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涓€銆佸柈闋�(xi脿ng)閬告搰椤�
1銆佸湪缍�(j墨ng)婵�(j矛)鏁堟灉瑭曞児鏂规硶涓紝鑰冩叜璩囬噾鏅傞枔鍍瑰€奸噰鐢�(銆€)閫�(j矛n)琛屽垎鏋�銆�
A銆佺⒑瀹氭€ц⿻鍍规柟娉�
B銆佷笉纰哄畾鎬ц⿻鍍规柟娉�
C銆侀潨鎱�(t脿i)瑭曞児鏂规硶
D銆佸嫊鎱�(t脿i)瑭曞児鏂规硶
2銆佸湪涓嬪垪鎶曡硣鏂规瑭曞児鎸囨(bi膩o)涓�锛屾噳(y墨ng)瑭茶€冩叜璩囬噾鐨勬檪闁撳児鍊肩殑鎸囨(bi膩o)鏄�(銆€)銆�
A銆佹姇璩囨敹鐩婄巼鍜屽噲鐝�(xi脿n)鍊�
B銆佹姇璩囨敹鐩婄巼鍜屾姇璩囧洖鏀舵湡
C銆佸噲骞村€煎拰鍏�(n猫i)閮ㄦ敹鐩婄巼
D銆佸噲鐝�(xi脿n)鍊煎拰鍒╂伅鍌欎粯鐜�
3銆佷笅鍒楅棞(gu膩n)浜庢姇璩囨敹鐩婄巼鐨勮⿻鍍规(bi膩o)婧�(zh菙n)鏁樿堪姝g⒑鐨勬槸(銆€)銆�
A銆佹姇璩囨敹鐩婄巼澶т簬鍩烘簴(zh菙n)鎶曡硣鏀剁泭鐜�锛屾柟妗堝湪缍�(j墨ng)婵�(j矛)涓婂彲琛�
B銆佹姇璩囨敹鐩婄巼绛変簬鍩烘簴(zh菙n)鎶曡硣鏀剁泭鐜�锛屾柟妗堝湪缍�(j墨ng)婵�(j矛)涓婁笉鍙
C銆佹姇璩囨敹鐩婄巼灏忎簬 1锛屾柟妗堝湪缍�(j墨ng)婵�(j矛)涓婁笉鍙
D銆佹姇璩囨敹鐩婄巼绛変簬 1锛屾柟妗堝湪缍�(j墨ng)婵�(j矛)涓婁笉鍙
4銆侀噰鐢ㄦ姇璩囨敹鐩婄巼鎸囨(bi膩o)瑭曞児鎶曡硣鏂规缍�(j墨ng)婵�(j矛)鏁堟灉鐨勭己榛�(di菐n)鏄�(銆€)銆�
A銆佽€冩叜浜嗘姇璩囨敹鐩婄殑鏅傞枔鍥犵礌
B銆佹寚妯�(bi膩o)瑷堢畻鐨勪富瑙€鎬уお灏�
C銆佸彧閬╃敤浜庡ぇ鍨嬫姇璩囪(gu墨)妯�
D銆佺⒑瀹氭甯哥敓鐢�(ch菐n)骞翠唤甯舵湁涓€瀹氱殑涓嶇⒑瀹氭€у拰浜虹偤鍥犵礌
5銆侀噰鐢ㄦ姇璩囨敹鐩婄巼鎸囨(bi膩o)瑭曞児鎶曡硣鏂规缍�(j墨ng)婵�(j矛)鏁堟灉鐨勫劒(y艒u)榛�(di菐n)鏄�(銆€)銆�
A銆佹寚妯�(bi膩o)鐨勭稉(j墨ng)婵�(j矛)鎰忕京鏄庣⒑锛岀洿瑙€
B銆佽€冩叜浜嗘姇璩囨敹鐩婄殑鏅傞枔鍥犵礌
C銆佸鏄撻伕鎿囨甯哥敓鐢�(ch菐n)骞翠唤
D銆佸弽鏄犱簡璩囨湰鐨勫懆杞�(zhu菐n)閫熷害
6銆佹煇闋�(xi脿ng)鐩缓瑷�(sh猫)鏈� 1 骞�锛岀附鎶曡硣 900 钀厓锛屽叾涓祦鍕曡硣閲� 100 钀厓銆傚缓鎴愭姇鐢�(ch菐n)鍚庢瘡骞村噲鏀剁泭鍧囩偤 150 钀厓銆傝嚜寤鸿ō(sh猫)闁嬪骞磋捣锛岃┎闋�(xi脿ng)鐩殑闈滄厠(t脿i)鎶曡硣鍥炴敹鏈熺偤(銆€)骞�銆�
A銆�5.3
B銆�6.0
C銆�6.3
D銆�7.0
7銆侀棞(gu膩n)浜庡埄鎭倷浠樼巼鐨勮娉�锛屾纰虹殑鏄�(銆€)銆�
A銆佸埄鎭倷浠樼巼瓒婇珮锛岃〃鏄庡埄鎭劅浠樼殑淇濋殰绋嬪害瓒婇珮
B銆佸埄鎭倷浠樼巼瓒婇珮锛岃〃鏄庡埄鎭劅浠樼殑淇濋殰绋嬪害瓒婁綆
C銆佸埄鎭倷浠樼巼澶т簬闆�锛岃〃鏄庡埄鎭劅浠樿兘鍔涘挤(qi谩ng)
D銆佸埄鎭倷浠樼巼灏忎簬闆讹紝琛ㄦ槑鍒╂伅鍎熶粯鑳藉姏寮�(qi谩ng)
8銆佷笅鍒楅伕闋�(xi脿ng)涓笉灞簬鍎熷偟鑳藉姏鎸囨(bi膩o)鐨勬槸(銆€)銆�
A銆佽硣鏈噾鍑堝埄娼ょ巼
B銆佽硣鐢�(ch菐n)璨�(f霉)鍌电巼
C銆佸埄鎭倷浠樼巼
D銆佸劅鍌靛倷浠樼巼
9銆佹姇璩囨柟妗堢稉(j墨ng)婵�(j矛)鏁堟灉瑭曞児鎸囨(bi膩o)涓�锛屽埄鎭倷浠樼巼鏄寚鎶曡硣鏂规鍦ㄥ€熸鍎熼倓鏈熷収(n猫i)鐨�(銆€)鐨勬瘮鍊笺€�
A銆佹伅绋呭墠鍒╂饯鑸囩暥(d膩ng)鏈熸噳(y墨ng)浠樺埄鎭噾椤�
B銆佹伅绋呭墠鍒╂饯鑸囩暥(d膩ng)鏈熸噳(y墨ng)閭勬湰浠樻伅閲戦
C銆佺▍鍓嶅埄娼よ垏鐣�(d膩ng)鏈熸噳(y墨ng)浠樺埄鎭噾椤�
D銆佺▍鍓嶅埄娼よ垏鐣�(d膩ng)鏈熸噳(y墨ng)閭勬湰浠樻伅閲戦
10銆侀噰鐢ㄦ姇璩囧洖鏀舵湡鎸囨(bi膩o)瑭曞児鎶曡硣鏂规鐨勭稉(j墨ng)婵�(j矛)鏁堟灉鏅�锛屽叾鍎�(y艒u)榛�(di菐n)鏄兘澶�(銆€)銆�
A銆佸叏闈㈣€冩叜鏁村€嬭▓绠楁湡鍏�(n猫i)鐨勭従(xi脿n)閲戞祦閲�
B銆佷綔鐐烘姇璩囨柟妗堥伕鎿囩殑鍙潬渚濇摎(j霉)
C銆佷竴瀹氱▼搴︿笂鍙嶆槧璩囨湰鐨勫懆杞�(zhu菐n)閫熷害
D銆佹簴(zh菙n)纰鸿 閲忔暣鍊嬭▓绠楁湡鍏�(n猫i)鐨勭稉(j墨ng)婵�(j矛)鏁堟灉
11銆佸埄鐢ㄦ姇璩囧洖鏀舵湡鎸囨(bi膩o)瑭曞児鎶曡硣鏂规缍�(j墨ng)婵�(j矛)鏁堟灉鐨勪笉瓒虫槸(銆€)銆�
A銆佷笉鑳藉叏闈㈠弽鏄犺硣鏈殑鍛ㄨ綁(zhu菐n)閫熷害
B銆佷笉鑳藉叏闈㈣€冩叜鎶曡硣鏂规鏁村€嬭▓绠楁湡鍏�(n猫i)鐨勭従(xi脿n)閲戞祦閲�
C銆佷笉鑳藉弽鏄犳姇璩囧洖鏀朵箣鍓嶇殑缍�(j墨ng)婵�(j矛)鏁堟灉
D銆佷笉鑳藉弽鏄犲洖鏀跺叏閮ㄦ姇璩囨墍闇€瑕佺殑鏅傞枔
12銆侀棞(gu膩n)浜庡劅鍌靛倷浠樼巼鐨勮娉曪紝姝g⒑鐨勬槸(銆€)銆�
A銆佸劅鍌靛倷浠樼巼瓒婇珮锛岃〃鏄庣敤浜庨倓鏈粯鎭殑璩囬噾淇濋殰瓒婇珮
B銆佸劅鍌靛倷浠樼巼瓒婇珮锛岃〃鏄庣敤浜庨倓鏈粯鎭殑璩囬噾淇濋殰瓒婁綆
C銆佸劅鍌靛倷浠樼巼澶т簬闆�锛岃〃鏄庡劅閭勮兘鍔涘挤(qi谩ng)
D銆佸劅鍌靛倷浠樼巼灏忎簬闆�锛岃〃鏄庡劅閭勮兘鍔涘急
13銆佺暥(d膩ng)闋�(xi脿ng)鐩姇璩囩敱鑷湁璩囬噾鍜岃哺娆剧祫鎴愭檪锛屾渶浣庢敹鐩婄巼涓嶆噳(y墨ng)浣庝簬(銆€)銆�
A銆佽哺娆惧埄鐜�
B銆佽妤�(y猫)鍩烘簴(zh菙n)鏀剁泭鐜�
C銆佽妤�(y猫)鍩烘簴(zh菙n)鏀剁泭鐜囪垏璨告鍒╃巼鐨勫钩鍧囨敹鐩婄巼
