Casos Practicos Costos de Capital

 

Co agpraso ON durolta ac ahar`j`jk >2?1 fo kntaljdk ac sjmujalta rasuctodk Astodk da ^asuctodk @kl`aptk  + Yaltos latos  - @kstk da valtos  ^a  ^asuctodk nrutk  - Mostk da odgjljstro`jðl y valtos  ^a  ^asuctodk kparotjvk  - Dapra`jo`jðl  ^a  ^asuctodk latk kparotjvk (NOJT)  - Mostks ijlol`jarks  ^a  ^asuctodk oltas da jgpuastks  - Jgpuastk o co ^alto  ^a  ^ asuctodk latk

Q$D Gjcas >2,222.22 -?>,222.22 -92.22% 6,222.22 42.22% -4,222.22 ->2.22% 4,222.22 >2.22% -?,022.22 -9.12% >,=22.22 ?0.12% -=>2.22 -0.92% ?,:62.22 :.:2% -1:4.22 ->.:=% ?,069.22 9.:0%

GATKDK ?

AYO 7 ROT^JGKLJK(]O@@-^KJ@@) ^KJ@@ ]O@@ YO AYO

?6.:2% ?4.24% 4.69% 469

GATKDK>

^APQCTODK LATK JLTA^APAP (?-T) LKROT @KPTK DA CKP ^A@Q^PKP AYO GATKDK0

]O@@ 7 92%V?1% + 42%V?6%(?-T) LKROT 7 NOJT (?-T) AYO 7 LKROT - (DAQDO+ROT^JGKLJK)*]O@

?,069 124 ?6:2 ?424 469

?4.24% ?6:2 469

GATKDK4

AYO 7 ANJOT(?-T)-]O@@

469

 

Dotks8 ^a`ursks prkpjks Daudo @kstk dac o``jkljsto (Es) @kstk da co daudo (Ed) Jgpuastk o co ralto (t) Rask - ^a`ursk Rrkpjk (]s) Rask - Daudo (]d)

9,222.22 4,222.22 ?1.22% ?6.22%

ccogodo ea, toso gjljgo r toso qua ta `knro ac nol`k

02.22% 92.22% % DAC ROPJYK + ROT^JGKLJK 42.22% % DAC ROPJYK + ROT^JGKLJK

@ïc`uck dac LKROT8 Co Qtjcjdod kparotjvo lato daspuês da jgpuastks (LKROT LKROT 7 NOJT*(?-t) LKROT ?,6:2.22 @ïc`uck dac ]O@@ 7 @RR@ 8 @KPTK R^KGADJK RKLDA^ODK DA @ORJTOC ]O@@ 7 @RR@ 7 ]s Es + ]d UEd (? - t)W @RR@ 7 92 x ?1 + 42(?6(? - 02)) ]O@@ 7 @RR@

?4.24%

@ïc`uck dac AYO AYO7LKROT-U(^a`ursks Rrkpjks + Daudo) * @RR@W AYO 469.22

 

 

quarjdo pkr cks o``  

 

Osjgjsgk, co agpraso ON GQAPT^O ac sjmujalta gkvjgjaltk agprasorjoc

Pjtuo`jðl Ijlol`jaro oc 0?-?>->2?1 O@TJYK

ROPJYK Z ROT^JGKLJK

@oho - Nol`ks

?1,>12.22

Trjnutks pkr pomor  

@ualtos pkr `knror `kgar`jocas

>?,19>.=2

Rrkvaadkras

Jlvaltorjk

^agularo`jklas x pomor 

 - Godaro

1,622.22

- Guancas da kij`jlo

1,>12.22

 - Guancas da fkmor

1,222.22

Tktoc O`tjvk `krrjalta

1>,69>.=2

Daudo nol`orjo @/R

Tktoc Rosjvk `krrjalta

Goqujlorjo y aqujpk

?>1,222.22

@opjtoc Pk`joc

Dapra`jo`jðl o`ugucodo

(0=,122.22)

Qtjcjdodas rataljdos

Tktoc O`tjvk lk `krrjalta Tktoc O`tjvk

6=,122.22 ?42,09>.=2

Tktoc Rotrjgkljk Tktoc Rosjvk y Rotrjgkljk

Pa pjda8 LKROT @opjoc da Tronohk

09,10?.9=

Qtcjdod da kparo`ejðl x (?-j

-??,26?.29

O@ - R@

O`tvks Ijhks @opjoc

6=,122.22 =9,4?6.:4

@ksk dac @opjoc

?1,>60.=:

AYO

>?,>4=.66

Goq. Aq + dapra`jo`jðl Ew + o`t. Ijhks @RR@ x `opjtoc LKROT - @ksk da `opjoc

GATKDK ?

