{"text_format":"1","workbook":"xlsx","n_sheets":4,"sheets":["Disclaimer","Title","Inputs","Calcs"],"not_rendered":{"charts":0,"images":2,"macros":1,"external_links":1,"defined_names":53,"comments":0,"pivot_tables":0},"unopened":[],"bounds":{"document_bytes":16777216,"sheet_cells":100000,"rows_first":2000,"rows_last":500,"rows_between":2000,"halvings":0,"cell_chars":16384,"cell_head_chars":4096},"cells_cut":0,"cells_raw":0,"read":"whole","date_system":"1900"}

{"sheet":"Disclaimer","index":0,"n_rows":35,"n_cols":20,"rows_kept":35,"cut":false,"hidden":true,"merged":[]}
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[null,"Legal disclaimer"]
[null,"Please fully read this disclaimer before using this model"]
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[null,"\n\n"]
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[null,null,null,null,"www.lentransolutions.com",null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Level 8, Suite 3, 234 George Street, NSW 2000"]
[null,null,null,null,"contact@lentransolutions.com",null,null,null,null,null,null,null,null,null,null,null,null,null,null,"ABN: 66 615 474 523"]

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[null,null,{"$f":"Model_Name","v":"NPV & IRR"}]
[null,null,"LMS Tutorial"]
[null,null,"Sydney, March 2017"]
[]
[]
[]
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[null,null,null,null,"www.lentransolutions.com",null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Level 8, Suite 3, 234 George Street, NSW 2000"]
[null,null,null,null,"contact@lentransolutions.com",null,null,null,null,null,null,null,null,null,null,null,null,null,null,"ABN: 66 615 474 523"]

{"sheet":"Inputs","index":2,"n_rows":28,"n_cols":17,"rows_kept":28,"cut":false,"hidden":false,"merged":[]}
[null,null,"Assumptions"]
[null,null,{"$f":"\"Tutorial: \"&Model_Name","v":"Tutorial: NPV & IRR"}]
[]
[]
[]
[null,null,"Tutorial inputs"]
[null,null,"Timing"]
[null,null,"Model start date","Date","2017-12-31"]
[]
[null,null,"Cashflows"]
[null,null,"Operating quarter",null,"Total",1,{"$f":"F11+1","v":2},{"$f":"G11+1","v":3},4,5,6,7,8,9,10,11,{"$f":"P11+1","v":12}]
[null,null,"Revenue","AUD '000",{"$f":"SUM(F12:Q12)","v":5820},0,0,530,550,565.00000000000011,560,575.00000000000011,590.00000000000011,605.00000000000011,600,615,630]
[null,null,"Opex","AUD '000",{"$f":"SUM(F13:Q13)","v":3785.7624999999998},0,0,344.5,339.62500000000006,367.25000000000006,364.00000000000006,392.43750000000006,383.50000000000006,393.25000000000006,351,399.75,450.45000000000005]
[null,null,"Capex","AUD '000",1394,560,834,0,0,0,0,0,0,0,0,0,0]
[]
[null,null,"Operating quarter",null,"Total",1,{"$f":"F16+1","v":2},{"$f":"G16+1","v":3},4,5,6,7,8,9,10,11,{"$f":"P16+1","v":12}]
[null,null,"Net cashflows","AUD '000",{"$f":"SUM(F17:Q17)","v":1665},-2040,515,1530,1550,565.00000000000011,560,575.00000000000011,590.00000000000011,605.00000000000011,600,615,-4000]
[]
[null,null,"Returns"]
[null,null,"Discount rate","%",0.12]
[]
