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Solution Manual for Engineering Economics Financial Decision Making for Engineers 5th Edition by Fraser

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  • ISBN-10 ‏ : ‎ 0132379252
  • ISBN-13 ‏ : ‎ 978-0132379250
  • Author: Niall M. Fraser; Elizabeth M. Jewkes

Engineering Financial Decision Making for Engineers¿ is designed for teaching a course on engineering economics to match engineering practice today. It recognizes the role of the engineer as a decision maker who has to make and defend sensible decisions. Such decisions must not only take into account a correct assessment of costs and benefits, they must also reflect an understanding of the environment in which the decisions are made. The 5 th edition has new material on project management in order to adhere to the CEAB guidelines as well the new edition will have a new spreadsheet feature throughout the text.

Table of contents:

  • Machine generated contents note: pt. 1 UNDERSTANDING MONEY AND ITS MANAGEMENT
  • ch. 1 Engineering Economic Decisions
  • 1.1. The Rational Decision-Making Process
  • 1.1.1. How Do We Make Typical Personal Decisions?
  • 1.1.2. How Do We Approach an Engineering Design Problem?
  • 1.1.3. What Makes Economic Decisions Different from Other Design Decisions?
  • 1.2. The Engineer’s Role in Business
  • 1.2.1. Making Capital-Expenditure Decisions
  • 1.2.2. Large-Scale Engineering Economic Decisions
  • 1.2.3. Impact of Engineering Projects on Financial Statements
  • 1.3. Types of Strategic Engineering Economic Decisions
  • 1.3.1. New Products or Product Expansion
  • 1.3.2. Equipment and Process Selection
  • 1.3.3. Cost Reduction
  • 1.3.4. Equipment Replacement
  • 1.3.5. Service or Quality Improvement
  • 1.4. Fundamental Principles in Engineering Economics
  • Summary
  • Self-Test Questions
  • Problems
  • ch. 2 Time Value of Money
  • 2.1. Interest: The Cost of Money
  • 2.1.1. The Time Value of Money
  • 2.1.2. Elements of Transactions Involving Interest
  • 2.1.3. Methods of Calculating Interest
  • 2.2. Economic Equivalence
  • 2.2.1. Definition and Simple Calculations
  • 2.2.2. Equivalence Calculations Require a Common Time Basis for Comparison
  • 2.3. Interest Formulas for Single Cash Flows
  • 2.3.1.Compound-Amount Factor
  • 2.3.2. Present-Worth Factor
  • 2.3.3. Solving for Time and Interest Rates
  • 2.4. Uneven-Payment Series
  • 2.5. Equal-Payment Series
  • 2.5.1.Compound-Amount Factor: Find F, Given A, i, and N
  • 2.5.2. Sinking-Fund Factor: Find A, Given F, i, and N
  • 2.5.3. Capital-Recovery Factor (Annuity Factor): Find A, Given P, i, and N
  • 2.5.4. Present-Worth Factor: Find P, Given A, i, and N
  • 2.5.5. Present Value of Perpetuities
  • 2.6. Dealing with Gradient Series
  • 2.6.1. Handling Linear Gradient Series
  • 2.6.2. Handling Geometric Gradient Series
  • 2.7. More on Equivalence Calculations
  • Summary
  • Self-Test Questions
  • Problems
  • ch. 3 Understanding Money Management
  • 3.1. Market Interest Rates
  • 3.1.1. Nominal Interest Rates
  • 3.1.2. Annual Effective Yields
  • 3.2. Calculating Effective Interest Rates Based on Payment Periods
  • 3.2.1. Discrete Compounding
  • 3.2.2. Continuous Compounding
  • 3.3. Equivalence Calculations with Effective Interest Rates
  • 3.3.1.Compounding Period Equal to Payment Period
  • 3.3.2.Compounding Occurs at a Different Rate than That at Which Payments are Made
  • 3.4. Debt Management
  • 3.4.1. Borrowing with Credit Cards
  • 3.4.2.Commercial Loans
  • Calculating Principal and Interest Payments
  • 3.4.3.Comparing Different Financing Options
  • Summary
  • Self-Test Questions
  • Problems
  • ch. 4 Equivalence Calculations under Inflation
  • 4.1. Measure of Inflation
  • 4.1.1. Consumer Price Index
  • 4.1.2. Producer Price Index
  • 4.1.3. Average Inflation Rate
  • 4.1.4. General Inflation Rate (f) versus Specific Inflation (fj)
  • 4.2. Actual versus Constant Dollars
  • 4.2.1. Conversion from Constant to Actual Dollars
  • 4.2.2. Conversion from Actual to Constant Dollars
  • 4.3. Equivalence Calculations under Inflation
  • 4.3.1. Market and Inflation-Free Interest Rates
  • 4.3.2. Constant-Dollar Analysis
  • 4.3.3. Actual-Dollar Analysis
  • 4.3.4. Mixed-Dollar Analysis
  • Summary
  • Self-Test Questions
  • Problems
  • pt. 2 EVALUATING BUSINESS AND ENGINEERING ASSETS
  • ch. 5 Present-Worth Analysis
  • 5.1. Loan versus Project Cash Flows
