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In: AccountingCASE STUDY FINANCIALVIABILITY INDICATORSKulula Ltd has been incorporated asan investment advisory company. The...CASE STUDY FINANCIALVIABILITY INDICATORSKulula Ltd has been incorporated asan investment advisory company. The company sources for consultingservices in investment appraisal and company valuation. You haverecently joined the company as an investment analyst. You have beenassigned to conduct an investment appraisal of two projects that aclient is considering investing in. The two projects are tomatogrowing using drip irrigation and the second project is keepinglayers for egg production. The initial investment required for eachproject is ZMW 15,000,000 to be invested in plant and machinery.The two projects are mutually exclusive meaning that only one canbe undertaken and not both.The client has indicated that theycan only accept an investment that meets at leastthe following conditions:Payback period of not more than 2 years.Internal rate of return greater than 50%Details of the project cash flowsand other information are as follows:Cash flows:ProjectTomato GrowingProjectChicken LayersYearZMW'000YearZMW'000Outlay Year 0(15,000)Outlay Year 0(15,000)16,00016,00025,00029,000311,000312,000415,000415,000520,00059,000DepreciationPolicyThe depreciation policy for theplant and machinery is straight line over 5 years with no residualvalue.Cost of CapitalThe weighted average cost of capitalis 25%.Required:Using MicrosoftExcel, you are required to:Calculate the following financial viability indicatorsfor each project:a) Normal payback period 10 marksb) Dynamic payback period 10 marksc) Net Present 10 marksd) Profitability index or Net PresentValue Ratio5 markse) Internal Rate of return 10 marksf) Accounting rate of return 10 marksPrepare a report to the client with a recommendation asto which of the two projects you recommend that the clientundertakes with justification. 15marksTotal marks = 70 marks