Financial Analysis and Performance

This assignment presents a detailed financial analysis of a company, examining its performance over a specified period. It requires calculations and interpretations of key financial ratios such as profitability, liquidity, and solvency. The analysis should highlight strengths and weaknesses in the company's financial position and provide recommendations for improvement based on identified trends and insights.

Running Head: Financial Problems Analysis
Financial Problems
Analysis

Financial Problems Analysis
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Table of Contents
Question-1.............................................................................................................................................1
Question-2.............................................................................................................................................5
Question-3.............................................................................................................................................6
Question 4.............................................................................................................................................7
Question 5.............................................................................................................................................8
Question -6..........................................................................................................................................10
Question 7...........................................................................................................................................13
Question 8...........................................................................................................................................16
Question 9...........................................................................................................................................18
Question10..........................................................................................................................................19
References...........................................................................................................................................22
Appendix-1......................................................................................................................................23
Appendix 2......................................................................................................................................27
Appendix 3......................................................................................................................................29
.........................................................................................................................................................29

Financial Problems Analysis
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Question-1
Question-1(1)
Amount per Instalment
Loan
$20,00,000.0
0
Rate 0.6667%
Terms Monthly
Number of Months 120
Instalment $ 24,265.52
Question-1 (2)
Amount of Interest in 1st Instalment
Opening Loan Balance $20,00,000.00
Rate 0.67%
Interest $ 13,333.33
Question-1 (3)
Amount of Principal in 1st Instalment
Instalment $ 24,265.52
Less: Interest $ 13,333.33
Principal $ 10,932.19
Question-1 (4) Refer APPENDIX 1
Remaining amount to be paid off after
36th payment
$15,56,869.8
8
Question-1 (5) Refer APPENDIX 1 & 2

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Interest cost for the remaining $ 4,81,463.28
7 years @ 8 %
Less: Interest cost for the 7 years @ 7% $ 4,16,906.58
Interest Savings in Refinancing $ 64,556.70
Less: Refinancing Cost $ 2,50,000.00
Net Loss
$(1,85,443.30
)
Therefore the loan should not be
Refinanced
Question-1 (6)
The Loan Instalment if payments
are scheduled quarterly
Loan
$20,00,000.0
0
Rate 2%
Terms Quarterly
Number of Months 40
Instalment $ 73,111.50
Question-1 (7) Refer APPENDIX 3
Remaining amount to be $15,55,905.65
paid off by Casino.com after 12th
payment

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Question-1 (8)
The annual rate for 8% loan is the nominal rate and that is 7.7208
Using r = m × [ ( 1 + I)1/m - 1
Question-1 (9)
Calculation of Effective Rate
Nominal Rate 8%
Compounding Monthly
Periods 120
Effective rate 8.30%

Financial Problems Analysis
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Financial Problems Analysis
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Question-2
Question-2 (a)
Market Rate Return
=100-78.12
78.12
=21.88
78.12
=28% (For 10 Years)
= 2.8% p.a.
Question-2(b)
Face value 100
Coupon Rate 0.00%
YTM 3.50%
Interest 0
Periods 9
Bond price after one year ₹ 73.37
Return for the year
Interest for 1st year 0
Purchase price 78.12
Sale price ₹ 73.37
Return (%) -6.08%
Question 2 (C)

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Face value 10000
Coupon 2.50%
YTM* 2.50%
Bo (Bond Price) 1000
Face value 1000
Coupon 2.50%
YTM 3.50%
Interest 25
Periods 9
Bond price after one year
₹
923.92
Return for the year
Interest for 1st year 25
Purchase price 1000
Sale price
₹
923.92
Return (%) -5.11%
Notes: *Because bond is selling at par, YTM would be equal to the coupon
rate.
As in Part (b) no coupon rate is there therefore no amount of interest is
earned on it.
Therefore the loss is higher in Part (b).
In Part c) Interest at the rate of 2.5% is earned therefore it has suffered lesser loss.