[null,null,"Technical inputs"]
[null,null,"General"]
[null,null,"Tutorial name","Name","NPV & IRR"]
[null,null,"Months per quarter","Number",3]
[null,null,"Quarters per year","Number",4]
[null,null,"Days per year","Number",365]
[null,null,"Small number","Number",1.0000000000000001E-5]

{"sheet":"Calcs","index":3,"n_rows":47,"n_cols":19,"rows_kept":47,"cut":false,"hidden":false,"merged":[]}
[null,null,"Calculations"]
[null,null,{"$f":"\"Tutorial: \"&Model_Name","v":"Tutorial: NPV & IRR"}]
[null,null,"Period end","Date",null,null,{"$f":"Inputs!E8","v":"2017-12-31"},{"$f":"EOMONTH(G3,Mths_Qtr)","v":"2018-03-31"},"2018-06-30","2018-09-30","2018-12-31","2019-03-31","2019-06-30","2019-09-30","2019-12-31","2020-03-31","2020-06-30","2020-09-30","2020-12-31"]
[]
[null,null,"Key calculations"]
[null,null,"Timing"]
[null,null,"Forecast quarter","Num#",null,null,0,{"$f":"G7+1","v":1},{"$f":"H7+1","v":2},3,4,5,6,7,8,9,10,11,12]
[null,null,"Days in period","Days",null,null,null,{"$f":"H3-G3","v":90},{"$f":"I3-H3","v":91},92,92,90,91,92,92,91,91,92,92]
[]
[null,null,"Valuation"]
[null,null,"Cashflows"]
[null,null,{"$f":"Inputs!C12","v":"Revenue"},"AUD '000",null,null,{"$f":"SUM(H12:S12)","v":5820},{"$f":"Inputs!F12","v":0},{"$f":"Inputs!G12","v":0},{"$f":"Inputs!H12","v":530},{"$f":"Inputs!I12","v":550},{"$f":"Inputs!J12","v":565.00000000000011},{"$f":"Inputs!K12","v":560},{"$f":"Inputs!L12","v":575.00000000000011},{"$f":"Inputs!M12","v":590.00000000000011},{"$f":"Inputs!N12","v":605.00000000000011},{"$f":"Inputs!O12","v":600},{"$f":"Inputs!P12","v":615},{"$f":"Inputs!Q12","v":630}]
[null,null,{"$f":"Inputs!C13","v":"Opex"},"AUD '000",null,null,-3785.7624999999998,{"$f":"-Inputs!F13","v":0},{"$f":"-Inputs!G13","v":0},{"$f":"-Inputs!H13","v":-344.5},{"$f":"-Inputs!I13","v":-339.62500000000006},{"$f":"-Inputs!J13","v":-367.25000000000006},{"$f":"-Inputs!K13","v":-364.00000000000006},{"$f":"-Inputs!L13","v":-392.43750000000006},{"$f":"-Inputs!M13","v":-383.50000000000006},{"$f":"-Inputs!N13","v":-393.25000000000006},{"$f":"-Inputs!O13","v":-351},{"$f":"-Inputs!P13","v":-399.75},{"$f":"-Inputs!Q13","v":-450.45000000000005}]
[null,null,{"$f":"Inputs!C14","v":"Capex"},"AUD '000",null,null,-1394,{"$f":"-Inputs!F14","v":-560},{"$f":"-Inputs!G14","v":-834},{"$f":"-Inputs!H14","v":0},{"$f":"-Inputs!I14","v":0},{"$f":"-Inputs!J14","v":0},{"$f":"-Inputs!K14","v":0},{"$f":"-Inputs!L14","v":0},{"$f":"-Inputs!M14","v":0},{"$f":"-Inputs!N14","v":0},{"$f":"-Inputs!O14","v":0},{"$f":"-Inputs!P14","v":0},{"$f":"-Inputs!Q14","v":0}]
[null,null,"Total","AUD '000",null,null,640.23750000000018,{"$f":"SUM(H12:H14)","v":-560},{"$f":"SUM(I12:I14)","v":-834},185.5,210.37499999999994,197.75000000000006,195.99999999999994,182.56250000000006,206.50000000000006,211.75000000000006,249,215.25,179.54999999999995]
[]
[null,null,"Evaluation cashflows","AUD '000",null,null,{"$f":"-Small_number","v":-1.0000000000000001E-5},{"$f":"H15","v":-560},{"$f":"I15","v":-834},185.5,210.37499999999994,197.75000000000006,195.99999999999994,182.56250000000006,206.50000000000006,211.75000000000006,249,215.25,179.54999999999995]
