978-1260153590 Chapter 9 Case Solutions

subject Type Homework Help
subject Pages 3
subject Words 112
subject Authors Bradford Jordan, Randolph Westerfield, Stephen Ross

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CHAPTER 9
BULLOCK GOLD MINING
1. An example spreadsheet is:
page-pf2
Note, there is no Excel function to directly calculate the payback period. We used “If” statements in
our spreadsheet. The IF statement we used is:
=IF(-D8>(D9+D10+D11+D12+D13+D14),"Greater than 6 years",IF(-
D8>(D9+D10+D11+D12+D13),(5+(-D8-D9-D10-D11-D12-D13)/D14),IF(-
2. Since the NPV of the mine is positive, the company should open the mine. We should note, it may be
3. There are many possible variations on the VBA code to calculate the payback period. Below is a
Function PAYBACK(invest, finflow)
Do
x = x - v
v = finflow.Cells(i).Value
ElseIf x < v Then
P = i - 1

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