fa report test sens

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Product Year 1 Year 2 Year 3 Year 4 Year 5 Zest Cola 240,000,00 0 304,000,00 0 800,000,00 0 1,360,000, 000 2,160,000,00 0 Zest White 180,000,00 0 228,000,00 0 600,000,00 0 1,020,000, 000 1,620,000,00 0 Zest Orange 180,000,00 0 228,000,00 0 600,000,00 0 1,020,000, 000 1,620,000,00 0 Zest Appachino 180,000,00 0 228,000,00 0 600,000,00 0 1,020,000, 000 1,620,000,00 0 Zest Lem 120,000,00 0 152,000,00 0 400,000,00 0 680,000,00 0 1,080,000,00 0 Zest Ice 180,000,00 0 228,000,00 0 600,000,00 0 1,020,000, 000 1,620,000,00 0 Zest Fruitpunch 120,000,00 0 152,000,00 0 400,000,00 0 680,000,00 0 1,080,000,00 0 Zest Minwa 100,000,00 0 104,000,00 0 340,000,00 0 440,000,00 0 800,000,000 Zest Voltage 13,600,000 18,400,000 40,000,000 60,000,000 80,000,000

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Sensitivity Analysis of the Project

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Page 1: Fa Report Test Sens

Product Year 1 Year 2 Year 3 Year 4 Year 5Zest Cola 240,000,000 304,000,000 800,000,000 1,360,000,000 2,160,000,000

Zest White 180,000,000 228,000,000 600,000,000 1,020,000,000 1,620,000,000

Zest Orange 180,000,000 228,000,000 600,000,000 1,020,000,000 1,620,000,000

Zest Appachino 180,000,000 228,000,000 600,000,000 1,020,000,000 1,620,000,000

Zest Lem 120,000,000 152,000,000 400,000,000 680,000,000 1,080,000,000

Zest Ice 180,000,000 228,000,000 600,000,000 1,020,000,000 1,620,000,000

Zest Fruitpunch 120,000,000 152,000,000 400,000,000 680,000,000 1,080,000,000

Zest Minwa 100,000,000 104,000,000 340,000,000 440,000,000 800,000,000

Zest Voltage 13,600,000 18,400,000 40,000,000 60,000,000 80,000,000

TOTAL 1,313,600,000 1,642,400,000 4,380,000,000 7,300,000,000 11,680,000,000

Decrease in Sales Volume (20%)Individual Revenue Generation

Page 2: Fa Report Test Sens

Individual Production in Units (Bottles)

Product Year 1 Year 2 Year 3 Year 4 Year 5Zest Cola 9,600,000 12,160,000 32,000,000 54,400,000 86,400,000

Zest White 7,200,000 9,120,000 24,000,000 40,800,000 64,800,000

Zest Orange 7,200,000 9,120,000 24,000,000 40,800,000 64,800,000

Zest Appachino 7,200,000 9,120,000 24,000,000 40,800,000 64,800,000

Zest Lem 4,800,000 6,080,000 16,000,000 27,200,000 43,200,000

Zest Ice 7,200,000 9,120,000 24,000,000 40,800,000 64,800,000

Zest Fruitpunch

4,800,000 6,080,000 16,000,000 27,200,000 43,200,000

Zest Minwa 3,921,569 4,078,431 13,333,334 17,254,902 31,372,549

Zest Voltage 151,111 204,445 444,445 666,666 888,889

TOTAL 52,072,680 65,082,876 173,777,778 289,921,568 464,261,438

Page 3: Fa Report Test Sens

Individual Cost of SellingYear 1

Cost Zest Cola Zest WhiteZest

OrangeZest

AppachinoZest Lem Zest Ice

Zest Fruitpunch

Zest MinwaZest

Voltage

Total Raw Material

Cost*197,516,800 148,137,600 148,137,600 148,137,600 98,758,400 148,137,600 98,758,400 102,117,647 16,659,200

Total Labour Cost**

1,412,000 1,412,000 1,412,000 1,412,000 1,412,000 1,412,000 1,412,000 1,412,000 1,412,000

Factory Overheads***

2,434,150 2,434,150 2,434,150 2,434,150 2,434,150 2,434,150 2,434,150 2,783,000 2,434,150

Cost of Goods Manufactured

202,498,838 153,119,638 153,119,638 153,119,638 103,740,438 153,119,638 103,740,438 107,448,535 21,641,238

