2)生产线变现收益纳税=【1500-(4000-950*3)】*0.25=350*0.25=87.5万 3)丧失租金税后收入=200*0.75=150万 4) NCFO=-4000-150=-4150 5) Ncf1=-150-1200=-1350 6)ncf2=【6000*(1-60%)-400】*0.75%2B237.5-150=1587.5 7)ncf3=【6000*(1%2B5%)*(1-60%)-500】*0.75%2B237.5-150=1602.5 8)ncf4=【6000*(1%2B5%)^2*(1-60%)-600】*0.75%2B237.5%2B1200%2B1500-87.5-150=4234.5 9)NPV=-4150-1350*(p/f,8%,1)%2B1587.5*(p/f,8%,2)%2B1602.5*(p/f,8%,3)%2B4234.5*(p/f,8%,4)=345.63万 10)因为净现值大于零,所以该方案值得投资。