Financial Problems Analysis
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Question-3
Question 3(a)
P0 = D1
Calculation of Current Market Price Ke-G
= 3.7
.11-.05
$61.67
Question 3(b)
Calculation of Rate of Return Ke= (D1/P0) + g
= 11% p.a.

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Question 4
Risk Classification Risk
Janet Yellen retires as Chairman of the Federal
Reserve and Arnold Schwarzenegger is
appointed to take her place. Systematic Risk
Martha Stewart is convicted of insider trading
and is sentenced to prison. Unsystematic Risk
An OPEC embargo raises the world market price
of oil. Systematic Risk
A major consumer products firm loses a
product liability case. Unsystematic Risk
The US Supreme Court rules that no employer
can lay off an employee without first giving 30
days’ notice. Systematic Risk

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Question 5
Year Cash Flows
Initial Investment -85000
1 18000
2 22500
3 27000
4 31500
5 36000
Year
Discounting
Factors Cash Flows
PV of Cash
Flows
Cumulative
Cash flows
0 1 -85000 -85000.00 0
1 0.893 18000 16071.00 18000
2 0.797 22500 17937.00 40500
3 0.712 27000 19218.00 67500
4 0.636 31500 20019.00 99000
5 0.567 36000 20427.00 135000
Net Present Value 8672.00
(i) Payback Period = 3 Years + 17500.00
31500.00
= 3 Years + 0.56
= 3.56Years
(ii) NPV = 8672.00

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(iii) Statement Of Calculation Of IRR For the Proposed Investment :-
NPV @ 12% NPV @ 15% NPV @ 16% NPV @ 18%
0
Yea
r -85000.00 -85000.00 -85000.00 -85000.00
1-
5th
Yea
r 93672.54 86326.93 84073.40 79829.70
8672.54 1326.93 -926.60 -5170.30
IRR = Lower Rate + NPV at Lower Rate * (Higher Rate -Lower Rate)
PV at Lower Rate - PV at Upper
Rate
12% + 8672.54 * (16-12)
9599.14
12% + 3.61
= 15.61%
The Project should be accepted since the NPV is positive and IRR is also above the
cost of capital to the Reynolds Enterprises. Since both NPV and IRR are
recommending to accept the project, the Reynolds enterprise should accept the(iv)

Financial Problems Analysis
12
projects based on its NPV calculation since it clear that it is financially viable for
the business considering positive cash flows separately for each year.
Question -6
Question 6(a)
Renovate Replace
-9000000 -1000000
3045000 522000
2268000 378000
1974000 263200
1601600 171600
1242500 99400
$11,31,100.0
0 $4,34,200.00
Rank 1 Rank 2
Question 6(b)
Statement Of Calculation Of Payback Period , NPV , IRR For the
Yea
r Renovate Replace
0 −9,000,000 −1,000,000
1 35,00,000 6,00,000
2 30,00,000 5,00,000
3 30,00,000 4,00,000
4 28,00,000 3,00,000
5 25,00,000 2,00,000

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Renovate Purpose :-
Years NPV @ 15% NPV @ 20%
NP
V
@
21
%
0 Year -9000000 -9000000
1-5th Year 10128309 9091114
1128309 91114
IRR = Lower Rate + NPV at Lower Rate * (Higher Rate -Lower Rate)
PV at Lower Rate - PV at Upper
Rate
15% + 1128308.89 * (21-15)
1223205.86
15% + 5.53
20.53% {Rank 2}
Statement Of Calculation Of Payback Period , NPV , IRR For the
Replace Purpose :-
NPV @ 15% NPV @ 30%
NP
V
@

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40
%
0 Year -1000000 -1000000
1-5th Year 1433779 1098367
433779 98367
IRR = Lower Rate + NPV at Lower Rate * (Higher Rate -Lower Rate)
PV at Lower Rate - PV at Upper Rate
15% + 433778.78 * (40-15)
489053.37
15% + 22.17
37.17% {Rank 1}
Question 6(c)
The biggest reason for NPV method and IRR method yielding
conflicting ranking is due to the reinvestment rate assumption. NPV
works on the inherent assumption that cash inflows at different point
of time can be reinvested at cost of capital, while IRR method
assumes that reinvestment is made at the IRR rate (David, 2011).