D銆佽妤�(y猫)鍩烘簴(zh菙n)鏀剁泭鐜囪垏璨告鍒╃巼鐨勫姞娆�(qu谩n)骞冲潎鏀剁泭鐜�
14銆佹姇璩囨柟妗堢稉(j墨ng)婵�(j矛)瑭曞児涓殑鍩烘簴(zh菙n)鏀剁泭鐜囨槸鎸囨姇璩囪硣閲戞噳(y墨ng)鐣�(d膩ng)鐛插緱鐨�(銆€)鐩堝埄鐜囨按骞�銆�
A銆佹渶浣�
B銆佹渶楂�
C銆佸钩鍧�
D銆佺祫鍚�
15銆佸収(n猫i)閮ㄦ敹鐩婄巼鏄娇(銆€)绛変簬闆舵檪鐨勬姌鐝�(xi脿n)鐜囥€�
A銆佸湪瑷堢畻鏈熷収(n猫i)鍚勫勾鍑堢従(xi脿n)閲戞祦閲忕殑绱▓
B銆佸湪閬�(y霉n)鐕熸湡鍏�(n猫i)鍚勫勾鍑堢従(xi脿n)閲戞祦閲忕殑鐝�(xi脿n)鍊肩疮瑷�
C銆佸湪寤鸿ō(sh猫)鏈熷収(n猫i)鍚勫勾鍑堢従(xi脿n)閲戞祦閲忕殑鐝�(xi脿n)鍊肩疮瑷�
D銆佸湪瑷堢畻鏈熷収(n猫i)鍚勫勾鍑堢従(xi脿n)閲戞祦閲忕殑鐝�(xi脿n)鍊肩疮瑷�
16銆佷笅鍒楁姇璩囨柟妗堢稉(j墨ng)婵�(j矛)鏁堟灉瑭曞児鎸囨(bi膩o)涓�锛岃兘澶犵洿鎺ヨ 閲忛爡(xi脿ng)鐩湭鍥炴敹鎶曡硣鐨勬敹鐩婄巼鐨勬寚妯�(bi膩o)鏄�(銆€)銆�
A銆佹姇璩囨敹鐩婄巼
B銆佸噲鐝�(xi脿n)鍊肩巼
C銆佹姇璩囧洖鏀舵湡
D銆佸収(n猫i)閮ㄦ敹鐩婄巼
17銆佷笅鍒楅棞(gu膩n)浜庡収(n猫i)閮ㄦ敹鐩婄巼鐨勬弿杩颁笉姝g⒑鐨勬槸(銆€)銆�
A銆佸収(n猫i)閮ㄦ敹鐩婄巼鑰冩叜浜嗚硣閲戠殑鏅傞枔鍍瑰€�
B銆佸収(n猫i)閮ㄦ敹鐩婄巼鑰冩叜浜嗘暣鍊嬭▓绠楁湡鍏�(n猫i)鐨勭稉(j墨ng)婵�(j矛)鐙€娉�
C銆佸収(n猫i)閮ㄦ敹鐩婄巼鑳藉鐩存帴琛¢噺闋�(xi脿ng)鐩湭鍥炴敹鎶曡硣鐨勬敹鐩婄巼
D銆佸収(n猫i)閮ㄦ敹鐩婄巼鐨勮▓绠楃祼(ji茅)鏋滄槸鍞竴鐨�
18銆佹煇闋�(xi脿ng)鐩殑鍩烘簴(zh菙n)鏀剁泭鐜� i0=14%锛屽叾鍑堢従(xi脿n)鍊� NPV=18.8 钀厓?锛孎(xi脿n)鐐轰簡瑷堢畻鍏跺収(n猫i)閮ㄦ敹鐩婄巼锛屽垎鍒ョ敤i1=13%锛宨2=16%锛宨3=17%閫�(j矛n)琛岃│绠楋紝寰楀嚭 NPV1=33.2 钀厓锛孨PV2=锕�6.1 钀厓锛孨PV3=锕�10.8 钀厓銆傚墖閲囩敤鍏�(n猫i)鎻掓硶姹傚緱鐨勬渶鎺ヨ繎绮剧⒑瑙g殑鍏�(n猫i)閮ㄦ敹鐩婄巼鐐�(銆€)銆�
A銆�14.53%
B銆�15.31%
C銆�15.51%
D銆�15.91%
19銆佹煇寤鸿ō(sh猫)闋�(xi脿ng)鐩�锛岀暥(d膩ng) i1=20%鏅�锛岃病鍕�(w霉)鍑堢従(xi脿n)鍊肩偤 72.68 钀厓;鐣�(d膩ng) i2=22%鏅�锛岃病鍕�(w霉)鍑堢従(xi脿n)鍊肩偤-62.39 钀厓銆傚墖瑭插缓瑷�(sh猫)闋�(xi脿ng)鐩殑璨″嫏(w霉)鍏�(n猫i)閮ㄦ敹鐩婄巼鐐�(銆€)銆�
A銆�21.08%
B銆�21.70%
C銆�22.06%
D銆�22.81%
20銆佹煇鎶€琛�(sh霉)鏂规鐨勭従(xi脿n)閲戞祦閲忕偤甯歌(gu墨)鐝�(xi脿n)閲戞祦閲�锛岀暥(d膩ng)鍩烘簴(zh菙n)鏀剁泭鐜囩偤 8%鏅�锛屽噲鐝�(xi脿n)鍊肩偤 400 钀厓銆傝嫢鍩烘簴(zh菙n)鏀剁泭鐜囪畩?y艒u)?10%锛岃┎鎶€琛�(sh霉)鏂规鐨� NPV 灏�(銆€)銆�
A銆佸ぇ浜� 400 钀厓
B銆佸皬浜� 400 钀厓
C銆佺瓑浜� 400 钀厓
D銆佷笉纰哄畾
21銆佺敤渚嗚⿻鍍规姇璩囨柟妗堢稉(j墨ng)婵�(j矛)鏁堟灉鐨勫噲鐝�(xi脿n)鍊肩巼鎸囨(bi膩o)鏄寚闋�(xi脿ng)鐩噲鐝�(xi脿n)鍊艰垏(銆€)鐨勬瘮鍊�銆�
A銆佸浐瀹氳硣鐢�(ch菐n)鎶曡硣绺介
B銆佸缓绛戝畨瑁濆伐绋嬫姇璩囩附椤�
C銆侀爡(xi脿ng)鐩叏閮ㄦ姇璩囩従(xi脿n)鍊�
D銆佸缓绛戝畨瑁濆伐绋嬪叏閮ㄦ姇璩囩従(xi脿n)鍊�
22銆佹煇宸ョ▼鐝�(xi脿n)閲戞祦閲忓涓嬭〃锛岃ō(sh猫)鍩烘簴(zh菙n)鏀剁泭鐜囩偤 10%锛屽墖鍑堢従(xi脿n)鍊肩巼鐐�(銆€)銆�
骞翠唤 0 1 2 3 4 5
鐝�(xi脿n)閲戞祦鍏� 1000 1200 1200 1200 1200
鐝�(xi脿n)閲戞祦鍑� 2000 400 200 200 200 200
A銆�0.456
B銆�0.516
C銆�0.713
D銆�1.426
23銆佷笅鍒楅棞(gu膩n)浜庨亱(y霉n)鐢ㄧ稉(j墨ng)婵�(j矛)鏁堟灉瑭曞児鎸囨(bi膩o)灏嶆姇璩囨柟妗堥€�(j矛n)琛岃⿻鍍圭殑涓昏鐢ㄩ€旀弿杩颁笉姝g⒑鐨勬槸(銆€)銆�
A銆佸皪鏌愪竴鏂规閫�(j矛n)琛屽垎鏋�锛屽垽鏂疯┎鏂规鍦ㄧ稉(j墨ng)婵�(j矛)涓婃槸鍚﹀彲琛�
B銆佸皪浜庡鏂规閫�(j矛n)琛岀稉(j墨ng)婵�(j矛)涓婄殑姣旈伕
C銆侀渶瑕侀伕鐢ㄩ仼鐣�(d膩ng)鎸囨(bi膩o)骞惰▓绠楁寚妯�(bi膩o)鍊�锛屾牴鎿�(j霉)鍒ゆ柗婧�(zh菙n)鍓囪⿻鍍瑰叾缍�(j墨ng)婵�(j矛)鎬�
D銆佸儏瑷堢畻鍚勭ó鏂规鐨勮⿻鍍规寚妯�(bi膩o)骞朵綔鍑虹祼(ji茅)璜�锛屽叾缍�(j墨ng)婵�(j矛)鎬ц⿻鍍圭殑绲�(ji茅)璜栨槸鍙潬鐨�
24銆佸湪澶氬€嬪倷閬告柟妗堜腑锛屽悇鍊嬫柟妗堝郊姝ゅ彲浠ョ浉浜掓浛浠�銆傚墖閫欎簺鏂规涔嬮枔鐨勯棞(gu膩n)绯绘槸(銆€)銆�
A銆佺崹(d煤)绔嬮棞(gu膩n)绯�
B銆佷簰鏂ラ棞(gu膩n)绯�
C銆佷簰瑁�(b菙)闂�(gu膩n)绯�
D銆佺従(xi脿n)閲戞祦閲忕浉闂�(gu膩n)闂�(gu膩n)绯�
