Cornerstones of Cost Management (Cornerstones Series)
4th Edition
ISBN:9781305970663
Author:Don R. Hansen, Maryanne M. Mowen
Publisher:Don R. Hansen, Maryanne M. Mowen
Chapter19: Capital Investment
Section: Chapter Questions
Problem 4CE: Manzer Enterprises is considering two independent investments: A new automated materials handling...
Related questions
Question
100%
The first 3 parts of this question have been answered.
Need help with the last two:
4.A. & 4.B
![Casey Nelson is a divisional manager for Pigeon Company. His annual pay raises are largely determined by his division's return on
investment (ROI), which has been above 22% each of the last three years. Casey is considering a capital budgeting project that
would require a $3,800,000 investment in equipment with a useful life of five years and no salvage value. Pigeon Company's
discount rate is 18%. The project would provide net operating income each year for five years as follows:
Sales
Variable expenses
Contribution margin
Fixed expenses:
Advertising, salaries, and other
fixed out-of-pocket costs
Depreciation
Total fixed expenses
Net operating income
Click here to view Exhibit 7B-1 and Exhibit 7B-2, to determine the appropriate discount factor(s) using tables.
Required:
1. What is the project's net present value?
2. What is the project's internal rate of return to the nearest whole percent?
3. What is the project's simple rate of return?
2
3
4
5
6
7
8
4-a. Would the company want Casey to pursue this investment opportunity?
4-b. Would Casey be inclined to pursue this investment opportunity?
9
EXHIBIT 78-1 Present Value of $1
7B-1
25%
1
Periods 4% 5% 6%
7% 8% 9% 10% 11% 12% 13% 14% 15% 16% 17% 18% 19% 20% 21% 22% 23% 24%
0.962 0.952 0943 0.935 0.926 0.917 0.909 0.901 0.893 0.885 0.877 0.870 0.862 0.855 0.847 0.840 0833 0826 0.820 0813 0.806 0.800
0.925 0907 0.890 0.873 0.857 0.842 0826 0.812 0.797 0.783 0.769 0756 0.743 0731 0.718 0.706 0694 0683 0.672 0661 0.650 0.640
0.889 0.864 0.840 0.816 0.794 0.772 0751 0.731 0.712 0.693 0.675 0.658 0.641 0.624 0.609 0.593 0.579 0.564 0.551 0.537 0.524 0.512
0.855 0.823 0.792 0.763 0.735 0.708 0683 0.659 0.636 0.613 0.592 0.572 0.552 0534 0.516 0.499 0.482 0.467 0.451 0.437 0.423 0.410
0.822 0784 0.747 0.713 0681 0.650 0621 0.593 0.567 0.543 0.519 0.497 0.476 0.456 0.437 0.419 0.402 0.386 0.370 0.355 0.341 0.328
0.790 0746 0.705 0.666 0.630 0.596 0.564 0535 0507 0.480 0.456 0432 0410 0.390 0.370 0352 0.335 0.319 0303 0.289 0.275 0.262
0.760 0.711 0.665 0.623 0.583 0.547 0.513 0.482 0.452 0.425 0.400 0.376 0.354 0.333 0.314 0.296 0.279 0.263 0.249 0235 0.222 0.210
0.731 0.677 0.627 0.582 0.540 0.502 0.467 0.434 0.404 0.376 0.351 0.327 0.305 0.285 0.266 0.249 0233 0.218 0.204 0.191 0.179 0.168
