Requirement: Calculate the IRR of this project.?Should the project be accepted? Total assets Short-term assets/Cash Current senior

Requirement:

Calculate the IRR of this project.?Should the project be accepted?

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Total assets Short-term assets/Cash Current senior debt Net senior debt Subordinated debt (quasi-equity) Retained earnings Share capital Total capital Senior debt/Total capital Current ratio DSCR (senior debt)a DSCR (total debt)a Sales Cash flow before interest and principal repayment Interest on senior debt Senior debt principal repayment Equity investment Dividends and subordinated debt interest Subordinated debt principal repayment 1997 $163 63 100 163 39% 100 1998 1999 $778 $1,252 $1,328 $1,272 96 126 366 85 327 778 47% 312 29 595 144 2000 2001 50% 216 57 592 150 13 13 500 500 484 1,252 1,312 1,255 49% 1.3 5.2 4.6 394 170 12 29 70 522 150 22 63 47% 1.4 1.7 1.6 429 189 52 57 51 2002 $1,202 142 70 451 150 13 500 1,184 44% 1.6 1.6 1.5 429 190 7 70 47 57 2003 2004 2005 $1,132 157 70 381 150 13 500 1,114 40% 1.8 1.7 1.6 429 190 41 70 63 $1,062 172 70 311 150 13 500 1,044 36% 2.0 1.8 1.6 429 186 35 70 66 $991 188 70 240 150 13 500 973 32% 2.1 1.9 1.7 429 187 29 70 72 2006 2007 2008 2009 2010 $921 $851 203 219 70 170 150 13 500 903 27% 2.3 2.0 1.8 429 187 23 70 79 70 100 150 13 500 833 20% 2.5 2.0 1.7 429 171 17 70 68 $750 204 33 67 120 13 500 733 14% 4.0 2.1 1.4 429 170 11 70 73 30 $687 226 53 13 90 13 500 669 10% 3.2 4.3 2.2 429 171 7 33 79 30 $607 226 13 0 60 13 500 586 2% 7.1 3.0 1.8 429 170 4 53 106 30 2011 2012 $570 $530 226 226 0 0 30 13 500 543 0% 12.8 12.1 3.4 429 170 1 13 125 30 000 13 500 513 0% 16.1 na 5.2 429 170 0 0 140 30 Total assets Short-term assets/Cash Current senior debt Net senior debt Subordinated debt (quasi-equity) Retained earnings Share capital Total capital Senior debt/Total capital Current ratio DSCR (senior debt)a DSCR (total debt)a Sales Cash flow before interest and principal repayment Interest on senior debt Senior debt principal repayment Equity investment Dividends and subordinated debt interest Subordinated debt principal repayment 1997 $163 63 100 163 39% 100 1998 1999 $778 $1,252 $1,328 $1,272 96 126 366 85 327 778 47% 312 29 595 144 2000 2001 50% 216 57 592 150 13 13 500 500 484 1,252 1,312 1,255 49% 1.3 5.2 4.6 394 170 12 29 70 522 150 22 63 47% 1.4 1.7 1.6 429 189 52 57 51 2002 $1,202 142 70 451 150 13 500 1,184 44% 1.6 1.6 1.5 429 190 7 70 47 57 2003 2004 2005 $1,132 157 70 381 150 13 500 1,114 40% 1.8 1.7 1.6 429 190 41 70 63 $1,062 172 70 311 150 13 500 1,044 36% 2.0 1.8 1.6 429 186 35 70 66 $991 188 70 240 150 13 500 973 32% 2.1 1.9 1.7 429 187 29 70 72 2006 2007 2008 2009 2010 $921 $851 203 219 70 170 150 13 500 903 27% 2.3 2.0 1.8 429 187 23 70 79 70 100 150 13 500 833 20% 2.5 2.0 1.7 429 171 17 70 68 $750 204 33 67 120 13 500 733 14% 4.0 2.1 1.4 429 170 11 70 73 30 $687 226 53 13 90 13 500 669 10% 3.2 4.3 2.2 429 171 7 33 79 30 $607 226 13 0 60 13 500 586 2% 7.1 3.0 1.8 429 170 4 53 106 30 2011 2012 $570 $530 226 226 0 0 30 13 500 543 0% 12.8 12.1 3.4 429 170 1 13 125 30 000 13 500 513 0% 16.1 na 5.2 429 170 0 0 140 30

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