1800</p></td><td width="49" valign="top" style="margin: 0px; padding: 0px 7px; outline: none; border-top-style: none; border-left-style: none; border-right-color: windowtext; border-bottom-color: windowtext; width: 49px;" ><p>10000</p></td><td width="81" valign="top" style="margin: 0px; padding: 0px 7px; outline: none; border-top-style: none; border-left-style: none; border-right-color: windowtext; border-bottom-color: windowtext; width: 81px;" ><p>11800</p></td><td width="70" valign="top" style="margin: 0px; padding: 0px 7px; outline: none; border-top-style: none; border-left-style: none; border-right-color: windowtext; border-bottom-color: windowtext; width: 70px;" ><p>（1800）</p></td><td width="57" valign="top" style="margin: 0px; padding: 0px 7px; outline: none; border-top-style: none; border-left-style: none; border-right-color: windowtext; border-bottom-color: windowtext; width: 57px;" ><p>3000</p></td><td width="76" valign="top" style="margin: 0px; padding: 0px 7px; outline: none; border-top-style: none; border-left-style: none; border-right-color: windowtext; border-bottom-color: windowtext; width: 50px;" ><p>1200</p></td><td width="47" valign="top" style="margin: 0px; padding: 0px 7px; outline: none; border-top-style: none; border-left-style: none; border-right-color: windowtext; border-bottom-color: windowtext; width: 47px;" ><p>600</p></td><td width="45" valign="top" style="margin: 0px; padding: 0px 7px; outline: none; border-top-style: none; border-left-style: none; border-right-color: windowtext; border-bottom-color: windowtext; width: 45px;" ><p>4000</p></td><td width="77" valign="top" style="margin: 0px; padding: 0px 7px; outline: none; border-top-style: none; border-left-style: none; border-right-color: windowtext; border-bottom-color: windowtext; width: 77px;" ><p>4600</p></td></tr><tr><td width="49" valign="top" style="margin: 0px; padding: 0px 7px; outline: none; border-top-style: none; border-right-color: windowtext; border-bottom-color: windowtext; border-left-color: windowtext; width: 49px;" ><p>2</p></td><td width="60" valign="top" style="margin: 0px; padding: 0px 7px; outline: none; border-top-style: none; border-left-style: none; border-right-color: windowtext; border-bottom-color: windowtext; width: 60px;" ><p>3240</p></td><td width="49" valign="top" style="margin: 0px; padding: 0px 7px; outline: none; border-top-style: none; border-left-style: none; border-right-color: windowtext; border-bottom-color: windowtext; width: 49px;" ><p>10000</p></td><td width="81" valign="top" style="margin: 0px; padding: 0px 7px; outline: none; border-top-style: none; border-left-style: none; border-right-color: windowtext; border-bottom-color: windowtext; width: 81px;" ><p>13240</p></td><td width="70" valign="top" style="margin: 0px; padding: 0px 7px; outline: none; border-top-style: none; border-left-style: none; border-right-color: windowtext; border-bottom-color: windowtext; width: 70px;" ><p>3000</p></td><td width="57" valign="top" style="margin: 0px; padding: 0px 7px; outline: none; border-top-style: none; border-left-style: none; border-right-color: windowtext; border-bottom-color: windowtext; width: 57px;" ><p>3000</p></td><td width="76" valign="top" style="margin: 0px; padding: 0px 7px; outline: none; border-top-style: none; border-left-style: none; border-right-color: windowtext; border-bottom-color: windowtext; width: 50px;" ><p>6000</p></td><td width="47" valign="top" style="margin: 0px; padding: 0px 7px; outline: none; border-top-style: none; border-left-style: none; border-right-color: windowtext; border-bottom-color: windowtext; width: 47px;" ><p>600</p></td><td width="45" valign="top" style="margin: 0px; padding: 0px 7px; outline: none; border-top-style: none; border-left-style: none; border-right-color: windowtext; border-bottom-color: windowtext; width: 45px;" ><p>4000</p></td><td width="77" valign="top" style="margin: 0px; padding: 0px 7px; outline: none; border-top-style: none; border-left-style: none; border-right-color: windowtext; border-bottom-color: windowtext; width: 77px;" ><p>4600