0.703 0.645 0.592 0.544 0.500 0.460 0424 0.391 0.361 0.333 0.308 0.284 0.263 0.243 0.225 0.209 0194 0180 0167 0155 0.144 0.134
0.676 0.614 0.558 0.508 0.463 0.422 0.386 0.352 0.322 0.295 0.270 0247 0.227 0.208 0191 0176 0162 0149 0137 0.126 0.116 0107
10
11
12
13
14
15
16
17
18
$730,000
760,000
19
20
$3,700,000
1,720,000
1,980,000
21
22
23
24
25
1,490,000
$ 490,000
3
4
5
0.650 0.585 0.527 0.475 0.429 0.388 0.350 0.317 0.287 0.261 0.237 0.215 0.195 0.178 0.162 0.148 0135 0123 0112 0.103 0.094 0.086
0.625 0.557 0.497 0.444 0.397 0.356 0.319 0.286 0.257 0.231 0.208 0187 0.168 0152 0.137 0124 0112 0102 0.092 0.083 0.076 0.069
0.601 0.530 0.469 0.415 0.368 0.326 0.290 0.258 0.229 0.204 0.182 0163 0.145 0130 0.116 0.104 0.093 0.084 0.075 0.068 0.061 0.055
0.577 0.505 0.442 0.388 0.340 0.299 0263 0232 0205 0181 0160 0141 0.125 0111 0099 0.088 0.078 0.069 0.062 0.055 0.049 0.044
0.555 0.481 0.417 0.362 0.315 0.275 0.239 0209 0183 0160 0140 0123 0108 0.095 0084 0.074 0.065 0.057 0.051 0.045 0.040 0.035
0.534 0.458 0.394 0.339 0.292 0.252 0218 0188 0.163 0.141 0123 0107 0.093 0.081 0.071 0.062 0.054 0.047 0.042 0.036 0.032 0.028
0.513 0.436 0.371 0.317 0.270 0.231 0198 0170 0146 0.125 0.108 0.093 0.080 0.069 0.060 0.052 0.045 0.039 0.034 0.030 0.026 0.023
0.494 0.416 0.350 0.296 0.250 0.212 0.180 0153 0130 0.111 0.095 0.081 0.069 0.059 0.051 0.044 0.038 0.032 0.028 0.024 0.021 0.018
0.475 0.396 0.331 0.277 0232 0.194 0164 0138 0.116 0.098 0.083 0.070 0.060 0.051 0.043 0.037 0.031 0.027 0.023 0.020 0.017 0.014
0.456 0.377 0.312 0.258 0.215 0.178 0149 0124 0104 0.087 0.073 0.061 0.051 0.043 0.037 0.031 0.026 0.022 0.019 0016 0.014 0.012
0.439 0.359 0.294 0242 0199 0.164 0135 0112 0.093 0.077 0.064 0.053 0.044 0.037 0.031 0.026 0.022 0.018 0.015 0.013 0.011 0.009
0.422 0342 0.278 0.226 0184 0.150 0123 0101 0.083 0.068 0.056 0.046 0.038 0.032 0.026 0.022 0.018 0.015 0.013 0.011 0.009 0.007
0.406 0.326 0.262 0.211 0170 0.138 0112 0.091 0.074 0.060 0.049 0.040 0.033 0.027 0.022 0.018 0.015 0.012 0010 0.009 0.007 0.006
0.390 0310 0.247 0197 0158 0.126 0102 0.082 0066 0.053 0043 0.035 0.028 0.023 0.019 0.015 0.013 0010 0.008 0.007 0.006 0.005
0.375 0.295 0.233 0184 0146 0116 0092 0.074 0.059 0.047 0.038 0.030 0.024 0.020 0016 0.013 0010 0.009 0.007 0.006 0.005 0.004
26
0.361 0281 0.220 0172 0135 0.106 0.084 0.066 0.053 0.042 0.033 0.026 0.021 0.017 0.014 0.011 0.009 0.007 0.006 0.005 0.004 0.003
27
0.347 0268 0.207 0161 0125 0.098 0.076 0.060 0047 0.037 0.029 0023 0.018 0.014 0.011 0.009 0.007 0.006 0.005 0.004 0.003 0.002
28 0.333 0255 0196 0.150 0.116 0.090 0.069 0.054 0.042 0.033 0.026 0.020 0016 0.012 0010 0.008 0.006 0.005 0.004 0.003 0.002 0.002
29 0.321 0243 0185 0.141 0107 0.082 0.063 0048 0.037 0.029 0022 0.017 0.014 0.011 0.008 0.006 0.005 0004 0.003 0.002 0.002 0.002