25銆侀€�(j矛n)琛岀崹(d煤)绔嬪瀷鎶曡硣鏂规缍�(j墨ng)婵�(j矛)鏁堟灉瑭曞児鏅�锛岃獚(r猫n)鐐烘柟妗堝湪缍�(j墨ng)婵�(j矛)涓婂彲琛屻€佽兘澶犻€氶亷绲曞皪缍�(j墨ng)婵�(j矛)鏁堟灉妾㈤(y脿n)鐨勬浠舵槸(銆€)銆�
A銆佸閲忔姇璩囨敹鐩婄巼涓嶅皬浜庡熀婧�(zh菙n)鎶曡硣鏀剁泭鐜�
B銆侀潨鎱�(t脿i)鎶曡硣鍥炴敹鏈熶笉瓒呴亷鍩烘簴(zh菙n)鎶曡硣鍥炴敹鏈�
C銆佹姇璩囨敹鐩婄巼闈炶矤(f霉)
D銆佸閲忔姇璩囧洖鏀舵湡涓嶈秴閬庡熀婧�(zh菙n)鎶曡硣鍥炴敹鏈�
26銆佹煇鏂规閲囩敤澧為噺鎶曡硣鏀剁泭鐜囬€�(j矛n)琛屾瘮閬�锛岀敳銆佷箼鏂规鐨勬姇璩囬鍒嗗垾鐐� 2500 钀厓銆�3000 钀厓锛岀稉(j墨ng)鐕熸垚鏈垎鍒ョ偤 100 钀厓銆�50 钀厓锛屽墖澧為噺鎶曡硣鏀剁泭鐜囩偤(銆€)銆�
A銆�8%
B銆�10%
C銆�12%
D銆�15%
27銆侀噰鐢ㄤ簰鏂ユ柟妗堥潨鎱�(t脿i)瑭曞児鏂规硶鐨勮⿻鍍规簴(zh菙n)鍓囦笉姝g⒑鐨勬槸(銆€)銆�
A銆佺暥(d膩ng)?sh霉)鐜檷鑴戦毥瀹㈤】Y鏀剁泭鐜囧ぇ浜庡熀婧�(zh菙n)鎶曡硣鏀剁泭鐜囨檪锛屽墖鎶曡硣椤嶅皬鐨勬柟妗堝彲琛�
B銆佺暥(d膩ng)?sh霉)鐜檷鑴戦毥瀹㈤】Y鍥炴敹鏈熷皬浜庡熀婧�(zh菙n)鎶曡硣鏀舵湡鏅�锛屾姇璩囬澶х殑鏂规鍙
C銆佹牴鎿�(j霉)骞存姌绠楄不(f猫i)鐢�锛岄伕鎿囨渶灏忚€呯偤鏈€鍎�(y艒u)鏂规
D銆佸湪鏂规瑭曢伕鏅傦紝缍滃悎绺借不(f猫i)鐢ㄧ偤鏈€灏忕殑鏂规鍗崇偤鏈€鍎�(y艒u)鏂规
28銆佸皪浜庢晥鐩婂熀鏈浉鍚�锛屼絾鏁堢泭闆d互鐢ㄨ波骞g洿鎺ヨ▓閲忕殑浜掓枼鎶曡硣鏂规锛屽湪閫�(j矛n)琛屾瘮閬告檪甯哥敤(銆€)鏇夸唬鍑堢従(xi脿n)鍊�銆�
A銆佸閲忔姇璩�
B銆佽不(f猫i)鐢ㄧ従(xi脿n)鍊�
C銆佸勾鎶樼畻璨�(f猫i)鐢�
D銆佸噲鐝�(xi脿n)鍊肩巼
29銆佺敳涔欎簰鏂ユ柟妗堝=鍛芥湡鐩稿悓锛孖RR 鐢�=18%锛孖RR 涔�=15%锛屸柍IRR=11%锛屽墖鐣�(d膩ng)鍩烘簴(zh菙n)鏀剁泭鐜囩偤 10%鏅�(銆€銆€)銆�
A銆侀伕鎿囩敳鏂规
B銆侀伕鎿囦箼鏂规
C銆佸潎淇濈暀
D銆佺劇娉曠⒑瀹�
30銆佸湪姣旈伕瑷堢畻鏈熺浉鍚岀殑鍏╁€嬪彲琛屼簰鏂ユ柟妗堟檪閲囩敤澧為噺鎶曡硣鍏�(n猫i)閮ㄦ敹鐩婄巼娉曪紝鍩烘簴(zh菙n)鏀剁泭鐜囩偤 ic锛屽墖淇濈暀鎶曡硣椤嶅皬鐨勬柟妗堢殑鍓嶆彁姊濅欢鏄�(銆€)銆�
A銆�ΔIRR>1
B銆�ΔIRR<1
C銆�ΔIRR>ic
D銆�ΔIRR
31銆侀棞(gu膩n)浜庢姇璩囨柟妗堜笉纰哄畾鎬у垎鏋愯垏棰�(f膿ng)闅垎鏋愮殑瑾硶锛屾纰虹殑鏄�(銆€)銆�
A銆佹晱鎰熸€у垎鏋愬彧閬╃敤浜庤病鍕�(w霉)瑭曞児
B銆侀ⅷ(f膿ng)闅垎鏋愬彧閬╃敤浜庡湅姘戠稉(j墨ng)婵�(j矛)瑭曞児
C銆佺泩铏у钩琛″垎鏋愬彧閬╃敤浜庤病鍕�(w霉)瑭曞児
D銆佺泩铏у钩琛″垎鏋愬彧閬╃敤浜庡湅姘戠稉(j墨ng)婵�(j矛)瑭曞児
32銆佹煇闋�(xi脿ng)鐩ō(sh猫)瑷堢敓鐢�(ch菐n)鑳藉姏鐐� 50 钀欢鐢�(ch菐n)鍝�锛岄爯(y霉)瑷堝柈浣嶇敘(ch菐n)鍝佸児鏍肩偤 100 鍏冿紝鍠綅鐢�(ch菐n)鍝佸彲璁婃垚鏈� 70 鍏�锛屽勾鍥哄畾鎴愭湰鐐� 400 钀厓銆傝嫢瑭茬敘(ch菐n)鍝佺殑閵峰敭绋呴噾鍙婇檮鍔犵殑鍚堝苟绋呯巼鐐� 5%锛屽墖鐢ㄧ敓鐢�(ch菐n)鑳藉姏鍒╃敤鐜囧拰鍠綅鐢�(ch菐n)鍝佸児鏍艰〃绀虹殑闋�(xi脿ng)鐩泩铏у钩琛¢粸(di菐n)鐐�(銆€)銆�
A銆�32%鍜� 82.11 鍏�
B銆�32%鍜� 78 鍏�
C銆�16%鍜� 82.11 鍏�
D銆�16%鍜� 78 鍏�
33銆佹煇鎶曡硣鏂规鐨勫噲鐝�(xi脿n)鍊� NPV 鐐� 200 钀厓锛屽亣瀹氬悇涓嶇⒑瀹氭€у洜绱犲垎鍒ヨ畩鍖�+10%锛岄噸鏂拌▓绠楀緱鍒拌┎鏂规鐨凬PV 瑕嬩笅琛�锛屽墖鏈€鏁忔劅鍥犵礌鐐�(銆€)銆�
A銆佺敳
B銆佷箼
C銆佷笝
D銆佷竵
34銆侀棞(gu膩n)浜庢晱鎰熷害绯绘暩(sh霉) SAF鐨勮娉�锛屾纰虹殑鏄�(銆€)銆�
A銆丼AF瓒婂ぇ锛岃〃绀鸿⿻鍍规寚妯�(bi膩o) A 灏嶄簬涓嶇⒑瀹氬洜绱� F 瓒婃晱鎰�
B銆丼AF=(鈻矨/A)/(鈻矲/F)
C銆�(鈻矨/A)琛ㄧず涓嶇⒑瀹氭€у洜绱犵殑璁婂寲
D銆�(鈻矲/F)琛ㄧず涓嶇⒑瀹氭€у洜绱犵櫦(f膩)鐢熻畩鍖栨檪锛岃⿻鍍规寚妯�(bi膩o)鐩告噳(y墨ng)鐨勮畩鍖栫巼
35銆佸湪鎶曡硣闋�(xi脿ng)鐩稉(j墨ng)婵�(j矛)瑭曞児涓€�(j矛n)琛屾晱鎰熸€у垎鏋愭檪锛岄鍏堟噳(y墨ng)纰哄畾鍒嗘瀽鎸囨(bi膩o)锛屽鏋滆鍒嗘瀽鐢�(ch菐n)鍝佸児鏍兼尝鍕曞皪鎶曡硣鏂规瓒呴鍑堟敹鐩婄殑褰遍熆锛屽彲閬哥敤鐨勫垎鏋愭寚妯�(bi膩o)鏄�(銆€)銆�
A銆佹姇璩囧洖鏀舵湡
B銆佸噲鐝�(xi脿n)鍊�
C銆佸収(n猫i)閮ㄦ敹鐩婄巼
D銆佸€熸鍎熼倓鏈�
36銆佹晱鎰熸€у垎鏋愭柟娉曠殑涓昏缂洪粸(di菐n)鏄�(銆€)銆�
A銆佽▓绠楅亷绋嬫瘮鐩堣櫑骞宠 鍒嗘瀽寰�(f霉)闆�
B銆佷笉鑳借鏄庝笉纰哄畾鍥犵礌鐧�(f膩)鐢熻畩鍕曠殑鍙兘鎬уぇ灏�
C銆侀渶瑕佷富瑙€纰哄畾涓嶇⒑瀹氭€у洜绱犺畩鍕曠殑姒傜巼
D銆佷笉鑳芥壘鍑轰笉纰哄畾鍥犵礌璁婂嫊鐨勮嚚鐣岄粸(di菐n)
37銆佸垵姝ヨ瓨鍒ラⅷ(f膿ng)闅洜绱犵殑閲嶈鎵嬫鏄�(銆€)銆�
A銆侀ⅷ(f膿ng)闅及瑷�
B銆佹晱鎰熸€у垎鏋�
C銆侀ⅷ(f膿ng)闅⿻鍍�
D銆侀ⅷ(f膿ng)闅噳(y墨ng)灏�
38銆佺祼(ji茅)鍚堢稖鍚堥ⅷ(f膿ng)闅洜绱犵瓑绱氱殑鍒嗘瀽绲�(ji茅)鏋�锛屾彁鍑轰笅鍒楁噳(y墨ng)灏嶆柟妗�锛屾纰虹殑鏄�(銆€)銆�
A銆侀ⅷ(f膿ng)闅緢寮�(qi谩ng)锛屽嚭鐝�(xi脿n)閫欓棰�(f膿ng)闅氨瑕佹斁妫勯爡(xi脿ng)鐩�
B銆侀ⅷ(f膿ng)闅挤(qi谩ng)锛岃ō(sh猫)瀹氭煇浜涙寚妯�(bi膩o)鐨勮嚚鐣屽€�锛屾寚妯�(bi膩o)涓€鏃﹂仈(d谩)鍒拌嚚鐣屽€�锛屽氨瑕佽畩鏇磋ō(sh猫)瑷堟垨?q奴)蠅?f霉)闈㈠奖闊块噰鍙栬(b菙)鍎熸帾鏂�
C銆侀ⅷ(f膿ng)闅純寮�(qi谩ng)锛屼慨姝f摤璀颁腑鐨勬柟妗堬紝閫氶亷鏀硅畩瑷�(sh猫)瑷堟垨閲囧彇瑁�(b菙)鍎熸帾鏂界瓑
D銆侀ⅷ(f膿ng)闅仼搴�(杓冨皬)锛屽彲蹇界暐
浜�銆佸闋�(xi脿ng)閬告搰椤�
1銆佸皪缍�(j墨ng)鐕熸€ф妧琛�(sh霉)鏂规锛岀稉(j墨ng)婵�(j矛)鏁堟灉瑭曞児涓昏鍒嗘瀽鎿畾鏂规鐨�(銆€)銆�
A銆佺泩鍒╄兘鍔�
B銆佸劅鍌佃兘鍔�
C銆佹姉棰�(f膿ng)闅兘鍔�
D銆佽病鍕�(w霉)鐢熷瓨鑳藉姏
E銆佸彲鎸佺簩(x霉)閬�(y霉n)琛岃兘鍔�
2銆佷笅鍒楄⿻鍍规寚妯�(bi膩o)涓�锛屽爆浜庢姇璩囨柟妗堢稉(j墨ng)婵�(j矛)鏁堟灉鍕曟厠(t脿i)瑭曞児鎸囨(bi膩o)鐨勬湁(銆€)銆�
A銆佸収(n猫i)閮ㄦ敹鐩婄巼
B銆佸埄鎭倷浠樼巼
C銆佹姇璩囨敹鐩婄巼
D銆佽硣鐢�(ch菐n)璨�(f霉)鍌电巼
E銆佸噲鐝�(xi脿n)鍊肩巼
3銆佷笅鍒楀爆浜庡劅鍌佃兘鍔涙寚妯�(bi膩o)鐨勬湁(銆€)銆�
A銆佹姇璩囧洖鏀舵湡
B銆佸収(n猫i)閮ㄦ敹鐩婄巼
C銆佸埄鎭倷浠樼巼
D銆佸劅鍌靛倷浠樼巼
E銆佽硣鐢�(ch菐n)璨�(f霉)鍌电巼
4銆佷笅鍒楅棞(gu膩n)浜庢姇璩囨柟妗堢稉(j墨ng)婵�(j矛)鏁堟灉瑭曞児鎸囨(bi膩o)鐨勮娉曚腑锛屾纰虹殑鏈�(銆€)銆�
A銆佹姇璩囨敹鐩婄巼鍦ㄤ竴瀹氱▼搴︿笂鍙嶆槧浜嗘姇璩囨晥鏋滅殑鍎�(y艒u)鍔�
B銆佹姇璩囨敹鐩婄巼涓嶉仼鐢ㄤ簬瑭曞児鎶曡硣瑕�(gu墨)妯¤純澶х殑闋�(xi脿ng)鐩�
C銆佸噲鐝�(xi脿n)鍊艰兘澶犲弽鏄犳姇璩囨柟妗堜腑鍠綅鎶曡硣鐨勪娇鐢ㄦ晥鐜�
D銆佸噲鐝�(xi脿n)鍊煎拰鍏�(n猫i)閮ㄦ敹鐩婄巼鍧囪€冩叜浜嗘暣鍊嬭▓绠楁湡鐨勭稉(j墨ng)婵�(j矛)鐙€娉�
E銆佸収(n猫i)閮ㄦ敹鐩婄巼涓嶈兘鐩存帴琛¢噺闋�(xi脿ng)鐩湭鍥炴敹鎶曡硣鐨勬敹鐩婄巼
5銆佷笅鍒楅棞(gu膩n)浜庡噲鐝�(xi脿n)鍊兼寚妯�(bi膩o)鐨勮鏄�锛屾纰虹殑鏈�(銆€)銆�
A銆佸噲鐝�(xi脿n)鍊兼寚妯�(bi膩o)鑳藉鐩存帴浠ヨ波骞i琛ㄧず闋�(xi脿ng)鐩殑鐩堝埄姘村钩
B銆佸湪浜掓枼鏂规瑭曞児鏅�锛屽繀闋堣€冩叜浜掓枼鏂规鐨勫=鍛�
C銆佸噲鐝�(xi脿n)鍊兼寚妯�(bi膩o)鐨勮▓绠楀彧鑸囬爡(xi脿ng)鐩殑鐝�(xi脿n)閲戞祦閲忔湁闂�(gu膩n)
D銆佸噲鐝�(xi脿n)鍊兼寚妯�(bi膩o)涓嶈兘鍙嶆槧鍠綅鎶曡硣鐨勪娇鐢ㄦ晥鐜�
E銆佸噲鐝�(xi脿n)鍊兼寚妯�(bi膩o)涓嶈兘鐩存帴瑾槑鍦ㄩ爡(xi脿ng)鐩亱(y霉n)鐕熸湡闁撳悇骞寸殑缍�(j墨ng)鐕熸垚鏋�
6銆佷笅鍒楀奖闊垮洜绱犱腑锛屽爆浜庣⒑瀹氬熀婧�(zh菙n)鏀剁泭鐜囧熀绀�(ch菙)鍥犵礌鐨勬湁(銆€)銆�
A銆佽硣閲戞垚鏈�
B銆佹姇璩囬ⅷ(f膿ng)闅�
C銆佸懆杞�(zhu菐n)閫熷害
D銆佹(j墨)鏈冩垚鏈�
E銆侀€氳波鑶ㄨ劰
7銆侀棞(gu膩n)浜庨爡(xi脿ng)鐩病鍕�(w霉)鍏�(n猫i)閮ㄦ敹鐩婄殑瑾硶锛屾纰虹殑鏈�(銆€)銆�
A銆佸収(n猫i)閮ㄦ敹鐩婁笉鏄垵濮嬫姇璩囧湪鏁村€嬭▓绠楁湡鍏�(n猫i)鐨勭泩鍒╃巼
B銆佽▓绠楀収(n猫i)閮ㄦ敹鐩婄巼闇€瑕佷簨鍏堢⒑瀹氬熀婧�(zh菙n)鏀剁泭鐜�
C銆佸収(n猫i)閮ㄦ敹鐩婄巼鏄娇闋�(xi脿ng)鐩病鍕�(w霉)鍑堢従(xi脿n)鍊肩偤闆剁殑鏀剁泭鐜�
D銆佸収(n猫i)閮ㄦ敹鐩婄巼鐨勮⿻鍍规簴(zh菙n)鍓囨槸 IRR≥0 鏅傛柟妗堝彲琛�
E銆佸収(n猫i)閮ㄦ敹鐩婄巼鏄爡(xi脿ng)鐩垵濮嬫姇璩囧湪澹藉懡鏈熷収(n猫i)鐨勬敹鐩婄巼
8銆佷笅鍒楄⿻鍍规柟娉曚腑锛岀敤浜庝簰鏂ユ姇璩囨柟妗堥潨鎱�(t脿i)鍒嗘瀽瑭曞児鐨勬湁(銆€)銆�
A銆佸閲忔姇璩囧収(n猫i)閮ㄦ敹鐩婄巼娉�
B銆佸閲忔姇璩囨敹鐩婄巼娉�
C銆佸閲忔姇璩囧洖鏀舵湡娉�
D銆佸噲骞村€兼硶
E銆佸勾鎶樼畻璨�(f猫i)鐢ㄦ硶
9銆侀噰鐢ㄥ嫊鎱�(t脿i)鏂规硶瑭曞児瑷堢畻鏈熺浉鍚岀殑浜掓枼鏂规缍�(j墨ng)婵�(j矛)鏁堟灉鏅�锛岄伕鎿囨渶浣虫柟妗堢殑婧�(zh菙n)鍓囨湁(銆€)銆�
A銆佸閲忔姇璩囧収(n猫i)閮ㄦ敹鐩婄巼澶т簬鍩烘簴(zh菙n)鏀剁泭鐜囨檪鍒濆鎶曡硣椤嶅ぇ鐨勬柟妗�
B銆佸閲忔姇璩囧収(n猫i)閮ㄦ敹鐩婄巼澶т簬鍩烘簴(zh菙n)鏀剁泭鐜囨檪鍒濆鎶曡硣椤嶅皬鐨勬柟妗�
C銆佸閲忔姇璩囧収(n猫i)閮ㄦ敹鐩婄巼灏忎簬鍩烘簴(zh菙n)鏀剁泭鐜囦繚鐣欐姇璩囬澶х殑鏂规
D銆佸噲骞村€奸潪璨�(f霉)涓斿叾鍊肩偤鏈€澶х殑鏂规
E銆佸噲鐝�(xi脿n)鍊奸潪璨�(f霉)涓斿叾鍊肩偤鏈€澶х殑鏂规
10銆佺窔鎬х泩铏у钩琛″垎鏋愮殑鍓嶆彁姊濅欢鍖呮嫭(銆€)銆�
A銆侀爡(xi脿ng)鐩彲琛�
B銆佺敓鐢�(ch菐n)閲忕瓑浜庨姺鍞噺
C銆侀姺鍞児鏍间笉璁�
D銆佸柈浣嶅彲璁婃垚鏈笉璁�
E銆侀姺鍞噺涓嶈畩
銆愬弮鑰冪瓟妗堢炕闋佹煡鐪嬨€�
涓€銆佸柈闋�(xi脿ng)閬告搰椤�
1銆�
銆愭纰虹瓟妗堛€� D