Finished Goods

(Opening)30,862,000 15,431,000 15,431,000 15,431,000 30,862,000 15,431,000 30,862,000 21,274,510 5,553,067

Finished Goods

(Ending)(43,206,800) (15,431,000) (15,431,000) (15,431,000) (37,034,400) (24,689,600) (37,034,400) (38,294,118) (10,412,000)

Total Cost of Goods Sold

190,154,038 153,119,638 153,119,638 153,119,638 97,568,038 143,861,038 97,568,038 90,428,927 16,782,305

Page 4: Fa Report Test Sens

Individual Cost of Selling

Year 2Cost Zest Cola Zest White Zest

OrangeZest

AppachinoZest Lem Zest Ice Zest

FruitpunchZest Minwa Zest

Voltage

Total Raw Material

Cost*172,827,200 123,448,000 123,448,000 123,448,000 98,758,400 123,448,000 98,758,400 102,117,647 13,882,666

Total Labour Cost** 1,412,000 1,412,000 1,412,000 1,412,000 1,412,000 1,412,000 1,412,000 1,412,000 1,412,000

Factory Overheads*** 2,511,000 2,511,000 2,511,000 2,511,000 2,511,000 2,511,000 2,511,000 2,543,000 2,511,000

Cost of Goods Manufactured 176,750,200 127,371,000 127,371,000 127,371,000 102,681,400 127,371,000 102,681,400 106,072,647 17,805,666

Finished Goods

(Opening)0 0 0 0 0 0 0 0 0

Finished Goods

(Ending)(30,862,000) (15,431,000) (15,431,000) (15,431,000) (30,862,000) (15,431,000) (30,862,000) (21,274,510) (5,553,067)

Total Cost of Goods Sold 145,888,200 111,940,000 111,940,000 111,940,000 71,819,400 111,940,000 71,819,400 84,798,137 12,252,599

Page 5: Fa Report Test Sens

Individual Cost of Selling

Year 3

Cost Zest Cola Zest White Zest Orange

Zest Appachino

Zest Lem Zest Ice Zest Fruitpunch

Zest Minwa Zest Voltage

Total Raw Material

Cost*469,102,400 360,468,160 360,468,160 360,468,160 271,585,600 360,468,160 271,585,600 272,313,726 22,212,266

Total Labour Cost** 1,412,000 1,412,000 1,412,000 1,412,000 1,412,000 1,412,000 1,412,000 1,412,000 1,412,000

Factory Overheads*** 2,372,670 2,372,670 2,372,670 2,372,670 2,372,670 2,372,670 2,372,670 2,735,000 2,372,670

Cost of Goods Manufactured 474,022,958 365,388,718 365,388,718 365,388,718 276,506,158 365,388,718 276,506,158 277,596,614 27,132,824

Finished Goods

(Opening)30,862,000 15,431,000 15,431,000 15,431,000 37,034,400 24,689,600 37,034,400 38,294,118 10,412,000

Finished Goods

(Ending)(43,206,800) (3,086,200) (3,086,200) (3,086,200) (6,172,400) (3,086,200) (6,172,400) (1,234,480) (3,470,667)

Total Cost of Goods Sold 461,678,158 377,733,518 377,733,518 377,733,518 307,368,158 386,992,118 307,368,158 314,656,252 34,074,157

Page 6: Fa Report Test Sens

Individual Cost of Selling

Year 4Cost Zest Cola Zest White Zest Orange Zest

AppachinoZest Lem Zest Ice Zest

FruitpunchZest Minwa Zest

Voltage

Total Raw Material

Cost*864,136,000 617,240,000 617,240,000 617,240,000 444,412,800 617,240,000 444,412,800 391,450,980 41,648,000

Total Labour Cost** 1,412,000 1,412,000 1,412,000 1,412,000 1,412,000 1,412,000 1,412,000 1,412,000 1,412,000

Factory Overheads*** 2,323,491 2,323,491 2,323,491 2,323,491 2,323,491 2,323,491 2,323,491 2,696,000 2,323,491

Cost of Goods Manufactured 869,007,379 622,111,379 622,111,379 622,111,379 449,284,179 622,111,379 449,284,179 396,694,868 46,519,379

Finished Goods

(Opening)12,344,800 3,086,200 3,086,200 3,086,200 6,172,400 3,086,200 6,172,400 1,234,480 3,470,667

Finished Goods

(Ending)(43,206,800) (1,543,100) (1,543,100) (1,543,100) (37,034,400) (1,543,100) (37,034,400) (3,394,820) (20,824,000)