30 0.308 0231 0174 0131 0.099 0.075 0.057 0.044 0.033 0.026 0.020 0.015 0012 0.009 0.007 0.005 0.004 0.003 0.003 0.002 0.002 0.001
EXHIBIT 78-2 Present Value of an Annuity of $1 in Arrears: [1] 7B-2
2
Periods 4% 5% 6% 7% 8% 9% 10% 11% 12% 13 % 14 % 15% 16%
16% 17% 18% 19% 20% 21% 22% 23% 24% 25%
1 0.962 0.952 0943 0935 0.926 0917 0.909 0.901 0.893 0.885 0877 0.870 0.862 0.855 0.847 0.840 0.833 0826 0.820 0813 0.806 0.800
1.886 1859 1833 1808 1783 1759 1736 1713 1690 1668 1647 1626 1605 1585 1566 1547 1528 1509 1492 1474 1457 1440
2322 2283 2246 2210 2174 2140 2106 2074 2042 2011 1981 1952
2.914 2.855 2798 2.743 2690 2.639 2.589 2.540 2494 2.448 2.404 2362
3.433 3.352 3.274 3199 3127 3.058 2.991 2.926 2864 2.803 2745 2689
2.775 2.723 2.673 2624 2577 2531 2.487 2444 2.402 2.361
3.630 3.546 3.465 3.387 3.312 3240 3170 3102 3.037 2.974
4.452 4.329 4.212 4100 3.993 3.890 3.791 3.696 3.605 3.517
6 5.242 5076 4.917 4767 4623 4486 4355 4231 4111 3.998 3.889 3784 3685 3.589 3.498 3410 3.326 3245 3167 3.092 3.020 2.951
7 6.002 5.786 5.582 5.389 5.206 5.033 4868 4712 4564 4.423
4288 4160 4039 3.922 3.812 3706 3.605 3.508 3.416 3.327 3.242 3161
8 6.733 6.463 6.210 5.971 5.747 5.535 5.335 5.146 4.968 4.799 4639 4.487 4344 4.207 4078 3.954 3.837 3.726 3.619 3.518 3.421 3.329
9 7435 7108 6 802 6515 6247
6.247 5.995 5.759 5.537 5.328 5132 4946 4772 4.607 4.451 4.303 4163 4.031 3.905 3.786 3.673 3.566 3.463
10 8.111 7722 7.360 7024 6.710 6.418 6145 5.889 5.650 5.426 5.216 5.019 4833 4.659 4494 4339 4192 4054 3.923 3799 3.682 3571
15
16
11 8.760 8.306 7.887 7.499 7139 6.805 6.495 6.207 5.938 5.687 5.453 5.234 5.029 4.836 4656 4.486 4.327 4177 4.035 3.902 3.776 3656
12 9.385 8863 8.384 7943 7536 7161 6.814 6.492 6194 5.918 5.660 5.421 5197 4.988 4793 4611 4.439 4278 4.127 3.985 3.851 3725
13 9.986 9.394 8.853 8.358 7904 7487 7103 6.750 6.424 6122 5.842 5583 5.342 5.118 4.910 4715 4.533 4.362 4203 4053 3.912 3.780
14
10.563 9.899 9.295 8.745 8.244 7786 7.367 6.982 6.628 6.302 6.002 5.724 5.468 5.229 5.008 4.802 4.611 4.432 4.265 4108 3.962 3824
11.118 10.380 9.712 9108 8.559 8061 7606 7191 6.811 6.462 6142 5.847 5.575 5.324 5.092 4876 4.675 4.489 4.315 4153 4.001 3859
11652 10 838 10.106 9447 8.851 8.313 7824 7379 6.974 6.604 6.265 5.954 5.668 5.405 5162 4.938 4730 4536 4.357 4189 4.033 3.887
17 12.166 11.274 10.477 9763 9122 8.544 8.022 7549 7120 6.729 6.373 6.047 5.749 5.475 5.222 4.990 4775 4.576 4.391 4219 4.059 3.910
18 12.659 11.690 10.828 10.059 9.372 8756 8201 7702 7.250 6.840 6.467 6128 5.818 5.534 5.273 5.033 4.812 4608 4.419 4243 4.080 3.928
19 13134 12.085 11158 10.336 9.604 8.950 8.365 7839 7366 6.938 6.550 6.198 5.877 5.584 5.316 5.070 4.843 4635 4.442 4263 4.097 3942
20 13.590 12.462 11.470 10.594 9.818 9129 8.514 7.963 7.469 7.025 6.623 6.259 5.929 5.628 5.353 5101 4.870 4657 4.460 4279 4.110 3.954
