年5的税后现金流计算如下：
税后现金流，年5 = (年度税后现金流) + (残值) – (残值的税)
残值的税= (残值)(税率) = ($50,000)(0.4) = $20,000
税后现金流，年5 = ($350,000) + ($50,000) – ($20,000) = $380,000
这个项目的净现值(NPV)计算如下：
项目的NPV= (初始投资) + (未来现金流的总和)= (-$550,000) – ($500,000)(0.877，PVi=14, n=1) + ($450,000)(0.769， PVi=14, n=2) + ($350,000)(0.675，PVi=14, n=3) + ($350,000)(0.592，PVi=14, n=4) + ($380,000)(0.519，PVi=14, n=5)= (-$550,000) + (-$438,500) + $346,050 + $236,250 + $207,200 + $197,220 = -$1,780 |