Total Cost of Goods Sold 838,145,379 623,654,479 623,654,479 623,654,479 418,422,179 623,654,479 418,422,179 394,534,528 29,166,046

Page 7: Fa Report Test Sens

Individual Cost of Selling

Year 5

Cost Zest Cola Zest White Zest Orange Zest Appachino

Zest Lem Zest Ice Zest Fruitpunch

Zest Minwa Zest Voltage

Total Raw Material

Cost*1,357,928,000 987,584,000 987,584,000 987,584,000 641,929,600 987,584,000 641,929,600 646,745,098 49,977,600

Total Labour Cost** 1,412,000 1,412,000 1,412,000 1,412,000 1,412,000 1,412,000 1,412,000 1,412,000 1,412,000

Factory Overheads**

*2,323,491 2,323,491 2,323,491 2,323,491 2,323,491 2,323,491 2,323,491 2,696,000 2,323,491

Cost of Goods

Manufactured

1,362,799,379 992,455,379 992,455,379 992,455,379 646,800,979 992,455,379 646,800,979 651,988,986 54,848,979

Finished Goods

(Opening)43,206,800 1,543,100 1,543,100 1,543,100 37,034,400 1,543,100 37,034,400 3,394,820 20,824,000

Finished Goods

(Ending)(74,068,800) 0 0 0 (6,172,400) 0 (6,172,400) (308,620) (13,882,667)

Page 8: Fa Report Test Sens

Total Cost of Goods Sold 1,331,937,379 993,998,479 993,998,479 993,998,479 677,662,979 993,998,479 677,662,979 655,075,186 61,790,312

Page 9: Fa Report Test Sens

Increase in Cost of Labour (25%)Individual Cost of Selling

Year 1

Cost Zest Cola Zest WhiteZest

OrangeZest

AppachinoZest Lem Zest Ice

Zest Fruitpunch

Zest MinwaZest

Voltage

Total Raw Material

Cost*216,034,000 154,310,000 154,310,000 154,310,000 123,448,000 154,310,000 123,448,000 127,647,059 17,353,333

Total Labour Cost**

1,765,000 1,765,000 1,765,000 1,765,000 1,765,000 1,765,000 1,765,000 1,765,000 1,765,000

Factory Overheads***

2,511,000 2,511,000 2,511,000 2,511,000 2,511,000 2,511,000 2,511,000 2,543,000 2,511,000

Cost of Goods Manufactured

220,310,000 158,586,000 158,586,000 158,586,000 127,724,000 158,586,000 127,724,000 131,955,059 21,629,333

Finished Goods

(Opening)0 0 0 0 0 0 0 0 0

Finished Goods

(Ending)(30,862,000) (15,431,000) (15,431,000) (15,431,000) (30,862,000) (15,431,000) (30,862,000) (21,274,510) (5,553,067)

Total Cost of Goods Sold

189,448,000 143,155,000 143,155,000 143,155,000 96,862,000 143,155,000 96,862,000 110,680,549 16,076,266

Page 10: Fa Report Test Sens

Individual Cost of Selling

Year 2Cost Zest Cola Zest White Zest

OrangeZest

AppachinoZest Lem Zest Ice Zest

FruitpunchZest Minwa Zest

Voltage

Total Raw Material

Cost*246,896,000 185,172,000 185,172,000 185,172,000 123,448,000 185,172,000 123,448,000 127,647,059 20,824,000

Total Labour Cost** 1,765,000 1,765,000 1,765,000 1,765,000 1,765,000 1,765,000 1,765,000 1,765,000 1,765,000

Factory Overheads*** 2,434,150 2,434,150 2,434,150 2,434,150 2,434,150 2,434,150 2,434,150 2,783,000 2,434,150

Cost of Goods Manufactured 251,095,150 189,371,150 189,371,150 189,371,150 127,647,150 189,371,150 127,647,150 132,195,059 25,023,150

Finished Goods

(Opening)30,862,000 15,431,000 15,431,000 15,431,000 30,862,000 15,431,000 30,862,000 21,274,510 5,553,067

Finished Goods

(Ending)(43,206,800) (15,431,000) (15,431,000) (15,431,000) (37,034,400) (24,689,600) (37,034,400) (38,294,118) (10,412,000)

Total Cost of Goods Sold 238,750,350 189,371,150 189,371,150 189,371,150 121,474,750 180,112,550 121,474,750 115,175,451 20,164,217