21 14.029 12.821 11.764 10.836 10.017 9.292 8.649 8.075 7562 7102 6.687 6.312 5.973 5.665 5.384 5.127 4.891 4675 4.476 4292 4.121 3.963
22 14.451 13.163 12.042 11.061 10.201 9442 8.772 8176 7645 7170 6.743 6.359 6.011 5.696 5410 5.149 4.909 4.690 4.488 4.302 4.130 3.970
23 14.857 13.489 12.303 11.272 10.371 9.580 8.883 8.266 7718 7230 6.792 6.399 6.044 5.723 5.432 5.167 4.925 4703 4.499 4.311 4.137 3.976
24 15.247 13.799 12.550 11.469 10.529 9707 8.585 8.348 7784 7283 6.835 6.434 6.073 5.746 5.451 5.182 4.937 4713 4.507 4318 4.143 3.981
25 15.622 14.094 12.783 11.654 10.675 9823 9.077 8.422 7843 7330 6.873 6.464 6.097 5.766 5.467 5.195 4.948 4721 4.514 4.323 4147 3.985
15.983 14.375 13.003 11.826 10.810 9.929 9161 8.488 7896 7372 6.906 6.491 6.118 5.783 5.480 5.206 4.956 4728 4520 4.328 4.151 3.988
6.935 6.514 6136 5.798 5.492 5.215 4.964 4734 4.524 4332 4.154 3.990
26
27 16.330 14.643 13.211 11.987 10.935 10.027 9.237 8.548 7943 7.409
28
16.663 14.898 13.406 12137 11051 10.116 9.307 8.602 7984 7441 6.961 6534 6152 5.810 5.502 5.223 4.970 4739 4528 4335 4157 3.992
29 16.984 15.141 13.591 12.278 11.158 10.198 9.370 8.650 8.022 7470 6.983 6.551 6166 5.820 5.510 5.229 4.975 4743 4.531 4.337 4.159 3.994
30 17.292 15.372 13.765 12.409 11.258 10.274 9.427 8.694 8.055 7496 7003 6.566 6177 5.829 5.517 5.235 4.979 4746 4534 4339 4.160 3.995
40 19.793 17159 15.046 13.332 11.925 10.757 9779 8.951 8.244 7634 7105 6.642 6233 5.871 5.548 5.258 4.997 4760 4544 4347 4166 3.999](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F5d7c6df9-9072-40bc-ad85-7ace55fd8504%2Fd5048f9b-0223-4775-a601-54203469facf%2F26wk5fm_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Casey Nelson is a divisional manager for Pigeon Company. His annual pay raises are largely determined by his division's return on
investment (ROI), which has been above 22% each of the last three years. Casey is considering a capital budgeting project that
would require a $3,800,000 investment in equipment with a useful life of five years and no salvage value. Pigeon Company's
discount rate is 18%. The project would provide net operating income each year for five years as follows:
Sales
Variable expenses
Contribution margin
Fixed expenses:
Advertising, salaries, and other
fixed out-of-pocket costs
Depreciation
Total fixed expenses
Net operating income
Click here to view Exhibit 7B-1 and Exhibit 7B-2, to determine the appropriate discount factor(s) using tables.
Required:
1. What is the project's net present value?
2. What is the project's internal rate of return to the nearest whole percent?
3. What is the project's simple rate of return?
2
3
4
5
6
7
8
4-a. Would the company want Casey to pursue this investment opportunity?
4-b. Would Casey be inclined to pursue this investment opportunity?