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Question 7
Project A Project B Project C Project D Project E
Year Cash Flows
0 –$20,000 –$600,000 –$150,000 –$760,000 –
$100,000
1 $3,000 $1,20,000 $18,000 $1,85,000
2 3,000 1,45,000 17,000 1,85,000
3 3,000 1,70,000 16,000 1,85,000
4 3,000 1,90,000 15,000 1,85,000
5 3,000 2,20,000 15,000 1,85,000
6 3,000 2,40,000 14,000 1,85,000
7 3,000 13,000 1,85,000
8 3,000 12,000 1,85,000
9 3,000 11,000
10 3,000 10,000
Year Discounting
factors
Project A Project B Project C Project D
0 1 -20000.00 -600000.00 -150000.00
1 0.870 0.00 0.00 0.00
2 0.756 0.00 0.00 0.00
3 0.658 0.00 0.00 0.00
4 0.572 0.00 0.00 0.00
5 0.497 0.00 0.00 0.00

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6 0.432 0.00 0.00 0.00
7 0.376 0.00 0.00 0.00
8 0.327 0.00 0.00 0.00
9 0.284 0.00 0.00 0.00
10 0.247 0.00 0.00
NPV -20000.00 -600000.00 -150000.00
Whether to accept
the project or not? NO YES NO YES

Financial Problems Analysis
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Question 8
PVF Alph
a
cum.value
s
PV of
cash
flows
Beta cum.value
s
PV of
cash
flows
Gamm
a
cum.value
s
PV of
cash
flows
$1.0
0
$ -
1.50
$
1.50
$ -
1.50
$ -
0.40
$ -
0.40
$ -
0.40
$ -
7.50
$ -
7.50
$ -
7.50
$0.8
7
$
0.30
$
0.30
$
0.26
$
0.10
$
0.10
$
0.09
$
2.00
$
2.00
$
1.74
$0.7
6
$
0.50
$
0.80
$
0.38
$
0.20
$
0.30
$
0.15
$
3.00
$
5.00
$
2.27
$0.6
6
$
0.50
$
1.30
$
0.33
$
0.20
$
0.50
$
0.13
$
2.00
$
7.00
$
1.32
$0.5
7
$
0.40
$
1.70
$
0.23
$
0.10
$
0.60
$
0.06
$
1.50
$
8.50
$
0.86
$0.5
0
$
0.30
$
2.00
$
0.15
$
0.20
$
0.80
$
0.10
$
5.50
$
14.00
$
2.73
$ -
0.15
$
0.13
$
1.42
a) Payback Period = 3+ 0.20 3.5 years
(Alpha) 0.40
Payback Period = 2+ 0.10 2.5 years
(Beta) 0.2

Financial Problems Analysis
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Payback Period = 3+ 0.50
3.33
years
(Gamma) 1.50
b) If the cut off Payback period is 3 then the project Beta will be accepted.
If the cut off Payback period is 4 then any of the three will be accpeted keeping in mind the
other factors
(Horne & Wachowicz, 2008)
c) Shortest Payback period is of Project Beta so the company will select it.
d)
Project Gamma will be accepted at 15 % discounting rate and cut off period of 4 years as it is giving
positive NPV.
e)
As the NPV of Project Beta is very low the company may
reject it but
If payback analysis is done it can be accepted by the company as it has lowest
payback period.
f) As the NPV of Project Gamma is higher than the other two projects it can certainly be accepted
However if payback analysis is done it can be rejected by the company as it has higher payback
period.

