Investment projects should never be selected through purely mechanical processes. Managers should ask questions about the positive net present value (NPV). Good managers realize that the forecasts behind NPV calculations are imperfect. Therefore, they explore the consequences of a poor forecast and check whether it is worth doing more homework. They use several different tools and analysis techniques to answer their “what-if” questions.

In addition, managers should consider the types of bias, both unintentional and intentional, that may enter into the capital budgeting analysis.  As part of this assignment, you will examine the potential motivation for unethical behavior by executives that may take place in the capital budgeting process and explain how biasing cash-flow estimates can work to the advantage of the executive who intentionally inserts such bias.

Assume that you are employed by a wood milling company that is evaluating the desirability of adding a new product to their product mix.  The product would require the addition of new and different CNC (computer numerical control) milling equipment.  Your boss has asked you to analyze a project proposal and recommend whether the project should be accepted or rejected.  The most likely project estimates are:  

• Unit selling price =  $50
• Unit variable cost =  $30
• Total fixed costs including depreciation =  $300,000
• Expected sales =  30,000 units per year

The projects will last for 10 years and will require an initial investment of $1 million, which will be depreciated straight-line over the project life to a final value of zero.  The firm’s tax rate is 35% and the required rate of return is 12%.

Your boss recognizes that some of these estimates are subject to error and wants to better understand the risks associated with the project and alternatives for dealing with those risks.  You have been asked to include a sensitivity analysis in your report.  You are also to explain how changing the discount rate might be helpful.

Your boss has heard about cash flow estimates being biased for personal gain at the company’s expense in another firm and would like to better understand that potential problem.  You have been asked to address that in your report.

The team developing the proposal estimated that variable cost and sales volume may each turn out to be as much as 10% higher or 10% lower than the initial estimate. To complete this assignment, you are to  submit  a four to five page paper  that includes the following:

Using MS Excel:

• Calculate the project’s NPV for the most likely results.
• Calculate the project’s NPV for the best-case scenario.
• Calculate the project’s NPV for the worst-case scenario.
• Calculate the project IRR for the most likely results.

You will transfer your calculations into your final report. In a 4-5 page paper in MS Word:

• Exhibit your Excel function entries and results, or your calculations using present value tables, for each of your NPV and IRR calculations (A-D) and provide an explanation  of all calculations
• Explain your recommendation regarding whether the project should be accepted and a justification of your response.
• Provide an explanation of how adjusting the discount rate in the basic NPV model of capital budgeting deals with the problem of project risk.
• Examine the potential motivation for unethical behavior by executives that may take place in the capital budgeting process and explain how biasing cash-flow estimates can work to the advantage of the executive who intentionally inserts such bias.   

The paper must be submitted as a Word document and it must follow APA style guidelines.

Formal Proposal.  Please see the attached fileIt has to be a minimum of 7 pages

Write 100 words within the Discussion Board responding to the following questions. Create a substantive and clear post expressing your research, thoughts, and ideas:

    Have you ever experienced living in a socialist or communist society?
    If so, explain your experience.
    If not, share how do you view or imagine a socialist or communist society?  Would you want to live there?  Why or why not?

Must be orginal and non plagarized in APA format

1. Ancient Africa, Europe, and America Essay Question: This course began with an exploration of African, Native American, and European cultures. Why is it important for courses in U.S. history to begin here? How does studying the histories of these three parts of the world help you to understand their later contributions to American history? Considerations: – origins of humans in Africa – the rich cultures of Africa and early North America – religious, political, and economic changes in early modern Europe – the long-term impact of the Columbian Exchange 2. Colonization in Early America Essay Question: Although ultimately part of a common colonial system, early English settlements in the Chesapeake region were significantly different from those of Puritan New England. What features distinguished settlements in these two regions during the seventeenth century, what did they have in common, and what was the nature of the relationship between them? Considerations: -environmental characteristics, motivations for settlement, and economic differences -social patterns and changes in population -the character of village life and religious beliefs -relationships with Native Americans -the beginnings of slavery Readings: Ch. 2-4 3. Eighteenth-Century Colonial Society Essay Question:3 Much more than a religious revival, the Great Awakening influenced patterns of thought and behavior among many different groups in colonial America, often in unintended ways. Discuss the social and political effects of the Great Awakening, including its impact in urban New England, in the rural South, and among both white and black populations. Considerations: -the growth of thoughts and behaviors that threatened established authority -the ability of the Great Awakening to cross regional, racial, and class divisions -the different ways in which the religious revival was experienced by different groups -the relationship of the Great Awakening to the Enlightenment Readings: Ch. 4 4. The Revolutionary Era Essay Question: How “revolutionary” was the American Revolution? Did the Revolution truly change social and economic relationships in American society, or did it essentially preserve them? In your discussion, include the effects of the Revolution on male and female patriots, slaves, free blacks, Loyalists, and Native Americans. Considerations: -the causes of the American Revolution and divergent understandings of its meaning -the social groups that led the Revolution -the participation of women in the Revolution -the roles of slaves and free blacks on both sides of the conflict -political changes resulting from the separation of the United States from Britain Readings: Ch. 5-6 5. A Post-Revolutionary People Essay Question: How does the U.S. Constitution reflect the political and economic atmosphere of the United States in the late eighteenth century? What domestic and international concerns prompted the Constitutional Convention of 1787, how were these addressed by the debates of the framers, and to what extent did the final document successfully meet the political challenges of the period? Considerations: -weaknesses of the Articles of Confederation -arguments for and against strengthening the federal government -the international vulnerability of the new nation

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