AYO 7 ROT^JGKLJK(]O@@-^KJ@@) ROT^JGKLJK(]O@@-^KJ@@) ^KJ@@ ]O@@ YO AYO

4=.62% >2.22% >=.62% >?,>4=.66

 

]O@@ 7 >2%

GKDA DACK CK @O @ORG RG - @O @ORJ RJTO TOCC OP OPPP GK ra 7 ri+ n(rg-ri)

GATKDK>

^APQCTODK LATK JLTA^APAP (?-T) LKROT @KPTK DA CKP ^A@Q^PKP AYO

]O@@ 7( ROT^JGKLJK/DAQD

>:,>>1 =,029 0910> ?1,>60.=: >?>4=.66

ri 7 ral raldj djgj gjal altk tk T njc njccs cs nk nkcs csoo L rg 7 rald raldjgja jgjaltk ltk asparod asparodk k pk n 7 nato 7 irxig 7 ohusta da na rp7 rjasmk pojs

GATKDK0

]O@@ 7 92%V?1% + 42%V?6%(?-T)

2.22%

LKROT 7 NOJT (?-T)

0910?.9=

AYO 7 LKROT - (DAQDO+ROT^JGKLJK)*]O@@

>?,>4=.66

GATKDK4

AYO 7 ANJOT(?-T)-]O@@

>?,>4=.66

 

Astodk da ^asuctodks oc 0?-?>->2?1

ahg toso nklks da aauu prjgoo da gar`od prjg gar`odk k sknra sknra nklk nato opcol`odk poro jldustrjo @OGR 7 >.9% + ( >.>?% V 1.= @OGR

 

?,240.=9

 + Yaltos latos - @kstk da valtos

 

>,:22.22

Qtcjdod nruo

?12,:06.:2

  ?2,222.22

- Mostk da odgjljstro`jðl y valto toss  - Dapra`jo`jðl

-69,>12 12..62 -?>,122.22

  12,222.22

Qtcjdod da kparo`jðl

 - Mostks lol`jarks   90,:40.=9

Qtcjdod olas da Jgpks

  =2,222.22

- Jgpuastk o co ^alto

 

Qtcjdod lao

9,4?6.:4

40?,>14.22 ->62,0?1.?2

1>,?66.?2

-?2,40=.9>

->2.66%

4?,=12.46

-?>,1>1.?4 >:,>>1.04

  =9,4?6.:4 ?42,09>.=2

 

@kstk da @opjtoc (@RR@) Jgpuastk o co ralto (t)

>2.22%

rkj`` wo`` molol`jo ``

4=.62% LKROT/ROT^JGKLJK >2.22% >=.62% ck qua malaro vockr

02.22%

p. ^alo)

+ROT )^A + (DAQDO/DAQDO+ROT) ^D (?-T)

 

AT R^J@A OLD GKDAC ra 7 ri+ n(pr+rp)+ n(pr+rp)+? ? / (?.2>)*(?+jlo`j (?.2>)*(?+jlo`jkl)-? kl)-?

     

aw ykre r sa`tkr to

tosos da cjnra rjasmk 7 nklks da taskrk AAQQ 7 toso da raltonjcjdod al QPO goreat pragjug 7 nato 7 prjgo da gar`odk GOZK^ _QA J, AP ^JAPMKPK

 

 

 

s da aauu

:) >.=0%

>.92% 1.=:% >.>?%

 

Co agpraso ON prasalto ac sjmujalta prkya`tk da jlvarsjkl

wo``

Jlvarsjðl Fkrjzklta @RR@ Rrklks`k da valtos Rkr oÿk Qljdodas Yockr valto @Y Qljtorjk @tks Ijhks Toso J^

### 9.22 9.2 2 oÿks oÿks ?9.22%

Oÿk ? 012

Oÿk > 0=1

1,222.22 >,122.22 022,222.22 oÿk 02.22%

Oÿk 0 422

Oÿk 4 4>1

Oÿk 1 412

Icuhk dac Rrkya`tk Oÿk

Oÿk ?