Financial Problems Analysis
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Question 9
• Quick Ratio: This ratio indicates the how quickly and smoothly a company can pay off its current
liabilities using the cash or near cash items such as marketable securities and receivables of accounts.
• Cash Ratio: This ratio measures how well a company can meet its short term debt using only cash
and /or cash equivalents.
• Capital Intensity Ratio: This ratio determines the how much of capital is needed by a firm to produce
1$ of revenue. (Healy & Palepu, 2012)
• Total Asset Turnover Ratio: This ratio is used to measure the firm's efficiency to generate the revenue
from sale using its assets.
• Equity Multiplier: It is used to measure that how much proportion of total assets is financed by using
the funds of the shareholders of the company. This ratio is a financial leverage ratio. It indicates higher
the ratio higher the portion of assets financed by the shareholder’s funds.
• Long term Debt Ratio: This ratio measures the percentage of firm’s assets that are financed using the
financial debts including bank loan of more than one than one months.
• Times Interest Earned Ratio: This ratio indicates how capable a company is to pay out its interest
obligations with the earnings that are available with the company (Brigham & Ehrhardt, 2013).
• Profit Margin: As it is a profitability ratio, it indicates the percentage of earnings available with the
company after payment of all the costs such as depreciation on assets, interests, taxes. In other words it
measures how much income (net) is earned with per dollar of revenue from sales. This is done by
making the comparison of net income and the net sales. (Drake & Fabozzi 2010).
• Return on Assets: It belongs to financial ratios category as it calculates the profit percentage which is
earned by the company from its overall assets. It indicates the how profitable a firm is in relation to its
total assets.
• Return on Equity: It calculates how many dollars of profit are generated by the company using each
dollar of shareholder's equity. It measures the capability of a company to earn profits from the
investments made by shareholders in the company.
• Price Earnings Ratio: This ratio helps in determination of what value the market is willing to pay for
the earnings of the company. This ratio is used in the valuation of the company.

Financial Problems Analysis
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Question
10
Name of Company
Amount
Invested
Bet
a
Weight
s
Weighted
Average Beta
Fire 2 0.85 0.2 0.17
Water 3 1.25 0.3 0.375
Air 5 1.6 0.5 0.8
Total 10 1 1.345
CAPM MODEL
Ke= Rf +beta(Rm-Rf)
a
)
Individual Returns of
Company in %
Fire 4+.85 (12-4)
10.8
Water 4+1.25 (12-4)
14
Ice 4+1.6 (12-4)
16.8
b
)
Overall Return from
Portfolio 4+1.345 (12-4)
= Rf-Rm

Financial Problems Analysis
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8
10.76
= 14.76
c)
Overall Beta of
Portfolio 1.345
d
) Name of Company
Amount
Invested
Bet
a
Weight
s
Weighted
Average Beta
Fire 0 0.85 0 0
Water 4 1.25 0.4 0.5
Air 6 1.6 0.6 0.96
Total 10 1 1.46
e
) Fire 4+0(12-4)
4
Water 4+.50(12-4)
8
Ice 4+.96 (12-4)
11.68
Overall Return from
Portfolio 15.68
f)
The overall return as well as beta of the company has increased due
to change in proportion of investment amount in the three companies.

Financial Problems Analysis
22
The investor's risk has increased but he is ready to bear that as a result of
increased return with the same amount of investment but using diversified proportions.
As the return in the water and ice company was higher than the return of fire company,
the investor has enhanced the proportion of his invested funds in these
Companies and abandoned the investment in Fire company.

Financial Problems Analysis
23
References
Benninga, S. (2010). Principles of finance with excel. OUP Catalogue.
Brigham, E. F., & Ehrhardt, M. C. (2013). Financial management: Theory & practice. Cengage Learning.
David, F. R. (2011). Strategic management: Concepts and cases. Peaeson/Prentice Hall.
Drake, P. P., & Fabozzi, F. J. (2010). Financial ratio analysis. Handbook of Finance.
Healy, P. M., & Palepu, K. G. (2012). Business analysis valuation: Using financial statements. Cengage
Learning.
Smith, D. J. (2011). Zero Coupon Bonds.‐ Bond Math: The Theory behind the Formulas, 23-38.
Higgins, R. C. (2012). Analysis for financial management. McGraw-Hill/Irwin.

