成本與管理會計學國立政治大學 2025 第 6b 題

Part 3: Financial Analysis

The following data is provided for evaluating one of your proposed innovations - the "AI Learning Companion" project (part of Martin Toy Company's innovation strategy for 2025-2030, see background in the preceding question):

Project Data (2025-2027):

Initial Costs
- Platform development cost: $2.5 million
- Marketing and launch cost: $0.8 million
Subscription revenue: $15/month per user received at the end of each month
Operating cost: $5/month per user paid at the beginning of each month
Required rate of return: 12%
Discount factors:

Table 1: Present Value of 1

Rate(r)	1 yr	2 yrs	3 yrs	4 yrs	5 yrs
10%	0.909	0.826	0.751	0.683	0.621
11%	0.901	0.812	0.731	0.659	0.593
12%	0.893	0.797	0.712	0.636	0.567
13%	0.885	0.783	0.693	0.613	0.543
14%	0.877	0.769	0.675	0.592	0.519

Table 2: Present Value of an Ordinary Annuity of 1

Rate(r)	1 yr	2 yrs	3 yrs	4 yrs	5 yrs
10%	0.909	1.736	2.487	3.170	3.791
11%	0.901	1.713	2.444	3.102	3.696
12%	0.893	1.690	2.402	3.037	3.605
13%	0.885	1.668	2.361	2.974	3.517
14%	0.877	1.647	2.322	2.914	3.433

Table 3: Present Value of an Annuity Due of 1

Rate(r)	1 yr	2 yrs	3 yrs	4 yrs	5 yrs
10%	1.000	1.909	2.736	3.487	4.170
11%	1.000	1.901	2.713	3.444	4.102
12%	1.000	1.893	2.690	3.402	4.037
13%	1.000	1.885	2.668	3.361	3.974
14%	1.000	1.877	2.647	3.322	3.914

Table 4: Subscription Forecasts

Scenario	Pessimistic (25%)	Realistic (50%)	Optimistic (25%)
Year 1	10,000	20,000	35,000
Year 2	15,000	30,000	50,000
Year 3	20,000	40,000	70,000

Required:

Calculate the expected NPV of the AI Learning Companion project and evaluate its feasibility (10%)
Evaluate how this project supports Martin's digital transformation strategy (4%)

Part 3: Financial Analysis

Table 1: Present Value of 1

Table 2: Present Value of an Ordinary Annuity of 1

Table 3: Present Value of an Annuity Due of 1

Table 4: Subscription Forecasts

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