1).Green Campground is considering adding a driving range to its facility. The range would cost $60,000, would be depreciated on a straight-line basis over its 6-year life, and would have a zero salvage value. The anticipated revenue from the project is $40,000 a year with $10,000 variable cost. The fixed cost would be $5,000. The project will require $6,000 of net working capital each year, which is recoverable at the end of the project. What is the internal rate of return on this project at a tax rate of 21 percent?

25.04 percent

21.29 percent

27.74 percent

23.32 percent

2). Ruby Winery is considering expanding its wine-making operations. The expansion will require new equipment costing $500,000 that would be depreciated on a straight-line basis to a zero balance over the 5-year life of the project. The estimated salvage value is $80,000. The project requires $50,000 for net working capital, all of which will be recouped at the end of the project. The projected operating cash flow is $180,000 a year. What is the net present value of this project if the relevant discount rate is 13 percent and the tax rate is 21 percent?

$125,512.55

$144,542.05

$163,630.83

$183,738.72

3). Green Campground is considering adding a driving range to its facility. The range would cost $60,000, would be depreciated on a straight-line basis over its 6-year life, and would have a zero salvage value. The anticipated revenue from the project is $40,000 a year with $10,000 variable cost. The fixed cost would be $5,000. The project will require $6,000 of net working capital each year, which is recoverable at the end of the project. What is the net present value of this project if the relevant discount rate is 10 percent and the tax rate is 21 percent?

$36,411.52

$38,918.22

$34,833.14

$32,549.29

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