Financial Problems Analysis
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Appendices
Appendix-1
Loan Repayment Schedule when Monthly Payments are made under Original Scheme @ 8%
Periods PVF Opening Balance Instalments Interest Closing Balance
1 0.993 2000000.00 24265.22 13333.33 1989068.11
2 0.987 1989068.11 24265.22 13260.45 1978063.35
3 0.980 1978063.35 24265.22 13187.09 1966985.22
4 0.974 1966985.22 24265.22 13113.23 1955833.23
5 0.967 1955833.23 24265.22 13038.89 1944606.90
6 0.961 1944606.90 24265.22 12964.05 1933305.73
7 0.955 1933305.73 24265.22 12888.70 1921929.21
8 0.948 1921929.21 24265.22 12812.86 1910476.85
9 0.942 1910476.85 24265.22 12736.51 1898948.14
10 0.936 1898948.14 24265.22 12659.65 1887342.58
11 0.930 1887342.58 24265.22 12582.28 1875659.64
12 0.923 1875659.64 24265.22 12504.40 1863898.82
13 0.917 1863898.82 24265.22 12425.99 1852059.59
14 0.911 1852059.59 24265.22 12347.06 1840141.44
15 0.905 1840141.44 24265.22 12267.61 1828143.83
16 0.899 1828143.83 24265.22 12187.63 1816066.23
17 0.893 1816066.23 24265.22 12107.11 1803908.12
18 0.887 1803908.12 24265.22 12026.05 1791668.95
19 0.881 1791668.95 24265.22 11944.46 1779348.19
20 0.876 1779348.19 24265.22 11862.32 1766945.29
21 0.870 1766945.29 24265.22 11779.64 1754459.71
22 0.864 1754459.71 24265.22 11696.40 1741890.89
23 0.858 1741890.89 24265.22 11612.61 1729238.27
24 0.853 1729238.27 24265.22 11528.26 1716501.31
25 0.847 1716501.31 24265.22 11443.34 1703679.43
26 0.841 1703679.43 24265.22 11357.86 1690772.07
27 0.836 1690772.07 24265.22 11271.81 1677778.67
28 0.830 1677778.67 24265.22 11185.19 1664698.64
29 0.825 1664698.64 24265.22 11097.99 1651531.41

Financial Problems Analysis
25
30 0.819 1651531.41 24265.22 11010.21 1638276.40
31 0.814 1638276.40 24265.22 10921.84 1624933.02
32 0.808 1624933.02 24265.22 10832.89 1611500.69
33 0.803 1611500.69 24265.22 10743.34 1597978.81
34 0.798 1597978.81 24265.22 10653.19 1584366.78
35 0.793 1584366.78 24265.22 10562.45 1570664.00
36 0.787 1570664.00 24265.22 10471.09 1556869.88
37 0.782 1556869.88 24265.22 10379.13 1542983.79
38 0.777 1542983.79 24265.22 10286.56 1529005.13
39 0.772 1529005.13 24265.22 10193.37 1514933.28
40 0.767 1514933.28 24265.22 10099.56 1500767.61
41 0.762 1500767.61 24265.22 10005.12 1486507.51
42 0.756 1486507.51 24265.22 9910.05 1472152.34
43 0.751 1472152.34 24265.22 9814.35 1457701.47
44 0.746 1457701.47 24265.22 9718.01 1443154.26
45 0.742 1443154.26 24265.22 9621.03 1428510.07
46 0.737 1428510.07 24265.22 9523.40 1413768.25
47 0.732 1413768.25 24265.22 9425.12 1398928.15
48 0.727 1398928.15 24265.22 9326.19 1383989.11
49 0.722 1383989.11 24265.22 9226.59 1368950.49
50 0.717 1368950.49 24265.22 9126.34 1353811.61
51 0.713 1353811.61 24265.22 9025.41 1338571.80
52 0.708 1338571.80 24265.22 8923.81 1323230.39
53 0.703 1323230.39 24265.22 8821.54 1307786.70
54 0.699 1307786.70 24265.22 8718.58 1292240.06
55 0.694 1292240.06 24265.22 8614.93 1276589.78
56 0.689 1276589.78 24265.22 8510.60 1260835.15
57 0.685 1260835.15 24265.22 8405.57 1244975.50
58 0.680 1244975.50 24265.22 8299.84 1229010.12
59 0.676 1229010.12 24265.22 8193.40 1212938.30
60 0.671 1212938.30 24265.22 8086.26 1196759.33
61 0.667 1196759.33 24265.22 7978.40 1180472.51
62 0.662 1180472.51 24265.22 7869.82 1164077.11