銆愮瓟妗堣В鏋愩€� 鏈鑰冩煡鐨勬槸缍�(j墨ng)婵�(j矛)鏁堟灉瑭曞児鐨勫収(n猫i)瀹瑰拰鍩烘湰鏂规硶銆傚嫊鎱�(t脿i)瑭曞児鏂规硶鑰冩叜璩囬噾鏅傞枔鍍瑰€�锛岃兘杓冨叏闈㈠湴鍙嶆槧鎶曡硣鏂规鏁村€嬭▓绠楁湡鐨勭稉(j墨ng)婵�(j矛)鏁堟灉銆�
2銆�
銆愭纰虹瓟妗堛€� C
銆愮瓟妗堣В鏋愩€� 鏈鑰冩煡鐨勬槸缍�(j墨ng)婵�(j矛)鏁堟灉瑭曞児鐨勫収(n猫i)瀹瑰拰鍩烘湰鏂规硶銆傚噲骞村€笺€佸噲鐝�(xi脿n)鍊�銆佸収(n猫i)閮ㄦ敹鐩婄巼鍧囩偤鍕曟厠(t脿i)鎸囨(bi膩o)锛岄渶瑕佽€冩叜璩囬噾鏅傞枔鍍瑰€肩殑鍟忛銆�
3銆�
銆愭纰虹瓟妗堛€� A
銆愮瓟妗堣В鏋愩€� 鏈鑰冩煡鐨勬槸鎶曡硣鏀剁泭鐜囪垏鎶曡硣鍥炴敹鏈�銆傚皣瑷堢畻鍑虹殑鎶曡硣鏀剁泭鐜�(R)鑸囨墍纰哄畾鐨勫熀婧�(zh菙n)鎶曡硣鏀剁泭鐜�(Re)閫�(j矛n)琛屾瘮杓冿細(1)鑻� R≥Re锛屽墖鏂规鍦ㄧ稉(j墨ng)婵�(j矛)涓婂彲浠ヨ€冩叜鎺ュ彈;(2)鑻� R 婵�(j矛)涓婃槸涓嶅彲琛岀殑銆�
4銆�
銆愭纰虹瓟妗堛€� D
銆愮瓟妗堣В鏋愩€� 鏈鑰冩煡鐨勬槸鎶曡硣鏀剁泭鐜囪垏鎶曡硣鍥炴敹鏈�銆傛姇璩囨敹鐩婄巼鎸囨(bi膩o)鐨勭己榛�(di菐n)锛氭矑鏈夎€冩叜鎶曡硣鏀剁泭鐨勬檪闁撳洜绱�锛屽拷瑕栦簡璩囬噾鍏锋湁鏅傞枔鍍瑰€肩殑閲嶈鎬�;鎸囨(bi膩o)瑷堢畻鐨勪富瑙€闅ㄦ剰鎬уお寮�(qi谩ng)銆傛彌鍙ヨ┍瑾�锛屽氨鏄甯哥敓鐢�(ch菐n)骞翠唤鐨勯伕鎿囨瘮杓冨洶缍�锛屽浣曠⒑瀹氬付鏈変竴瀹氱殑涓嶇⒑瀹氭€у拰浜虹偤鍥犵礌銆傚洜姝�锛屼互鎶曡硣鏀剁泭鐜囨寚妯�(bi膩o)浣滅偤涓昏鐨勬焙绛栦緷鎿�(j霉)涓嶅お鍙潬銆�
5銆�
銆愭纰虹瓟妗堛€� A
銆愮瓟妗堣В鏋愩€� 鏈鑰冩煡鐨勬槸鎶曡硣鏀剁泭鐜囪垏鎶曡硣鍥炴敹鏈熴€傛姇璩囨敹鐩婄巼鎸囨(bi膩o)鐨勭稉(j墨ng)婵�(j矛)鎰忕京鏄庣⒑銆佺洿瑙€锛岃▓绠楃啊渚匡紝鍦ㄤ竴瀹氱▼搴︿笂鍙嶆槧浜嗘姇璩囨晥鏋滅殑鍎�(y艒u)鍔�锛屽彲閬╃敤浜庡悇绋姇璩囪(gu墨)妯�銆�
6銆�
銆愭纰虹瓟妗堛€� D
銆愮瓟妗堣В鏋愩€� 鏈鑰冩煡鐨勬槸鎶曡硣鍥炴敹鏈�銆傞潨鎱�(t脿i)鎶曡硣鍥炴敹鏈熸槸鍦ㄤ笉鑰冩叜璩囬噾鐨勬檪闁撳児鍊肩殑姊濅欢涓�锛屼互闋�(xi脿ng)鐩殑鍑堟敹鐩婂洖鏀跺叾鍏ㄩ儴鎶曡硣鎵€闇€瑕佺殑鏅傞枔銆傛姇璩囧洖鏀舵湡鍙嚜闋�(xi脿ng)鐩缓瑷�(sh猫)闁嬪骞寸畻璧凤紝涔熷彲鑷爡(xi脿ng)鐩姇鐢�(ch菐n)骞撮枊濮嬬畻璧�锛屼絾鎳�(y墨ng)浜堜互娉ㄦ槑銆傞骞茬郸鍑鸿嚜寤鸿ō(sh猫)闁嬪骞磋捣锛屽嵆 Pt=1+900/150=7(骞�)銆�
7銆�
銆愭纰虹瓟妗堛€� A
銆愮瓟妗堣В鏋愩€� 鏈鑰冩煡鐨勬槸鍎熷偟鑳藉姏鎸囨(bi膩o)銆傚埄鎭倷浠樼巼瓒婇珮锛岃〃鏄庡埄鎭劅浠樼殑淇濋殰绋嬪害瓒婇珮銆傚埄鎭倷浠樼巼鎳�(y墨ng)澶т簬 1锛屽苟绲�(ji茅)鍚堝偟娆�(qu谩n)浜虹殑瑕佹眰纰哄畾銆�
8銆�
銆愭纰虹瓟妗堛€� A
銆愮瓟妗堣В鏋愩€� 鏈鑰冩煡鐨勬槸鍎熷偟鑳藉姏鎸囨(bi膩o)銆傚劅鍌佃兘鍔涙寚妯�(bi膩o)鍖呮嫭锛氳硣鐢�(ch菐n)璨�(f霉)鍌电巼銆佸埄鎭倷浠樼巼銆佸劅鍌靛倷浠樼巼銆�
9銆�
銆愭纰虹瓟妗堛€� A
銆愮瓟妗堣В鏋愩€� 鏈鑰冩煡鐨勬槸缍�(j墨ng)婵�(j矛)鏁堟灉瑭曞児鐨勫収(n猫i)瀹瑰強鎸囨(bi膩o)楂旂郴銆傚埄鎭倷浠樼巼(ICR)涔熺ū宸茬嵅鍒╂伅鍊嶆暩(sh霉)锛屾槸鎸囨姇璩囨柟妗堝湪鍊熸鍎熼倓鏈熷収(n猫i)鐨勬伅绋呭墠鍒╂饯(EBIT)鑸囩暥(d膩ng)鏈熸噳(y墨ng)浠樺埄鎭�(PI)鐨勬瘮鍊�銆�
10銆�
銆愭纰虹瓟妗堛€� C
銆愮瓟妗堣В鏋愩€� 鏈鑰冩煡鐨勬槸鎶曡硣鏀剁泭鐜囪垏鎶曡硣鍥炴敹鏈�銆傛姇璩囧洖鏀舵湡鍦ㄤ竴瀹氱▼搴︿笂椤ず浜嗚硣鏈殑鍛ㄨ綁(zhu菐n)閫熷害銆備絾涓嶈冻鐨勬槸锛屾姇璩囧洖鏀舵湡娌掓湁鍏ㄩ潰鑰冩叜鎶曡硣鏂规鏁村€嬭▓绠楁湡鍏�(n猫i)鐨勭従(xi脿n)閲戞祦閲�锛屽嵆锛氬彧闁撴帴鑰冩叜鎶曡硣鍥炴敹涔嬪墠鐨勬晥鏋�锛屼笉鑳藉弽鏄犳姇璩囧洖鏀朵箣鍚庣殑鎯呮硜锛屽嵆鐒℃硶婧�(zh菙n)纰鸿 閲忔柟妗堝湪鏁村€嬭▓绠楁湡鍏�(n猫i)鐨勭稉(j墨ng)婵�(j矛)鏁堟灉銆�
11銆�
銆愭纰虹瓟妗堛€� B
銆愮瓟妗堣В鏋愩€� 鏈鑰冩煡鐨勬槸鎶曡硣鏀剁泭鐜囪垏鎶曡硣鍥炴敹鏈�銆傛姇璩囧洖鏀舵湡涓嶈冻鐨勬槸锛屾姇璩囧洖鏀舵湡娌掓湁鍏ㄩ潰鑰冩叜鎶曡硣鏂规鏁村€嬭▓绠楁湡鍏�(n猫i)鐨勭従(xi脿n)閲戞祦閲�锛屽嵆锛氬彧闁撴帴鑰冩叜鎶曡硣鍥炴敹涔嬪墠鐨勬晥鏋�锛屼笉鑳藉弽鏄犳姇璩囧洖鏀朵箣鍚庣殑鎯呮硜锛屽嵆鐒℃硶婧�(zh菙n)纰鸿 閲忔柟妗堝湪鏁村€嬭▓绠楁湡鍏�(n猫i)鐨勭稉(j墨ng)婵�(j矛)鏁堟灉銆�
12銆�
銆愭纰虹瓟妗堛€� A
銆愮瓟妗堣В鏋愩€� 鏈鑰冩煡鐨勬槸鍎熷偟鑳藉姏鎸囨(bi膩o)銆傚劅鍌靛倷浠樼巼瓒婇珮锛岃〃鏄庡彲鐢ㄤ簬閭勬湰浠樻伅鐨勮硣閲戜繚闅滆秺楂�銆傚劅鍌靛倷浠樼巼鎳�(y墨ng)澶т簬 1锛屽苟绲�(ji茅)鍚堝偟娆�(qu谩n)浜虹殑瑕佹眰纰哄畾銆�
13銆�
銆愭纰虹瓟妗堛€� D
銆愮瓟妗堣В鏋愩€� 鏈鑰冩煡鐨勬槸鍑堢従(xi脿n)鍊�銆傜暥(d膩ng)闋�(xi脿ng)鐩姇璩囩敱鑷湁璩囬噾鍜岃哺娆剧祫鎴愭檪锛屾渶浣庢敹鐩婄巼涓嶆噳(y墨ng)浣庝簬琛屾キ(y猫)鍩烘簴(zh菙n)鏀剁泭鐜囪垏璨告鍒╃巼鐨勫姞娆�(qu谩n)骞冲潎鏀剁泭鐜�銆�
14銆�
銆愭纰虹瓟妗堛€� A