Page 11: Fa Report Test Sens

Individual Cost of Selling

Year 3

Cost Zest Cola Zest White Zest Orange

Zest Appachino

Zest Lem Zest Ice Zest Fruitpunch

Zest Minwa

Zest Voltage

Total Raw Material

Cost*586,378,000 450,585,200 450,585,200 450,585,200 339,482,000 450,585,200 339,482,000 340,392,157 27,765,333

Total Labour Cost** 1,765,000 1,765,000 1,765,000 1,765,000 1,765,000 1,765,000 1,765,000 1,765,000 1,765,000

Factory Overheads*** 2,372,670 2,372,670 2,372,670 2,372,670 2,372,670 2,372,670 2,372,670 2,735,000 2,372,670

Cost of Goods Manufactured 590,515,670 454,722,870 454,722,870 454,722,870 343,619,670 454,722,870 343,619,670 344,892,157 31,903,003

Finished Goods

(Opening)30,862,000 15,431,000 15,431,000 15,431,000 37,034,400 24,689,600 37,034,400 38,294,118 10,412,000

Finished Goods

(Ending)(43,206,800) (3,086,200) (3,086,200) (3,086,200) (6,172,400) (3,086,200) (6,172,400) (1,234,480) (3,470,667)

Total Cost of Goods Sold 578,170,870 467,067,670 467,067,670 467,067,670 374,481,670 476,326,270 374,481,670 381,951,795 38,844,336

Page 12: Fa Report Test Sens

Individual Cost of Selling

Year 4Cost Zest Cola Zest White Zest Orange Zest

AppachinoZest Lem Zest Ice Zest

FruitpunchZest

MinwaZest

Voltage

Total Raw Material

Cost*1,080,170,000 771,550,000 771,550,000 771,550,000 555,516,000 771,550,000 555,516,000 489,313,725 52,060,000

Total Labour Cost** 1,765,000 1,765,000 1,765,000 1,765,000 1,765,000 1,765,000 1,765,000 1,765,000 1,765,000

Factory Overheads*** 2,323,491 2,323,491 2,323,491 2,323,491 2,323,491 2,323,491 2,323,491 2,696,000 2,323,491

Cost of Goods Manufactured 1,084,258,491 775,638,491 775,638,491 775,638,491 559,604,491 775,638,491 559,604,491 493,774,725 56,148,491

Finished Goods

(Opening)12,344,800 3,086,200 3,086,200 3,086,200 6,172,400 3,086,200 6,172,400 1,234,480 3,470,667

Finished Goods

(Ending)(43,206,800) (1,543,100) (1,543,100) (1,543,100) (37,034,400) (1,543,100) (37,034,400) (3,394,820) (20,824,000)

Total Cost of Goods Sold 1,053,396,491 777,181,591 777,181,591 777,181,591 528,742,491 777,181,591 528,742,491 491,614,385 38,795,158

Page 13: Fa Report Test Sens

Individual Cost of Selling

Year 5

Cost Zest Cola Zest White Zest Orange Zest Appachino

Zest Lem Zest Ice Zest Fruitpunch

Zest Minwa Zest Voltage

Total Raw Material

Cost*1,697,410,000 1,234,480,000 1,234,480,000 1,234,480,000 802,412,000 1,234,480,000 802,412,000 808,431,373 62,472,000

Total Labour Cost** 1,765,000 1,765,000 1,765,000 1,765,000 1,765,000 1,765,000 1,765,000 1,765,000 1,765,000

Factory Overheads**

*2,323,491 2,323,491 2,323,491 2,323,491 2,323,491 2,323,491 2,323,491 2,696,000 2,323,491

Cost of Goods

Manufactured

1,701,498,491 1,238,568,491 1,238,568,491 1,238,568,491 806,500,491 1,238,568,491 806,500,491 812,892,373 66,560,491

Finished Goods

(Opening)43,206,800 1,543,100 1,543,100 1,543,100 37,034,400 1,543,100 37,034,400 3,394,820 20,824,000

Finished Goods

(Ending)(74,068,800) 0 0 0 (6,172,400) 0 (6,172,400) (308,620) (13,882,667)

Page 14: Fa Report Test Sens

Total Cost of Goods Sold 1,670,636,491 1,240,111,591 1,240,111,591 1,240,111,591 837,362,491 1,240,111,591 837,362,491 815,978,573 73,501,824