Financial Problems Analysis
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63 0.658 1164077.11 24265.22 7760.51 1147572.40
64 0.654 1147572.40 24265.22 7650.48 1130957.66
65 0.649 1130957.66 24265.22 7539.72 1114232.16
66 0.645 1114232.16 24265.22 7428.21 1097395.16
67 0.641 1097395.16 24265.22 7315.97 1080445.90
68 0.636 1080445.90 24265.22 7202.97 1063383.66
69 0.632 1063383.66 24265.22 7089.22 1046207.66
70 0.628 1046207.66 24265.22 6974.72 1028917.16
71 0.624 1028917.16 24265.22 6859.45 1011511.39
72 0.620 1011511.39 24265.22 6743.41 993989.58
73 0.616 993989.58 24265.22 6626.60 976350.95
74 0.612 976350.95 24265.22 6509.01 958594.74
75 0.608 958594.74 24265.22 6390.63 940720.15
76 0.604 940720.15 24265.22 6271.47 922726.40
77 0.600 922726.40 24265.22 6151.51 904612.69
78 0.596 904612.69 24265.22 6030.75 886378.22
79 0.592 886378.22 24265.22 5909.19 868022.19
80 0.588 868022.19 24265.22 5786.81 849543.78
81 0.584 849543.78 24265.22 5663.63 830942.19
82 0.580 830942.19 24265.22 5539.61 812216.58
83 0.576 812216.58 24265.22 5414.78 793366.14
84 0.572 793366.14 24265.22 5289.11 774390.03
85 0.568 774390.03 24265.22 5162.60 755287.41
86 0.565 755287.41 24265.22 5035.25 736057.44
87 0.561 736057.44 24265.22 4907.05 716699.27
88 0.557 716699.27 24265.22 4778.00 697212.04
89 0.554 697212.04 24265.22 4648.08 677594.90
90 0.550 677594.90 24265.22 4517.30 657846.98
91 0.546 657846.98 24265.22 4385.65 637967.41
92 0.543 637967.41 24265.22 4253.12 617955.30
93 0.539 617955.30 24265.22 4119.70 597809.78
94 0.535 597809.78 24265.22 3985.40 577529.96
95 0.532 577529.96 24265.22 3850.20 557114.94
96 0.528 557114.94 24265.22 3714.10 536563.82

Financial Problems Analysis
27
97 0.525 536563.82 24265.22 3577.09 515875.69
98 0.521 515875.69 24265.22 3439.17 495049.65
99 0.518 495049.65 24265.22 3300.33 474084.76
100 0.515 474084.76 24265.22 3160.57 452980.10
101 0.511 452980.10 24265.22 3019.87 431734.75
102 0.508 431734.75 24265.22 2878.23 410347.76
103 0.504 410347.76 24265.22 2735.65 388818.19
104 0.501 388818.19 24265.22 2592.12 367145.09
105 0.498 367145.09 24265.22 2447.63 345327.51
106 0.494 345327.51 24265.22 2302.18 323364.47
107 0.491 323364.47 24265.22 2155.76 301255.01
108 0.488 301255.01 24265.22 2008.37 278998.16
109 0.485 278998.16 24265.22 1859.99 256592.93
110 0.481 256592.93 24265.22 1710.62 234038.33
111 0.478 234038.33 24265.22 1560.26 211333.36
112 0.475 211333.36 24265.22 1408.89 188477.03
113 0.472 188477.03 24265.22 1256.51 165468.33
114 0.469 165468.33 24265.22 1103.12 142306.23
115 0.466 142306.23 24265.22 948.71 118989.72
116 0.463 118989.72 24265.22 793.26 95517.76
117 0.460 95517.76 24265.22 636.79 71889.33
118 0.457 71889.33 24265.22 479.26 48103.37
119 0.454 48103.37 24265.22 320.69 24158.84
120 0.451 24158.84 24265.22 161.06 54.68
Appendix 2
Loan Repayment Schedule when Monthly Payments are made under Refinancing Scheme @ 7%