[]
[null,null,"NPV",null,"% p.a","% p.q (no. 1)","% p.q (no. 2)"]
[null,null,"Discount rate","% p.p.",{"$f":"Inputs!E20","v":0.12},{"$f":"E20/Qtr_Yr","v":0.03},{"$f":"((1+$E$20)^(1/Qtr_Yr))-1","v":2.8737344722080227E-2},{"$f":"((1+$E$20)^(H8/Days_Yr))-1","v":2.8338156949382798E-2},2.8657494772696745E-2,2.8976931762461522E-2,2.8976931762461522E-2,2.8338156949382798E-2,2.8657494772696745E-2,2.8976931762461522E-2,2.8976931762461522E-2,2.8657494772696745E-2,2.8657494772696745E-2,2.8976931762461522E-2,2.8976931762461522E-2]
[]
[null,null,"1st principles"]
[null,null,"Discount index","Index","NPV",null,1,{"$f":"(1+H20)*G23","v":1.0283381569493828},1.0578077523067244,1.0884597753631191,1.1200000000000003,1.1517387357833091,1.1847446825835317,1.2190749484066938,1.2544000000000008,1.2903479614428717,1.3273261014028808,1.365787939269766,1.4053642831879789]
[null,null,"Discounted cashflows","AUD '000",{"$f":"SUM(H24:S24)","v":313.83705469531537},null,null,{"$f":"H17/H23","v":-544.56794801942226},-788.42303639893476,170.42430432315763,187.83482142857133,171.69692557532008,165.43648845301379,149.75494348284781,164.62053571428564,164.10302207415467,187.59519588805367,157.60133312868896,127.7604690455789]
[]
[null,null,"NPV & XNPV function"]
[null,null,"NPV no. 1","AUD '000",{"$f":"NPV(E20,$H$17:$S$17)","v":-257.13933844540611}]
[null,null,"NPV no. 2","AUD '000",{"$f":"NPV(F20,$H$17:$S$17)","v":302.0428244163661}]
[null,null,"NPV no. 3","AUD '000",{"$f":"NPV(G20,$H$17:$S$17)","v":314.20732025000984}]
[null,null,"NPV no. 4","AUD '000",{"$f":"NPV(G20,$G$17:$S$17)","v":305.43006129022655}]
[null,null,"NPV no. 5","AUD '000",{"$f":"G17+NPV(G20,$H$17:$S$17)","v":314.20731025000987}]
[null,null,"XNPV","AUD '000",{"$f":"XNPV($E$20,$G$17:$S$17,$G$3:$S$3)","v":313.83704469531597}]
[]
[null,null,"Discrepancy to 1st principles"]
[null,null,{"$f":"C27","v":"NPV no. 1"},"AUD '000",{"$f":"$E$24-E27","v":570.97639314072148}]
[null,null,{"$f":"C28","v":"NPV no. 2"},"AUD '000",11.794230278949271]
[null,null,{"$f":"C29","v":"NPV no. 3"},"AUD '000",-0.37026555469446976]
[null,null,{"$f":"C30","v":"NPV no. 4"},"AUD '000",8.4069934050888264]
[null,null,{"$f":"C31","v":"NPV no. 5"},"AUD '000",-0.370255554694495]
[null,null,{"$f":"C32","v":"XNPV"},"AUD '000",9.9999994063182385E-6]
[]
[null,null,"IRR"]
[null,null,"XIRR no. 1","%",{"$f":"XIRR(H17:S17,$H$3:$S$3)","v":0.30193250775337221}]
[null,null,"XIRR no. 2","%",{"$f":"XIRR(G44:S44,$G$3:$S$3)","v":2.9802322387695314E-9},null,0,{"$f":"H17","v":-560},-834,185.5,210.37499999999994,197.75000000000006,195.99999999999994,182.56250000000006,206.50000000000006,211.75000000000006,249,215.25,179.54999999999995]
[null,null,"XIRR no. 3","%",{"$f":"XIRR(G17:S17,$G$3:$S$3)","v":0.3019324958324433}]
[]
[null,null,"XNPV (vs. XIRR) check","AUD '000",{"$f":"XNPV(E45,G17:S17,$G$3:$S$3)","v":1.8537206472046819E-6}]