Period Cash Flows Cumulative Cash Flows PVIF@8.75% Discounted Cash Flows Cumulative Discounted Cash Flows
0 (15,000,000.00)$ (15,000,000.00)$ 1.0000 (15,000,000.00)$ (15,000,000.00)$
1 1,500,000.00$ (13,500,000.00)$ 0.9195 1,379,310.34$ (13,620,689.66)$
2 1,530,000.00$ (11,970,000.00)$ 0.8456 1,293,697.98$ (12,326,991.68)$
17 2,252,324.84$ 11,293,148.26$ 0.2403 541,169.75$ (2,018,347.48)$
18 2,297,371.34$ 13,590,519.60$ 0.2209 507,579.90$ (1,510,767.58)$
19 2,343,318.76$ 15,933,838.36$ 0.2032 476,074.94$ (1,034,692.64)$
20 (3,609,814.86)$ 12,324,023.50$ 0.1868 (674,372.13)$ (1,709,064.77)$
21 2,500,000.00$ 14,824,023.50$ 0.1718 429,462.68$ (1,279,602.09)$
Payback Period = 11.77
Project X Payback and Discounted Payback Analysis
Period Cash Flows
0 (15,000,000.00)$ NPV= $1,564,532.00
1 1,500,000.00$ IRR= 9.8%
2 1,530,000.00$ MIRR= 9.1%
3 1,560,600.00$
4 1,591,812.00$
5 1,623,648.24$
6 1,656,121.20$
7 1,689,243.63$
8 1,723,028.50$
9 1,757,489.07$
10 (3,207,361.15)$
11 2,000,000.00$
12 2,040,000.00$
13 2,080,800.00$
14 2,122,416.00$
15 2,164,864.32$
16 2,208,161.61$
17 2,252,324.84$
18 2,297,371.34$
19 2,343,318.76$
20 (3,609,814.86)$
21 2,500,000.00$
22 2,550,000.00$
23 2,601,000.00$
24 2,653,020.00$
25 2,706,080.40$
26 2,760,202.01$
27 2,815,406.05$
28 2,871,714.17$
29 2,929,148.45$
30 2,987,731.42$
Project X
NPV, IRR, MIRR