Presented Value of Inflows

Year Cash Inflows PV Cash Inflows

1 345,196,305 277,061,372.32

2 424,125,652 273,221,093.77

3 1,292,817,698 668,446,750.92

4 2,426,952,215 1,007,164,932.42

5 4,320,297,180 1,439,006,762.48

Total   3,664,900,912   

Net Present Value = PV of Inflows - PV of Outflows

3,489,900,912

IRR = 175,000,000 =345,196,305

+424,125,652

+1,292,817,698

+2,426,952,215

+4,320,297,180

(1 + i) (1+i)2 (1+i)3 (1+i)4 (1+i)5

IRR = 263.16%

Page 15: Fa Report Test Sens
Page 16: Fa Report Test Sens

Pay Back Period  175,000,000  

0.51 345,196,305 (170,196,305)

  424,125,652 (594,321,957)

  1,292,817,698 (1,887,139,655)

  2,426,952,215 (4,314,091,870)

  4,320,297,180 (8,634,389,050)

Discounted Pay Back Period0.63 345,196,305 277,061,372.32 (102,061,372.32)

  424,125,652 273,221,093.77 (375,282,466.08)

  1,292,817,698 668,446,750.92 (1,043,729,217.00)

  2,426,952,215 1,007,164,932.42 (2,050,894,149.43)

  4,320,297,180 1,439,006,762.48 (3,489,900,911.91)

Pay Back Period                                (175,000,000) 345,196,305 424,125,652 1,292,817,698 2,426,952,215 4,320,297,180

= Years Before full Recovery + Unrecovered amount of Beginning of the YearCash Flow of the Year

= 0.507 Years

Discounted Pay Back Period                                (175,000,000) 277,061,372 273,221,094 668,446,751 1,007,164,932 1,439,006,762

= Years Before full Recovery + Unrecovered amount of Beginning of the YearCash Flow of the Year

Page 17: Fa Report Test Sens

= 0.632 Years

Page 18: Fa Report Test Sens

Presented Value of Inflows

Year Cash Inflows PV Cash Inflows

1 342,686,475 275,046,933.19

2 437,006,280 281,518,774.54

3 1,291,069,739 667,542,974.99

4 2,432,518,549 1,009,474,914.62

5 4,325,863,513 1,440,860,799.48

Total   3,674,444,397   

Net Present Value = PV of Inflows - PV of Outflows

3,499,444,397

IRR = 175,000,000 =342,686,475

+437,006,280

+1,291,069,739

+2,432,518,549

+4,325,863,513

(1 + i) (1+i)2 (1+i)3 (1+i)4 (1+i)5

IRR = 263.47%

Page 19: Fa Report Test Sens

Pay Back Period  175,000,000  

0.51 342,686,475 (167,686,475)

  437,006,280 (604,692,755)

  1,291,069,739 (1,895,762,494)

  2,432,518,549 (4,328,281,043)

  4,325,863,513 (8,654,144,556)

Discounted Pay Back Period0.64 342,686,475 275,046,933.19 (100,046,933.19)

  437,006,280 281,518,774.54 (381,565,707.73)

  1,291,069,739 667,542,974.99 (1,049,108,682.73)

  2,432,518,549 1,009,474,914.62 (2,058,583,597.35)

  4,325,863,513 1,440,860,799.48 (3,499,444,396.83)

Pay Back Period                                (175,000,000) 342,686,475 437,006,280 1,291,069,739 2,432,518,549 4,325,863,513

= Years Before full Recovery + Unrecovered amount of Beginning of the YearCash Flow of the Year

= 0.511 Years

Discounted Pay Back Period                                (175,000,000) 275,046,933 281,518,775 667,542,975 1,009,474,915 1,440,860,799

= Years Before full Recovery + Unrecovered amount of Beginning of the YearCash Flow of the Year

Page 20: Fa Report Test Sens

= 0.636 Years

Page 21: Fa Report Test Sens

Presented Value of Inflows

Year Cash Inflows PV Cash Inflows

1 377,403,119 302,911,197.35

2 492,979,728 317,576,783.80

3 1,455,223,777 752,418,231.20

4 2,741,216,811 1,137,582,119.31

5 4,824,734,690 1,607,025,062.59

Total   4,117,513,394   

Net Present Value = PV of Inflows - PV of Outflows

3,942,513,394

IRR = 175,000,000 =377,403,119

+492,979,728

+1,455,223,777

+2,741,216,811

+4,824,734,690

(1 + i) (1+i)2 (1+i)3 (1+i)4 (1+i)5

IRR = 284.96%

Page 22: Fa Report Test Sens

Pay Back Period  175,000,000  

0.46 377,403,119 (202,403,119)