9
EXHIBIT 78-1 Present Value of $1
7B-1
25%
1
Periods 4% 5% 6%
7% 8% 9% 10% 11% 12% 13% 14% 15% 16% 17% 18% 19% 20% 21% 22% 23% 24%
0.962 0.952 0943 0.935 0.926 0.917 0.909 0.901 0.893 0.885 0.877 0.870 0.862 0.855 0.847 0.840 0833 0826 0.820 0813 0.806 0.800
0.925 0907 0.890 0.873 0.857 0.842 0826 0.812 0.797 0.783 0.769 0756 0.743 0731 0.718 0.706 0694 0683 0.672 0661 0.650 0.640
0.889 0.864 0.840 0.816 0.794 0.772 0751 0.731 0.712 0.693 0.675 0.658 0.641 0.624 0.609 0.593 0.579 0.564 0.551 0.537 0.524 0.512
0.855 0.823 0.792 0.763 0.735 0.708 0683 0.659 0.636 0.613 0.592 0.572 0.552 0534 0.516 0.499 0.482 0.467 0.451 0.437 0.423 0.410
0.822 0784 0.747 0.713 0681 0.650 0621 0.593 0.567 0.543 0.519 0.497 0.476 0.456 0.437 0.419 0.402 0.386 0.370 0.355 0.341 0.328
0.790 0746 0.705 0.666 0.630 0.596 0.564 0535 0507 0.480 0.456 0432 0410 0.390 0.370 0352 0.335 0.319 0303 0.289 0.275 0.262
0.760 0.711 0.665 0.623 0.583 0.547 0.513 0.482 0.452 0.425 0.400 0.376 0.354 0.333 0.314 0.296 0.279 0.263 0.249 0235 0.222 0.210
0.731 0.677 0.627 0.582 0.540 0.502 0.467 0.434 0.404 0.376 0.351 0.327 0.305 0.285 0.266 0.249 0233 0.218 0.204 0.191 0.179 0.168
0.703 0.645 0.592 0.544 0.500 0.460 0424 0.391 0.361 0.333 0.308 0.284 0.263 0.243 0.225 0.209 0194 0180 0167 0155 0.144 0.134
0.676 0.614 0.558 0.508 0.463 0.422 0.386 0.352 0.322 0.295 0.270 0247 0.227 0.208 0191 0176 0162 0149 0137 0.126 0.116 0107
10
11
12
13
14
15
16
17
18
$730,000
760,000
19
20
$3,700,000
1,720,000
1,980,000
21
22
23
24
25
1,490,000
$ 490,000
3
4
5
0.650 0.585 0.527 0.475 0.429 0.388 0.350 0.317 0.287 0.261 0.237 0.215 0.195 0.178 0.162 0.148 0135 0123 0112 0.103 0.094 0.086
0.625 0.557 0.497 0.444 0.397 0.356 0.319 0.286 0.257 0.231 0.208 0187 0.168 0152 0.137 0124 0112 0102 0.092 0.083 0.076 0.069
0.601 0.530 0.469 0.415 0.368 0.326 0.290 0.258 0.229 0.204 0.182 0163 0.145 0130 0.116 0.104 0.093 0.084 0.075 0.068 0.061 0.055
0.577 0.505 0.442 0.388 0.340 0.299 0263 0232 0205 0181 0160 0141 0.125 0111 0099 0.088 0.078 0.069 0.062 0.055 0.049 0.044
0.555 0.481 0.417 0.362 0.315 0.275 0.239 0209 0183 0160 0140 0123 0108 0.095 0084 0.074 0.065 0.057 0.051 0.045 0.040 0.035
0.534 0.458 0.394 0.339 0.292 0.252 0218 0188 0.163 0.141 0123 0107 0.093 0.081 0.071 0.062 0.054 0.047 0.042 0.036 0.032 0.028
0.513 0.436 0.371 0.317 0.270 0.231 0198 0170 0146 0.125 0.108 0.093 0.080 0.069 0.060 0.052 0.045 0.039 0.034 0.030 0.026 0.023
0.494 0.416 0.350 0.296 0.250 0.212 0.180 0153 0130 0.111 0.095 0.081 0.069 0.059 0.051 0.044 0.038 0.032 0.028 0.024 0.021 0.018
0.475 0.396 0.331 0.277 0232 0.194 0164 0138 0.116 0.098 0.083 0.070 0.060 0.051 0.043 0.037 0.031 0.027 0.023 0.020 0.017 0.014
0.456 0.377 0.312 0.258 0.215 0.178 0149 0124 0104 0.087 0.073 0.061 0.051 0.043 0.037 0.031 0.026 0.022 0.019 0016 0.014 0.012