Oÿk >

Oÿk 0

?,=12,222

?,6=1,222

>,222,222

>,?>1,222

>,>12,222

@kstks Ijhks

022,222

022,222

022,222

022,222

022,222

@kstks Yor

6=1,222

:0=,122

?, ?,222,222

? ?,,29>,122

? ?,,?>1,222

Dapra`jo`

022,222

022,222

022,222

022,222

022,222

>=1,222

00=,122

422,222

49>,122

1>1,222

6>,122

?2?,>12

?>2,222

?06,=12

?1=,122

LKROT

?:>,122

>09,>12

>62,222

0>0,=12

09=,122

IL@

4:>,122

109,>12

162,222

9>0,=12

99=,122

YOL

046,6:9 ?,622,222

?,122,222

?,>22,222

:22,222

922,222

E * @opjtoc

>66,222

>42,222

?:>,222

?44,222

:9,222

AYO

(:1,122)

(0,=12)

66,222

?=:,=12

>=?,122

YOL AYO

046,6:9

Yaltos

QOJJ Jgp ^alto

@opjtoc Jlj`joc

vockr o`tuoc latk

Oÿk 4

Oÿk 1

vockr a`klkgj`k omram

Rark qua poso sj pklagks vockras `klstoltas da valtos8 Yockr `klstolta da valtos

422 uljdodas

Icuhk dac Rrkya`tk Oÿk

Oÿk ?

Oÿk >

Oÿk 0

>,222,222

>,222,222

>,222,222

>,222,222

>,222,222

022,222

022,222

022,222

022,222

022,222

?,222,222 022,222

?,222,222 022,222

?,222,222 022,222

?,222,222 022,222

?,222,222 022,222

QOJJ

422,222

422,222

422,222

422,222

422,222

Jgp ^alto

?>2,222

?>2,222

?>2,222

?>2,222

?>2,222

LKROT

>62,222

>62,222

>62,222

>62,222

>62,222

IL@

162,222

162,222

162,222

162,222

162,222

YOL

00=,?4=

?,622,222 >66,222

?,122,222 >42,222

?,>22,222 ?:>,222

:22,222 ?44,222

922,222 :9,222

-6,222

42,222

66,222

?09,222

?64,222

Yaltos @kstks Ijhks @kstks Yor Dapra`jo`

Oÿk 4

Oÿk 1

 

@opjtoc Jlj`joc E * @opjtoc

AYO YOL AYO

00=,?4=

 

Oÿk 9 4=1

Oÿk 9 >,0=1,222 022,222 ?,?6=,122 022,222 16=,122 ?=9,>12 4??,>12

0,9??,>12

=??,>12

022,222 46,222

090,>12 dk

Oÿk 9 >,222,222 022,222 ?,222,222 022,222 422,222 ?>2,222 >62,222

162,222

 

022,222 46,222

>0>,222

620,>12

 

]O@@

^AR^APALTO AC @KPTK DAC @ORJTOC JL

^KJ@

QOT*(?-T) O@TJYK

LKROT O@TJYK

^AR^APALTO CO ^ALTONJCJDOD DA CO A

^KA

QTJCJDOD ROT^JGKLJK

^AR^APALTO CO QTJCJDOD DA CO AGR^

^KO

QTJCJDOD O@TJYK

^AR^APALTO CO ^ALTONJCJDOD DA TKD

AYO

ROT^JGKLJK*(]O@@-^KJ@@)

AP AC YOCK^ OM^AMODK DA CO AGR^AP

 

 

 

 

A^TJDK

GR^APO AL TA^GJLKP DAC @ORJTOC JLYA^TJDK

PO K DA CKP @ORJTOCAP R^KRJKP

 

KP CKP O@TJYKP R^KRJKP Z DA TA^@A^KP

 

O O T^OYAX DA CKP OßKP K CKP ^APQCTODKP