銆愮瓟妗堣В鏋愩€� 鏈鑰冩煡鐨勬槸鍑堢従(xi脿n)鍊艰垏鍑堝勾鍊�銆傚熀婧�(zh菙n)鏀剁泭鐜囦篃绋卞熀婧�(zh菙n)鎶樼従(xi脿n)鐜�锛屾槸浼佹キ(y猫)鎴栬妤�(y猫)鎴栨姇璩囪€呬互鍕曟厠(t脿i)鐨勮榛�(di菐n)鎵€纰哄畾鐨勩€佸彲鎺ュ彈鐨勬姇璩囨柟妗堟渶浣庢(bi膩o)婧�(zh菙n)鐨勬敹鐩婃按骞�銆傚畠琛ㄦ槑鎶曡硣姹虹瓥鑰呭皪闋�(xi脿ng)鐩硣閲戞檪闁撳児鍊肩殑浼板児锛屾槸鎶曡硣璩囬噾鎳�(y墨ng)鐣�(d膩ng)鐛插緱鐨勬渶浣庣泩鍒╃巼姘村钩锛屾槸瑭曞児鍜屽垽鏂锋姇璩囨柟妗堝湪缍�(j墨ng)婵�(j矛)涓婃槸鍚﹀彲琛岀殑渚濇摎(j霉)銆�
15銆�
銆愭纰虹瓟妗堛€� D
銆愮瓟妗堣В鏋愩€� 鏈鑰冩煡鐨勬槸鍏�(n猫i)閮ㄦ敹鐩婄巼銆傚収(n猫i)閮ㄦ敹鐩婄巼鏄娇鎶曡硣鏂规鍦ㄨ▓绠楁湡鍏�(n猫i)鍚勫勾鍑堢従(xi脿n)閲戞祦閲忕殑鐝�(xi脿n)鍊肩疮瑷堢瓑浜庨浂鏅傜殑鎶樼従(xi脿n)鐜囥€�
16銆�
銆愭纰虹瓟妗堛€� D
銆愮瓟妗堣В鏋愩€� 鏈鑰冩煡鐨勬槸鍏�(n猫i)閮ㄦ敹鐩婄巼鑸囧噲鐝�(xi脿n)鍊肩巼銆傚収(n猫i)閮ㄦ敹鐩婄巼瀹规槗琚汉瑾よВ鐐烘槸闋�(xi脿ng)鐩垵鏈熸姇璩囩殑鏀剁泭鐜�銆備簨瀵�(sh铆)涓�锛屽収(n猫i)閮ㄦ敹鐩婄巼鐨勭稉(j墨ng)婵�(j矛)鍚京鏄姇璩囨柟妗堝崰鐢ㄧ殑灏氭湭鍥炴敹璩囬噾鐨勭嵅鍒╄兘鍔涳紝瀹冨彇姹轰簬闋�(xi脿ng)鐩収(n猫i)閮�銆�
17銆�
銆愭纰虹瓟妗堛€� D
銆愮瓟妗堣В鏋愩€� 鏈鑰冩煡鐨勬槸鍏�(n猫i)閮ㄦ敹鐩婄巼銆傚収(n猫i)閮ㄦ敹鐩婄巼瑷堢畻楹荤叐;灏嶄簬闈炲父瑕�(gu墨)鐝�(xi脿n)閲戞祦閲忕殑闋�(xi脿ng)鐩締瑾�锛岃▓绠楃祼(ji茅)鏋滃線寰€涓嶅敮涓€銆�
18銆�
銆愭纰虹瓟妗堛€� C
銆愮瓟妗堣В鏋愩€� 鏈鑰冩煡鐨勬槸鍏�(n猫i)閮ㄦ敹鐩婄巼鑸囧噲鐝�(xi脿n)鍊肩巼銆傚湪閲囩敤鍏�(n猫i)鎻掓硶姹傝В鍏�(n猫i)閮ㄦ敹鐩婄巼鏅傦紝瑕侀伕鍙栧噲鐝�(xi脿n)鍊煎垎鍒ョ偤姝h矤(f霉)鐨勫叐榛�(di菐n)锛屽苟涓旈€欏叐榛�(di菐n)瓒婅繎锛岃▓绠楃簿搴﹁秺楂樸€傚凡鐭ユ浠朵腑绲﹀嚭浜� 4 鍊嬮粸(di菐n)锛屽嵆榛�(di菐n) 1銆侀粸(di菐n) 0銆侀粸(di菐n) 2鍜岄粸(di菐n) 3锛屽洜姝ゆ噳(y墨ng)閲囩敤榛�(di菐n) 0 鍜岄粸(di菐n) 2 瑷堢畻鍏�(n猫i)閮ㄦ敹鐩婄巼銆�14%+18.8×(16%-14%)/(18.8+6.1)=15.51%銆�
19銆�
銆愭纰虹瓟妗堛€� A
銆愮瓟妗堣В鏋愩€� 鏈鑰冩煡鐨勬槸鍏�(n猫i)閮ㄦ敹鐩婄巼銆�20%+[72.68/(72.68+62.39)]×(22%-20%)=21.08% 銆�
20銆�
銆愭纰虹瓟妗堛€� B
銆愮瓟妗堣В鏋愩€� 鏈鑰冩煡鐨勬槸鍑堢従(xi脿n)鍊艰垏鍑堝勾鍊�銆傚伐绋嬬稉(j墨ng)婵�(j矛)涓父瑕�(gu墨)鎶曡硣闋�(xi脿ng)鐩殑鍑堢従(xi脿n)鍊煎嚱鏁�(sh霉)鏇茬窔闅ㄨ憲鍒╃巼鐨勫鍔犺€岄仦娓�銆傚鏋滃埄鐜�(鍩烘簴(zh菙n)鏀剁泭鐜�)鐐� 8%鏅傦紝鍑堢従(xi脿n)鍊肩偤 400 钀厓锛岄偅涔堝埄鐜�(鍩烘簴(zh菙n)鏀剁泭鐜�)鐐�10%(澶т簬 8%)鏅�锛屽噲鐝�(xi脿n)鍊间竴瀹氬皬浜� 400 钀厓銆�
21銆�
銆愭纰虹瓟妗堛€� C
銆愮瓟妗堣В鏋愩€� 鏈鑰冩煡鐨勬槸鍏�(n猫i)閮ㄦ敹鐩婄巼鑸囧噲鐝�(xi脿n)鍊肩巼銆傚噲鐝�(xi脿n)鍊肩巼鏄爡(xi脿ng)鐩噲鐝�(xi脿n)鍊艰垏闋�(xi脿ng)鐩叏閮ㄦ姇璩囩従(xi脿n)鍊间箣姣�銆�
22銆�
銆愭纰虹瓟妗堛€� C
銆愮瓟妗堣В鏋愩€� 鏈鑰冩煡鐨勬槸鍑堢従(xi脿n)鍊肩巼銆侼PV=-2000+(1000-400)(P/F锛�10%锛�1)+(1200-200)(P/A锛�10%锛�4)(P/F锛�10%锛�1)=1427锛孨PVR=1427/2000=0.713銆�
23銆�
銆愭纰虹瓟妗堛€� D
銆愮瓟妗堣В鏋愩€� 鏈鑰冩煡鐨勬槸瑭曞児鏂规鐨勯鍨嬨€傞亱(y霉n)鐢ㄧ稉(j墨ng)婵�(j矛)鏁堟灉瑭曞児鎸囨(bi膩o)灏嶆姇璩囨柟妗堥€�(j矛n)琛岃⿻鍍�锛屼富瑕佹湁鍏╁€嬬敤閫旓細涓€鏄皪鏌愪竴鏂规閫�(j矛n)琛屽垎鏋愶紝鍒ゆ柗瑭叉柟妗堝湪缍�(j墨ng)婵�(j矛)涓婃槸鍚﹀彲琛�銆傚皪浜庨€欑ó鎯呮硜锛岄渶瑕侀伕鐢ㄩ仼鐣�(d膩ng)鎸囨(bi膩o)骞惰▓绠楁寚妯�(bi膩o)鍊�锛屾牴鎿�(j霉)鍒ゆ柗婧�(zh菙n)鍓囪⿻鍍瑰叾缍�(j墨ng)婵�(j矛)鎬у嵆鍙�;浜屾槸灏嶄簬澶氭柟妗堥€�(j矛n)琛岀稉(j墨ng)婵�(j矛)涓婄殑姣旈伕锛屾鏅傦紝濡傛灉鍍呰▓绠楀悇绋柟妗堢殑瑭曞児鎸囨(bi膩o)骞朵綔鍑虹祼(ji茅)璜�锛屽叾绲�(ji茅)璜栧彲鑳芥槸涓嶅彲闈犵殑銆�
24銆�
銆愭纰虹瓟妗堛€� B
銆愮瓟妗堣В鏋愩€� 鏈鑰冩煡鐨勬槸瑭曞児鏂规鐨勯鍨�銆備簰鏂ュ瀷鏂规鏄寚鍦ㄨ嫢骞插€嬪倷閬告柟妗堜腑锛屽悇鍊嬫柟妗堝郊姝や箣闁撳彲浠ョ浉浜掍唬鏇�銆�
25銆�
銆愭纰虹瓟妗堛€� B
銆愮瓟妗堣В鏋愩€� 鏈鑰冩煡鐨勬槸瑭曞児鏂规鐨勯鍨�銆傚皪浜庣崹(d煤)绔嬪瀷鏂规锛屽彲浠ョ敤浠ヤ笅鎸囨(bi膩o)渚嗚⿻鍍癸細鎶曡硣鏀剁泭鐜�;鎶曡硣鍥炴敹鏈�;NPV 鍜� IRR銆傚閲忔姇璩囨敹鐩婄巼銆佹姇璩囨敹鐩婄巼鍧囩偤鐩稿皪鎸囨(bi膩o);澧為噺鎶曡硣鏀剁泭鐜囧拰澧為噺鎶曡硣鍥炴敹鏈熼兘鏄⿻鍍逛簰鏂ユ柟妗堟墍鐢ㄥ埌鐨勬寚妯�(bi膩o)銆�
26銆�
銆愭纰虹瓟妗堛€� B