0.439 0.359 0.294 0242 0199 0.164 0135 0112 0.093 0.077 0.064 0.053 0.044 0.037 0.031 0.026 0.022 0.018 0.015 0.013 0.011 0.009
0.422 0342 0.278 0.226 0184 0.150 0123 0101 0.083 0.068 0.056 0.046 0.038 0.032 0.026 0.022 0.018 0.015 0.013 0.011 0.009 0.007
0.406 0.326 0.262 0.211 0170 0.138 0112 0.091 0.074 0.060 0.049 0.040 0.033 0.027 0.022 0.018 0.015 0.012 0010 0.009 0.007 0.006
0.390 0310 0.247 0197 0158 0.126 0102 0.082 0066 0.053 0043 0.035 0.028 0.023 0.019 0.015 0.013 0010 0.008 0.007 0.006 0.005
0.375 0.295 0.233 0184 0146 0116 0092 0.074 0.059 0.047 0.038 0.030 0.024 0.020 0016 0.013 0010 0.009 0.007 0.006 0.005 0.004
26
0.361 0281 0.220 0172 0135 0.106 0.084 0.066 0.053 0.042 0.033 0.026 0.021 0.017 0.014 0.011 0.009 0.007 0.006 0.005 0.004 0.003
27
0.347 0268 0.207 0161 0125 0.098 0.076 0.060 0047 0.037 0.029 0023 0.018 0.014 0.011 0.009 0.007 0.006 0.005 0.004 0.003 0.002
28 0.333 0255 0196 0.150 0.116 0.090 0.069 0.054 0.042 0.033 0.026 0.020 0016 0.012 0010 0.008 0.006 0.005 0.004 0.003 0.002 0.002
29 0.321 0243 0185 0.141 0107 0.082 0.063 0048 0.037 0.029 0022 0.017 0.014 0.011 0.008 0.006 0.005 0004 0.003 0.002 0.002 0.002
30 0.308 0231 0174 0131 0.099 0.075 0.057 0.044 0.033 0.026 0.020 0.015 0012 0.009 0.007 0.005 0.004 0.003 0.003 0.002 0.002 0.001
EXHIBIT 78-2 Present Value of an Annuity of $1 in Arrears: [1] 7B-2
2
Periods 4% 5% 6% 7% 8% 9% 10% 11% 12% 13 % 14 % 15% 16%
16% 17% 18% 19% 20% 21% 22% 23% 24% 25%
1 0.962 0.952 0943 0935 0.926 0917 0.909 0.901 0.893 0.885 0877 0.870 0.862 0.855 0.847 0.840 0.833 0826 0.820 0813 0.806 0.800
1.886 1859 1833 1808 1783 1759 1736 1713 1690 1668 1647 1626 1605 1585 1566 1547 1528 1509 1492 1474 1457 1440
2322 2283 2246 2210 2174 2140 2106 2074 2042 2011 1981 1952
2.914 2.855 2798 2.743 2690 2.639 2.589 2.540 2494 2.448 2.404 2362
3.433 3.352 3.274 3199 3127 3.058 2.991 2.926 2864 2.803 2745 2689
2.775 2.723 2.673 2624 2577 2531 2.487 2444 2.402 2.361
3.630 3.546 3.465 3.387 3.312 3240 3170 3102 3.037 2.974
4.452 4.329 4.212 4100 3.993 3.890 3.791 3.696 3.605 3.517
6 5.242 5076 4.917 4767 4623 4486 4355 4231 4111 3.998 3.889 3784 3685 3.589 3.498 3410 3.326 3245 3167 3.092 3.020 2.951
7 6.002 5.786 5.582 5.389 5.206 5.033 4868 4712 4564 4.423
4288 4160 4039 3.922 3.812 3706 3.605 3.508 3.416 3.327 3.242 3161
8 6.733 6.463 6.210 5.971 5.747 5.535 5.335 5.146 4.968 4.799 4639 4.487 4344 4.207 4078 3.954 3.837 3.726 3.619 3.518 3.421 3.329
9 7435 7108 6 802 6515 6247
6.247 5.995 5.759 5.537 5.328 5132 4946 4772 4.607 4.451 4.303 4163 4.031 3.905 3.786 3.673 3.566 3.463
10 8.111 7722 7.360 7024 6.710 6.418 6145 5.889 5.650 5.426 5.216 5.019 4833 4.659 4494 4339 4192 4054 3.923 3799 3.682 3571
15
16