Financial Problems Analysis
28
Loan
$15,56,869.8
8
Rate 0.5833%
Terms Monthly
Number of
Months 84
Instalments
$
23,497.34
Periods PVF
Opening
Balance Instalments
1 0.994 1556869.88 23497.34
2 0.988 1542454.28 23497.34
3 0.983 1527954.59 23497.34
4 0.977 1513370.32 23497.34
5 0.971 1498700.97 23497.34
6 0.966 1483946.06 23497.34
7 0.960 1469105.07 23497.34
8 0.955 1454177.51 23497.34
9 0.949 1439162.88 23497.34
10 0.943 1424060.65 23497.34
11 0.938 1408870.33 23497.34
12 0.933 1393591.41 23497.34
13 0.927 1378223.35 23497.34
14 0.922 1362765.65 23497.34
15 0.916 1347217.78 23497.34
16 0.911 1331579.21 23497.34
17 0.906 1315849.41 23497.34
18 0.901 1300027.86 23497.34
19 0.895 1284114.02 23497.34
20 0.890 1268107.35 23497.34
21 0.885 1252007.30 23497.34
22 0.880 1235813.34 23497.34
23 0.875 1219524.91 23497.34
24 0.870 1203141.47 23497.34
25 0.865 1186662.45 23497.34
26 0.860 1170087.31 23497.34
27 0.855 1153415.48 23497.34
28 0.850 1136646.40 23497.34
29 0.845 1119779.50 23497.34
30 0.840 1102814.21 23497.34
31 0.835 1085749.95 23497.34
32 0.830 1068586.15 23497.34
33 0.825 1051322.23 23497.34
34 0.821 1033957.61 23497.34

Financial Problems Analysis
29
35 0.816 1016491.69 23497.34
36 0.811 998923.88 23497.34
37 0.806 981253.60 23497.34
38 0.802 963480.24 23497.34
39 0.797 945603.20 23497.34
40 0.792 927621.88 23497.34
41 0.788 909535.67 23497.34
42 0.783 891343.96 23497.34
43 0.779 873046.13 23497.34
44 0.774 854641.56 23497.34
45 0.770 836129.63 23497.34
46 0.765 817509.71 23497.34
47 0.761 798781.18 23497.34
48 0.756 779943.40 23497.34
49 0.752 760995.73 23497.34
50 0.748 741937.53 23497.34
51 0.743 722768.16 23497.34
52 0.739 703486.97 23497.34
53 0.735 684093.31 23497.34
54 0.730 664586.51 23497.34
55 0.726 644965.93 23497.34
56 0.722 625230.89 23497.34
57 0.718 605380.73 23497.34
58 0.714 585414.78 23497.34
59 0.710 565332.36 23497.34
60 0.705 545132.79 23497.34
61 0.701 524815.40 23497.34
62 0.697 504379.48 23497.34
63 0.693 483824.35 23497.34
64 0.689 463149.32 23497.34
65 0.685 442353.69 23497.34
66 0.681 421436.75 23497.34
67 0.677 400397.79 23497.34
68 0.673 379236.11 23497.34
69 0.669 357950.98 23497.34
70 0.666 336541.69 23497.34
71 0.662 315007.51 23497.34
72 0.658 293347.71 23497.34
73 0.654 271561.57 23497.34
74 0.650 249648.34 23497.34
75 0.646 227607.28 23497.34
76 0.643 205437.65 23497.34
77 0.639 183138.70 23497.34
78 0.635 160709.67 23497.34
79 0.632 138149.80 23497.34
80 0.628 115458.34 23497.34