  492,979,728 (695,382,847)

  1,455,223,777 (2,150,606,624)

  2,741,216,811 (4,891,823,435)

  4,824,734,690 (9,716,558,125)

Discounted Pay Back Period0.58 377,403,119 302,911,197.35 (127,911,197.35)

  492,979,728 317,576,783.80 (445,487,981.15)

  1,455,223,777 752,418,231.20 (1,197,906,212.35)

  2,741,216,811 1,137,582,119.31 (2,335,488,331.66)

  4,824,734,690 1,607,025,062.59 (3,942,513,394.25)

Pay Back Period                                (175,000,000) 377,403,119 492,979,728 1,455,223,777 2,741,216,811 4,824,734,690

= Years Before full Recovery + Unrecovered amount of Beginning of the YearCash Flow of the Year

= 0.464 Years

Discounted Pay Back Period                                (175,000,000) 302,911,197 317,576,784 752,418,231 1,137,582,119 1,607,025,063

= Years Before full Recovery + Unrecovered amount of Beginning of the YearCash Flow of the Year

Page 23: Fa Report Test Sens

= 0.578 Years

Page 24: Fa Report Test Sens

Pay Back Period  175,000,000  

0.51 342,686,475 (167,686,475)

  437,006,280 (604,692,755)

  1,291,069,739 (1,895,762,494)

  2,432,518,549 (4,328,281,043)

  4,325,863,513 (8,654,144,556)

Discounted Pay Back Period0.64 342,686,475 275,046,933.47 (100,046,933.47)

  437,006,280 281,518,774.54 (381,565,708.02)

  1,291,069,739 667,542,974.99 (1,049,108,683.01)

  2,432,518,549 1,009,474,914.62 (2,058,583,597.63)

  4,325,863,513 1,440,860,799.48 (3,499,444,397.11)

Pay Back Period                                (175,000,000) 342,686,475 437,006,280 1,291,069,739 2,432,518,549 4,325,863,513

= Years Before full Recovery + Unrecovered amount of Beginning of the YearCash Flow of the Year

= 0.511 Years

Discounted Pay Back Period                                (175,000,000) 275,046,933 281,518,775 667,542,975 1,009,474,915 1,440,860,799

= Years Before full Recovery + Unrecovered amount of Beginning of the YearCash Flow of the Year

Page 25: Fa Report Test Sens

= 0.636 Years

Presented Value of Inflows

Year Cash Inflows PV Cash Inflows

1 327,881,688 263,164,318.83

2 421,434,384 271,487,382.79

3 1,279,786,663 661,709,101.14

4 2,369,897,025 983,487,504.32

5 3,844,581,771 1,280,555,234.19

Total   3,460,403,541   

Net Present Value = PV of Inflows - PV of Outflows

3,285,403,541

IRR = 175,000,000 =327,881,688

+421,434,384

+1,279,786,663

+2,369,897,025

+3,844,581,771

(1 + i) (1+i)2 (1+i)3 (1+i)4 (1+i)5

IRR = 256.21%

Page 26: Fa Report Test Sens

Pay Back Period  175,000,000  

0.53 327,881,688 (152,881,688)

  421,434,384 (574,316,072)

  1,279,786,663 (1,854,102,735)

  2,369,897,025 (4,223,999,760)

  3,844,581,771 (8,068,581,531)

Discounted Pay Back Period0.66 327,881,688 263,164,318.83 (88,164,318.83)

  421,434,384 271,487,382.79 (359,651,701.63)

  1,279,786,663 661,709,101.14 (1,021,360,802.77)

  2,369,897,025 983,487,504.32 (2,004,848,307.09)

  3,844,581,771 1,280,555,234.19 (3,285,403,541.28)

Pay Back Period                                (175,000,000) 327,881,688 421,434,384 1,279,786,663 2,369,897,025 3,844,581,771

= Years Before full Recovery + Unrecovered amount of Beginning of the YearCash Flow of the Year

= 0.534 Years

Discounted Pay Back Period                                (175,000,000) 263,164,319 271,487,383 661,709,101 983,487,504 1,280,555,234

= Years Before full Recovery + Unrecovered amount of Beginning of the YearCash Flow of the Year

Page 27: Fa Report Test Sens

= 0.665 Years