ESTADO DE RESULTADOS

1 2 3 4 5 6 7 8 9 10
Demanda 20,000 20,000 20,000 20,000 28,000 28,000 28,000 28,000 30,000 30,000
Ingresos 11,600,000 11,600,000 11,600,000 11,600,000 16,240,000 16,240,000 16,240,000 16,240,000 17,400,000 17,400,000
C. Variables 2,700,000 2,700,000 2,700,000 2,700,000 3,780,000 3,780,000 3,780,000 3,780,000 4,050,000 4,050,000
C. Fijo 2,500,000 2,500,000 2,500,000 2,500,000 2,500,000 2,500,000 2,500,000 2,500,000 2,500,000 2,500,000
Royalti 800,000 800,000 800,000 800,000 800,000
Comisión 174,000 174,000 174,000 174,000 243,600 243,600 243,600 243,600 261,000 261,000
Depreciación 1,425,000 1,425,000 1,425,000 1,425,000 1,425,000 1,425,000 1,425,000 1,425,000 1,425,000 1,425,000
U. operativa 4,001,000 4,001,000 4,001,000 4,001,000 7,491,400 8,291,400 8,291,400 8,291,400 9,164,000 9,164,000
Impuesto 1,000,250 1,000,250 1,000,250 1,000,250 1,872,850 2,072,850 2,072,850 2,072,850 2,291,000 2,291,000
U. Neta 3,000,750 3,000,750 3,000,750 3,000,750 5,618,550 6,218,550 6,218,550 6,218,550 6,873,000 6,873,000

Depreciacion VS
Camiones 6,000,000 300,000 570,000 225,000
L. Produccion 9,000,000 450,000 855,000 900,000
Terreno 8,000,000 8,000,000

0 1 2 3 4 5 6 7 8 9 10 Liquidación
Demanda 20,000 20,000 20,000 20,000 28,000 28,000 28,000 28,000 30,000 30,000
Ingresos 11,600,000 11,600,000 11,600,000 11,600,000 16,240,000 16,240,000 16,240,000 16,240,000 17,400,000 17,400,000
C. Variables 2,700,000 2,700,000 2,700,000 2,700,000 3,780,000 3,780,000 3,780,000 3,780,000 4,050,000 4,050,000
C. Fijo 2,500,000 2,500,000 2,500,000 2,500,000 2,500,000 2,500,000 2,500,000 2,500,000 2,500,000 2,500,000
Royalti 800,000 800,000 800,000 800,000 800,000
Comisión 174,000 174,000 174,000 174,000 243,600 243,600 243,600 243,600 261,000 261,000
U. operativa 5,426,000 5,426,000 5,426,000 5,426,000 8,916,400 9,716,400 9,716,400 9,716,400 10,589,000 10,589,000
Impuesto 1,000,250 1,000,250 1,000,250 1,000,250 1,872,850 2,072,850 2,072,850 2,072,850 2,291,000 2,291,000
U. Neta 4,425,750 4,425,750 4,425,750 4,425,750 7,043,550 7,643,550 7,643,550 7,643,550 8,298,000 8,298,000
Inversion 23,900,000
Camiones 6,000,000 300,000
L. produccion 9,000,000 450,000
Terrenos 8,000,000 8,000,000
Capital Trabajo 900,000 900,000
FNE -23,900,000 4,425,750 4,425,750 4,425,750 4,425,750 7,043,550 7,643,550 7,643,550 7,643,550 8,298,000 8,298,000 9,650,000
FNE -23,900,000 4,425,750 4,425,750 4,425,750 4,425,750 7,043,550 7,643,550 7,643,550 7,643,550 8,298,000 17,948,000
VAN Eco. S/. 12,727,481.74
TIR 21%

Deuda 17,925,000
Pago 4,115,712 4,115,712 4,115,712 4,115,712 4,115,712 4,115,712
Interes 1,792,500 1,560,179 1,304,625 1,023,517 714,297 374,156
Escudo Tributario 448,125 390,045 326,156 255,879 178,574 93,539
Pago Real 3,667,587 3,725,668 3,789,556 3,859,833 3,937,138 4,022,173
FNE Fin 5,975,000 758,163 700,082 636,194 565,917 3,106,412 3,621,377 7,643,550 7,643,550 8,298,000 17,948,000

i 10%

Deuda Interes Amorti Pago Saldo

1 17,925,000 1,792,500 2,323,212 4,115,712 15,601,788
2 15,601,788 1,560,179 2,555,534 4,115,712 13,046,254
3 13,046,254 1,304,625 2,811,087 4,115,712 10,235,167
4 10,235,167 1,023,517 3,092,196 4,115,712 7,142,972
5 7,142,972 714,297 3,401,415 4,115,712 3,741,557
6 3,741,557 374,156 3,741,557 4,115,712 0

Valor Participacion Costo Promedio Ponderado

Deuda 17,925,000 75% 8% 5.63%
Recursos Propios 5,975,000 25% 21% 5.25%
Total 23,900,000 100% 29% 10.88% WACC

TIO 21%
Tasa de Interes 10%
Impuesto 25%
Costo de deuda 8%
VANF S/. 16,649,792.30