11 8.760 8.306 7.887 7.499 7139 6.805 6.495 6.207 5.938 5.687 5.453 5.234 5.029 4.836 4656 4.486 4.327 4177 4.035 3.902 3.776 3656
12 9.385 8863 8.384 7943 7536 7161 6.814 6.492 6194 5.918 5.660 5.421 5197 4.988 4793 4611 4.439 4278 4.127 3.985 3.851 3725
13 9.986 9.394 8.853 8.358 7904 7487 7103 6.750 6.424 6122 5.842 5583 5.342 5.118 4.910 4715 4.533 4.362 4203 4053 3.912 3.780
14
10.563 9.899 9.295 8.745 8.244 7786 7.367 6.982 6.628 6.302 6.002 5.724 5.468 5.229 5.008 4.802 4.611 4.432 4.265 4108 3.962 3824
11.118 10.380 9.712 9108 8.559 8061 7606 7191 6.811 6.462 6142 5.847 5.575 5.324 5.092 4876 4.675 4.489 4.315 4153 4.001 3859
11652 10 838 10.106 9447 8.851 8.313 7824 7379 6.974 6.604 6.265 5.954 5.668 5.405 5162 4.938 4730 4536 4.357 4189 4.033 3.887
17 12.166 11.274 10.477 9763 9122 8.544 8.022 7549 7120 6.729 6.373 6.047 5.749 5.475 5.222 4.990 4775 4.576 4.391 4219 4.059 3.910
18 12.659 11.690 10.828 10.059 9.372 8756 8201 7702 7.250 6.840 6.467 6128 5.818 5.534 5.273 5.033 4.812 4608 4.419 4243 4.080 3.928
19 13134 12.085 11158 10.336 9.604 8.950 8.365 7839 7366 6.938 6.550 6.198 5.877 5.584 5.316 5.070 4.843 4635 4.442 4263 4.097 3942
20 13.590 12.462 11.470 10.594 9.818 9129 8.514 7.963 7.469 7.025 6.623 6.259 5.929 5.628 5.353 5101 4.870 4657 4.460 4279 4.110 3.954
21 14.029 12.821 11.764 10.836 10.017 9.292 8.649 8.075 7562 7102 6.687 6.312 5.973 5.665 5.384 5.127 4.891 4675 4.476 4292 4.121 3.963
22 14.451 13.163 12.042 11.061 10.201 9442 8.772 8176 7645 7170 6.743 6.359 6.011 5.696 5410 5.149 4.909 4.690 4.488 4.302 4.130 3.970
23 14.857 13.489 12.303 11.272 10.371 9.580 8.883 8.266 7718 7230 6.792 6.399 6.044 5.723 5.432 5.167 4.925 4703 4.499 4.311 4.137 3.976
24 15.247 13.799 12.550 11.469 10.529 9707 8.585 8.348 7784 7283 6.835 6.434 6.073 5.746 5.451 5.182 4.937 4713 4.507 4318 4.143 3.981
25 15.622 14.094 12.783 11.654 10.675 9823 9.077 8.422 7843 7330 6.873 6.464 6.097 5.766 5.467 5.195 4.948 4721 4.514 4.323 4147 3.985
15.983 14.375 13.003 11.826 10.810 9.929 9161 8.488 7896 7372 6.906 6.491 6.118 5.783 5.480 5.206 4.956 4728 4520 4.328 4.151 3.988
6.935 6.514 6136 5.798 5.492 5.215 4.964 4734 4.524 4332 4.154 3.990
26
27 16.330 14.643 13.211 11.987 10.935 10.027 9.237 8.548 7943 7.409
28
16.663 14.898 13.406 12137 11051 10.116 9.307 8.602 7984 7441 6.961 6534 6152 5.810 5.502 5.223 4.970 4739 4528 4335 4157 3.992
29 16.984 15.141 13.591 12.278 11.158 10.198 9.370 8.650 8.022 7470 6.983 6.551 6166 5.820 5.510 5.229 4.975 4743 4.531 4.337 4.159 3.994
30 17.292 15.372 13.765 12.409 11.258 10.274 9.427 8.694 8.055 7496 7003 6.566 6177 5.829 5.517 5.235 4.979 4746 4534 4339 4.160 3.995
40 19.793 17159 15.046 13.332 11.925 10.757 9779 8.951 8.244 7634 7105 6.642 6233 5.871 5.548 5.258 4.997 4760 4544 4347 4166 3.999
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