甲方案折旧=20000/5=4000 各年的现金流量 NCF0=-20000 NCF1-5=(8000-3000)*0.75+4000*0.25=4750 乙方案折旧=(24000-4000)/5=4000 NCF0=-24000-3000=-27000 NCF1=(10000-4000)*0.75+4000*0.25=5500 NCF2=(10000-4000-200)*0.75+4000*0.25=5350 NCF3=(10000-4000-200*2)*0.75+4000*0.25=5200 NCF4=(10000-4000-200*3)*0.75+4000*0.25=5050 NCF5=(10000-4000-200*4)*0.75+4000*0.25+3000+4000=11900