銆愮瓟妗堣В鏋愩€� 鏈鑰冩煡鐨勬槸闈滄厠(t脿i)瑭曞児鏂规硶銆傚閲忔姇璩囨敹鐩婄巼=(100-50)/(3000-2500)=10%銆�
27銆�
銆愭纰虹瓟妗堛€� A
銆愮瓟妗堣В鏋愩€� 鏈鑰冩煡鐨勬槸闈滄厠(t脿i)瑭曞児鏂规硶銆傜暥(d膩ng)?sh霉)鐜檷鑴戦毥瀹㈤】Y鏀剁泭鐜囧ぇ浜庡熀婧�(zh菙n)鎶曡硣鏀剁泭鐜囨檪锛屽墖鎶曡硣椤嶅ぇ鐨勬柟妗堝彲琛�锛屽畠琛ㄦ槑鎶曡硣鐨勫閲忓畬鍏ㄥ彲浠ョ敱缍�(j墨ng)鐕熸垚鏈殑绡€(ji茅)绱勪竴渚嗗緱鍒拌(b菙)鍎�銆�
28銆�
銆愭纰虹瓟妗堛€� B
銆愮瓟妗堣В鏋愩€� 鏈鑰冩煡鐨勬槸鍕曟厠(t脿i)瑭曞児鏂规硶銆傚湪宸ョ▼缍�(j墨ng)婵�(j矛)鍒嗘瀽涓�锛屽皪鏁堢泭鐩稿悓(鎴栧熀鏈浉鍚�)锛屼絾鏁堢泭鐒℃硶鎴栧緢闆g敤璨ㄥ梗鐩存帴瑷堥噺鐨勪簰鏂ユ柟妗堥€�(j矛n)琛屾瘮杓�锛屽父鐢ㄨ不(f猫i)鐢ㄧ従(xi脿n)鍊�(PW)姣旇純鏇夸唬鍑堢従(xi脿n)鍊奸€�(j矛n)琛岃⿻鍍广€�
29銆�
銆愭纰虹瓟妗堛€� B
銆愮瓟妗堣В鏋愩€� 鏈鑰冩煡鐨勬槸鍕曟厠(t脿i)瑭曞児鏂规硶銆傞€氶亷鐣簰鏂ユ柟妗堝噲鐝�(xi脿n)鍊煎嚱鏁�(sh霉)绀烘剰鍦栦締瑙f焙锛岀洿鎺ョ湅鍑堢従(xi脿n)鍊肩殑澶у皬锛屼笉鐢ㄨ€冩叜鎶曡硣澶у皬銆�
30銆�
銆愭纰虹瓟妗堛€� D
銆愮瓟妗堣В鏋愩€� 鏈鑰冩煡鐨勬槸鍕曟厠(t脿i)瑭曞児鏂规硶銆傛噳(y墨ng)鐢� ΔIRR 娉曡⿻鍍逛簰鏂ユ柟妗堢殑鍩烘湰姝ラ濡備笅锛�(1)瑷堢畻鍚勫倷閬告柟妗堢殑 IRRj锛屽垎鍒ヨ垏鍩烘簴(zh菙n)鏀剁泭鐜� ic姣旇純銆侷RRj灏忎簬 ic鐨勬柟妗�锛屽嵆浜堟窐姹�;(2)灏� IRRj≥ic鐨勬柟妗堟寜鍒濆鎶曡硣椤嶇敱灏忓埌澶т緷娆℃帓鍒�;(3)鎸夊垵濮嬫姇璩囬鐢卞皬鍒板ぇ渚濇瑷堢畻鐩搁劙鍏╁€嬫柟妗堢殑澧為噺鎶曡硣鍏�(n猫i)閮ㄦ敹鐩婄巼 ΔIRR锛岃嫢 ΔIRR>ic锛屽墖瑾槑鍒濆鎶曡硣椤嶅ぇ鐨勬柟妗堝劒(y艒u)浜庡垵濮嬫姇璩囬灏忕殑鏂规锛屼繚鐣欐姇璩囬澶х殑鏂规
31銆�
銆愭纰虹瓟妗堛€� C
銆愮瓟妗堣В鏋愩€� 鏈鑰冩煡鐨勬槸鐩堣櫑骞宠 鍒嗘瀽銆傜泩铏у钩琛″垎鏋愬彧閬╃敤浜庤病鍕�(w霉)瑭曞児锛屾晱鎰熸€у垎鏋愬拰棰�(f膿ng)闅垎鏋愬彲鍚屾檪鐢ㄤ簬璨″嫏(w霉)瑭曞児鍜屽湅姘戠稉(j墨ng)婵�(j矛)瑭曞児銆�
32銆�
銆愭纰虹瓟妗堛€� A
銆愮瓟妗堣В鏋愩€� 鏈鑰冩煡鐨勬槸鐩堣櫑骞宠 鍒嗘瀽銆侭EP(Q)=400\[100×(1-5%)-70]=16(钀欢);BEP(%)=16/50=32%;BEP(P)=(400/50+70)/(1-5%)=82.11(鍏�)銆�
33銆�
銆愭纰虹瓟妗堛€� A
銆愮瓟妗堣В鏋愩€� 鏈鑰冩煡鐨勬槸鏁忔劅鎬у垎鏋�銆傛晱鎰熷害绯绘暩(sh霉)(鐢�)=[(120-200)/200]/10%=-4;鏁忔劅搴︾郴鏁�(sh霉)(涔�)=[(160-200)/200]/10%=-2;鏁忔劅搴︾郴鏁�(sh霉)(涓�)=[(250-200)/200]/10%=2.5;鏁忔劅搴︾郴鏁�(sh霉)(涓�)=[(270-200)/200]/10%=3.5;绲曞皪鍊肩敳鍥犵礌鏈€澶э紝鎵€浠ョ敳鍥犵礌鐐烘渶鏁忔劅鐨勫洜绱�銆�
34銆�
銆愭纰虹瓟妗堛€� B
銆愮瓟妗堣В鏋愩€� 鏈鑰冩煡鐨勬槸鏁忔劅鎬у垎鏋�銆倈SAF|瓒婂ぇ锛岃〃鏄庤⿻鍍规寚妯�(bi膩o) A 灏嶄簬涓嶇⒑瀹氬洜绱� F 瓒婃晱鎰�;鍙嶄箣锛屽墖涓嶆晱鎰熴€�(鈻矲/F)琛ㄧず涓嶇⒑瀹氭€у洜绱� F 鐨勮畩鍖�;(鈻矨/A)琛ㄧず涓嶇⒑瀹氭€у洜绱� F 鐧�(f膩)鐢熲柍F 璁婂寲鏅�锛岃⿻鍍规寚妯�(bi膩o) A 鐩告噳(y墨ng)鐨勮畩鍖栫巼銆�
35銆�
銆愭纰虹瓟妗堛€� B
銆愮瓟妗堣В鏋愩€� 鏈鑰冩煡鐨勬槸鏁忔劅鎬у垎鏋�銆傚垎鏋愮敘(ch菐n)鍝佸児鏍兼尝鍕曞皪鎶曡硣鏂规瓒呴鍑堟敹鐩婄殑褰遍熆锛屽彲閬哥敤鐨勫垎鏋愭寚妯�(bi膩o)鏄噲鐝�(xi脿n)鍊�銆�
36銆�
銆愭纰虹瓟妗堛€� B
銆愮瓟妗堣В鏋愩€� 鏈鑰冩煡鐨勬槸鏁忔劅鎬у垎鏋�銆傛晱鎰熸€у垎鏋愪篃鏈夊叾灞€闄愭€�锛屽畠涓嶈兘瑾槑涓嶇⒑瀹氬洜绱犵櫦(f膩)鐢熻畩鍕曠殑鍙兘鎬уぇ灏�锛屼篃灏辨槸娌掓湁鑰冩叜涓嶇⒑瀹氬洜绱犲湪鏈締鐧�(f膩)鐢熻畩鍕曠殑姒傜巼锛岃€岄€欑ó姒傜巼鏄垏闋�(xi脿ng)鐩殑棰�(f膿ng)闅ぇ灏忓瘑鍒囩浉闂�(gu膩n)鐨勩€�
37銆�
銆愭纰虹瓟妗堛€� B
銆愮瓟妗堣В鏋愩€� 鏈鑰冩煡鐨勬槸棰�(f膿ng)闅垎鏋愩€傛晱鎰熸€у垎鏋愭槸鍒濇璀樺垾棰�(f膿ng)闅洜绱犵殑閲嶈鎵嬫銆�
38銆�
銆愭纰虹瓟妗堛€� A
銆愮瓟妗堣В鏋愩€� 鏈鑰冩煡鐨勬槸棰�(f膿ng)闅垎鏋�銆傜祼(ji茅)鍚堢稖鍚堥ⅷ(f膿ng)闅洜绱犵瓑绱氱殑鍒嗘瀽绲�(ji茅)鏋�锛屾噳(y墨ng)鎻愬嚭涓嬪垪鎳�(y墨ng)灏嶆柟妗堬細K 绱氾細棰�(f膿ng)闅緢寮�(qi谩ng)锛屽嚭鐝�(xi脿n)閫欓棰�(f膿ng)闅氨瑕佹斁妫勯爡(xi脿ng)鐩�;M 绱氾細棰�(f膿ng)闅挤(qi谩ng)锛屼慨姝f摤璀颁腑鐨勬柟妗�锛岄€氶亷鏀硅畩瑷�(sh猫)瑷堟垨閲囧彇瑁�(b菙)鍎熸帾鏂界瓑;T 绱氾細棰�(f膿ng)闅純寮�(qi谩ng)锛岃ō(sh猫)瀹氭煇浜涙寚妯�(bi膩o)鐨勮嚚鐣屽€�锛屾寚妯�(bi膩o)涓€鏃﹂仈(d谩)鍒拌嚚鐣屽€�锛屽氨瑕佽畩鏇磋ō(sh猫)瑷堟垨?q奴)蠅?f霉)闈㈠奖闊块噰鍙栬(b菙)鍎熸帾鏂�;R 绱氾細棰�(f膿ng)闅仼搴�(杓冨皬)閬╃暥(d膩ng)閲囧彇鎺柦鍚庝笉褰遍熆闋�(xi脿ng)鐩�;I 绱氾細棰�(f膿ng)闅急锛屽彲蹇界暐銆�
浜屻€佸闋�(xi脿ng)閬告搰椤�
1銆�
銆愭纰虹瓟妗堛€� ABC
銆愮瓟妗堣В鏋愩€� 鏈鑰冩煡鐨勬槸缍�(j墨ng)婵�(j矛)鏁堟灉瑭曞児鐨勫収(n猫i)瀹�銆傛姇璩囨柟妗堢稉(j墨ng)婵�(j矛)鏁堟灉瑭曞児鐨勫収(n猫i)瀹逛富瑕佸寘鎷泩鍒╄兘鍔涘垎鏋愩€佸劅鍌佃兘鍔涘垎鏋�銆佽病鍕�(w霉)鐢熷瓨鑳藉姏鍒嗘瀽鍜屾姉棰�(f膿ng)闅兘鍔涜⿻鍍�銆傚叾涓病鍕�(w霉)鐢熷瓨鑳藉姏鏄潪缍�(j墨ng)鐕熸€ч爡(xi脿ng)鐩病鍕�(w霉)鍒嗘瀽鐨勪富瑕佸収(n猫i)瀹�銆�
2銆�
銆愭纰虹瓟妗堛€� AE
銆愮瓟妗堣В鏋愩€� 鏈鑰冩煡鐨勬槸缍�(j墨ng)婵�(j矛)鏁堟灉瑭曞児鐨勫収(n猫i)瀹瑰拰鍩烘湰鏂规硶銆傚嫊鎱�(t脿i)瑭曞児鎸囨(bi膩o)锛氬収(n猫i)閮ㄦ敹鐩婄巼銆佸嫊鎱�(t脿i)鎶曡硣鍥炴敹鏈熴€佸噲鐝�(xi脿n)鍊�銆佸噲鐝�(xi脿n)鍊肩巼銆佸噲骞村€笺€傞潨鎱�(t脿i)瑭曞児鎸囨(bi膩o)锛氭姇璩囨敹鐩婄巼(绺芥姇璩囨敹鐩婄巼銆佽硣鏈噾鍑堝埄娼ょ巼)銆侀潨鎱�(t脿i)鎶曡硣鍥炴敹鏈�銆佸劅鍌佃兘鍔�(璩囩敘(ch菐n)璨�(f霉)鍌电巼銆佸埄鎭倷浠樼巼銆佸劅鍌靛倷浠樼巼)銆�
3銆�
銆愭纰虹瓟妗堛€� CDE
銆愮瓟妗堣В鏋愩€� 鏈鑰冩煡鐨勬槸鍎熷偟鑳藉姏鎸囨(bi膩o)銆傚劅鍌佃兘鍔涙寚妯�(bi膩o)鏈夛細璩囩敘(ch菐n)璨�(f霉)鍌电巼銆佸埄鎭倷浠樼巼銆佸劅鍌靛倷浠樼巼銆�
4銆�
銆愭纰虹瓟妗堛€� AD
銆愮瓟妗堣В鏋愩€� 鏈鑰冩煡鐨勬槸鍑堢従(xi脿n)鍊艰垏鍑堝勾鍊�銆傛姇璩囨敹鐩婄巼鍦ㄤ竴瀹氱▼搴︿笂鍙嶆槧浜嗘姇璩囨晥鏋滅殑鍎�(y艒u)鍔�锛岄爡(xi脿ng)鐩収(n猫i)閮ㄦ敹鐩婄巼鍜屽噲鐝�(xi脿n)鍊煎弽鏄犱簡鍏ㄩ儴鎶曡硣鐨勬敹鐩婅兘鍔�锛岃€冩叜浜嗘暣鍊嬭▓绠楁湡鐨勭稉(j墨ng)婵�(j矛)鐙€娉�銆�
5銆�
銆愭纰虹瓟妗堛€� ABDE
銆愮瓟妗堣В鏋愩€� 鏈鑰冩煡鐨勬槸鍑堢従(xi脿n)鍊笺€傚噲鐝�(xi脿n)鍊肩殑澶у皬鍙楁姌鐝�(xi脿n)鐜囩殑褰遍熆銆�
6銆�
銆愭纰虹瓟妗堛€� AD
銆愮瓟妗堣В鏋愩€� 鏈鑰冩煡鐨勬槸鍑堢従(xi脿n)鍊艰垏鍑堝勾鍊�銆傝硣閲戞垚鏈拰姗�(j墨)鏈冩垚鏈槸纰哄畾鍩烘簴(zh菙n)鏀剁泭鐜囩殑鍩虹(ch菙)锛屾姇璩囬ⅷ(f膿ng)闅拰閫氳波鑶ㄨ劰鏄⒑瀹氬熀婧�(zh菙n)鏀剁泭鐜囧繀闋堣€冩叜鐨勫奖闊垮洜绱�銆�
7銆�
銆愭纰虹瓟妗堛€� AC
銆愮瓟妗堣В鏋愩€� 鏈鑰冩煡鐨勬槸鍏�(n猫i)閮ㄦ敹鐩婄巼銆傞伕闋�(xi脿ng) B 閷锛屽収(n猫i)閮ㄦ敹鐩婄巼鐨勮▓绠椾笉闇€瑕佺⒑瀹氬熀婧�(zh菙n)鏀剁泭鐜�;閬搁爡(xi脿ng) D 閷锛屽収(n猫i)閮ㄦ敹鐩婄巼鐨勮⿻鍍规簴(zh菙n)鍓囨槸 IRR≥ic鏅傛柟妗堝彲琛�;閬搁爡(xi脿ng) E 閷锛屽収(n猫i)閮ㄦ敹鐩婄巼瀹规槗琚汉瑾よВ鐐烘槸闋�(xi脿ng)鐩垵鏈熸姇璩囩殑鏀剁泭鐜�銆備簨瀵�(sh铆)涓婏紝鍏�(n猫i)閮ㄦ敹鐩婄巼鐨勭稉(j墨ng)婵�(j矛)鍚京鏄姇璩囨柟妗堝崰鐢ㄧ殑灏氭湭鍥炴敹璩囬噾鐨勭嵅鍒╄兘鍔�锛屽畠鍙栨焙浜庨爡(xi脿ng)鐩収(n猫i)閮ㄣ€�
8銆�
銆愭纰虹瓟妗堛€� BCE
銆愮瓟妗堣В鏋愩€� 鏈鑰冩煡鐨勬槸闈滄厠(t脿i)瑭曞児鏂规硶?锛涖偝澶ユ〃鑳硂鎱�(t脿i)鍒嗘瀽甯哥敤澧為噺鎶曡硣鏀剁泭鐜囥€佸閲忔姇璩囧洖鏀舵湡銆佸勾鎶樼畻璨�(f猫i)鐢ㄣ€佺稖鍚堢附璨�(f猫i)鐢ㄧ瓑瑭曞児鏂规硶閫�(j矛n)琛岀浉灏嶇稉(j墨ng)婵�(j矛)鏁堟灉鐨勮⿻鍍�銆�
9銆�
銆愭纰虹瓟妗堛€� ADE
銆愮瓟妗堣В鏋愩€� 鏈鑰冩煡鐨勬槸鍕曟厠(t脿i)瑭曞児鏂规硶銆傚噲鐝�(xi脿n)鍊�(NPV≥0)锛岄伕鎿囧噲鐝�(xi脿n)鍊兼渶澶х殑鏂规鐐烘渶浣虫柟妗�;澧為噺鎶曡硣鍏�(n猫i)閮ㄦ敹鐩婄巼澶т簬鍩烘簴(zh菙n)鏀剁泭鐜囨檪锛屽墖瑾槑鍒濆鎶曡硣椤嶅ぇ鐨勬柟妗堝劒(y艒u)浜庡垵濮嬫姇璩囬灏忕殑鏂规锛屼繚鐣欐姇璩囬澶х殑鏂规;鍑堝勾鍊�(NAV)鑸囧噲鐝�(xi脿n)鍊艰⿻鍍规槸绛夊児鐨�銆�
10銆�
銆愭纰虹瓟妗堛€� BCD
銆愮瓟妗堣В鏋愩€� 鏈鑰冩煡鐨勬槸鐩堣櫑骞宠 鍒嗘瀽銆傜窔鎬х泩铏у钩琛″垎鏋愮殑鍓嶆彁姊濅欢锛�(1)鐢熺敘(ch菐n)閲忕瓑浜庨姺鍞噺;(2)鐢熺敘(ch菐n)閲忚畩鍖�锛屽柈浣嶅彲璁婃垚鏈笉璁婏紝寰炶€屼娇绺界敓鐢�(ch菐n)鎴愭湰鎴愮偤鐢熺敘(ch菐n)閲忕殑绶氭€у嚱鏁�(sh霉);(3)鐢熺敘(ch菐n)閲忚畩鍖�锛岄姺鍞柈鍍逛笉璁�锛屽緸鑰屼娇閵峰敭鏀跺叆鎴愮偤閵峰敭閲忕殑绶氭€у嚱鏁�(sh霉);(4)鍙敓鐢�(ch菐n)鍠竴鐢�(ch菐n)鍝�;鎴栬€呯敓鐢�(ch菐n)澶氱ó鐢�(ch菐n)鍝�锛屼絾鍙互鎻涚畻鐐哄柈涓€鐢�(ch菐n)鍝佽▓绠�銆�
浠ヤ笂灏辨槸灏忕法鏁寸悊鐨�“2020涓€绱氶€犲児甯€婇€犲児绠$悊銆嬬珷绡€(ji茅)缈�(x铆)椤岋細绗洓绔犵浜岀瘈(ji茅)”锛屼緵鑰冪敓鍙冭€�銆傚倷鑰冭€冪敓鍙互榛�(di菐n)鎿婁笅鏂�“鍏嶈不(f猫i)涓嬭級”鎸夐垥锛屽厤璨�(f猫i)闋�(l菒ng)鍙栦竴绱氶€犲児宸ョ▼甯�姝峰勾鐪熼銆佹ā鎿│椤�鍜岀挵(hu谩n)鐞冪恫(w菐ng)鏍″厤璨�(f猫i)寰�(f霉)缈�(x铆)璩囨枡銆�
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