  • 5.2. Initial Project Screening Methods
  • 5.2.1. Benefits and Flaws of Payback Screening
  • 5.2.2. Discounted-Payback Period
  • 5.3. Present-Worth Analysis
  • 5.3.1.Net-Present-Worth Criterion
  • 5.3.2. Guidelines for Selecting a MARR
  • 5.3.3. Meaning of Net Present Worth
  • 5.3.4.Net Future Worth and Project Balance Diagram
  • 5.3.5. Capitalized-Equivalent Method
  • 5.4. Methods to Compare Mutually Exclusive Alternatives
  • 5.4.1. Doing Nothing Is a Decision Option
  • 5.4.2. Service Projects versus Revenue Projects
  • 5.4.3. Analysis Period Equals Project Lives
  • 5.4.4. Analysis Period Differs from Project Lives
  • Summary
  • Self-Test Questions
  • Problems
  • ch. 6 Annual-Equivalence Analysis
  • 6.1. Annual-Equivalent Worth Criterion
  • 6.1.1. Benefits of AE Analysis
  • 6.1.2. Capital (Ownership) Costs versus Operating Costs
  • 6.2. Applying Annual-Worth Analysis
  • 6.2.1. Unit-Profit or Unit-Cost Calculation
  • 6.2.2. Make-or-Buy Decision
  • 6.3.Comparing Mutually Exclusive Projects
  • 6.3.1. Analysis Period Equals Project Lives
  • 6.3.2. Analysis Period Differs from Project Lives
  • Summary
  • Self-Test Questions
  • Problems
  • ch. 7 Rate-of-Return Analysis
  • 7.1. Rate of Return
  • 7.1.1. Return on Investment
  • 7.1.2. Return on Invested Capital
  • 7.2. Methods for Finding Rate of Return
  • 7.2.1. Simple versus Nonsimple Investments
  • 7.2.2.Computational Methods
  • 7.3. Internal-Rate-of-Return Criterion
  • 7.3.1. Relationship to the PW Analysis
  • 7.3.2. Decision Rule for Simple Investments
  • 7.3.3. Decision Rule for Nonsimple Investments
  • 7.4. Incremental Analysis for Comparing Mutually Exclusive Alternatives
  • 7.4.1. Flaws in Project Ranking by IRR
  • 7.4.2. Incremental-Investment Analysis
  • 7.4.3. Handling Unequal Service Lives
  • Summary
  • Self-Test Questions
  • Problems
  • ch. 7A Resolution of Multiple Rates of Return
  • 7A-1.Net-Investment Test
  • 7A-2. The Need for an External Interest Rate
  • 7A-3. Calculation of Return on Invested Capital for Mixed Investments
  • ch. 8 Benefit-Cost Analysis
  • 8.1. Evaluation of Public Projects
  • 8.1.1. Valuation of Benefits and Costs
  • 8.1.2. Users’ Benefits
  • 8.1.3. Sponsor’s Costs
  • 8.1.4. Social Discount Rate
  • 8.2. Benefit-Cost Analysis
  • 8.2.1. Definition of Benefit-Cost Ratio
  • 8.2.2. Incremental B/C-Ratio Analysis
  • 8.3. Profitability Index
  • 8.3.1. Definition of Profitability Index
  • 8.3.2. Incremental PI Ratio for Mutually Exclusive Alternatives
  • 8.4. Highway Benefit-Cost Analysis
  • 8.4.1. Define the Base Case and the Proposed Alternatives
  • 8.4.2. Highway User Benefits
  • 8.4.3. Sponsors’ Costs
  • 8.4.4. Illustrating Case Example
  • Summary
  • Self-Test Questions
  • Problems
  • pt. 3 DEVELOPMENT OF PROJECT CASH FLOWS
  • ch. 9 Accounting for Depreciation and Income Taxes
  • 9.1. Accounting Depreciation
  • 9.1.1. Depreciable Property
  • 9.1.2. Cost Basis
  • 9.1.3. Useful Life and Salvage Value
  • 9.1.4. Depreciation Methods: Book and Tax Depreciation
  • 9.2. Book Depreciation Methods
  • 9.2.1. Straight-Line Method
  • 9.2.2. Declining-Balance Method
  • 9.2.3. Units-of-Production Method
  • 9.3. Tax Depreciation Methods
  • 9.3.1. MACRS Recovery Periods
  • 9.3.2. MACRS Depreciation: Personal Property
  • 9.3.3. MACRS Depreciation: Real Property
  • 9.4. Corporate Taxes
  • 9.4.1. How to Determine “Accounting Profit”
  • 9.4.2.U.S. Corporate Income Tax Rates
  • 9.4.3. Gain Taxes on Asset Disposals
  • Summary
  • Self-Test Questions
  • Problems
  • ch. 10 Project Cash-Flow Analysis
  • 10.1. Understanding Project Cost Elements
  • 10.1.1. Classifying Costs for Manufacturing Environments
  • 10.1.2. Classifying Costs for Financial Statements
  • 10.1.3. Classifying Costs for Predicting Cost Behavior
  • 10.2. Why Do We Need to Use Cash Flows in Economic Analysis?
  • 10.3. Income-Tax Rate to Be Used in Project Evaluation
  • 10.4. Incremental Cash Flows from Undertaking a Project
  • 10.4.1. Operating Activities
  • 10.4.2. Investing Activities
  • 10.4.3. Financing Activities
  • 10.5. Developing Project Cash Flow Statements
  • 10.5.1. When Projects Require Only Operating and Investing Activities
  • 10.5.2. When Projects Are Financed with Borrowed Funds
  • 10.6. Effects of Inflation on Project Cash Flows
  • 10.6.1. Depreciation Allowance under Inflation
  • 10.6.2. Handling Multiple Inflation Rates
  • Summary
  • Self-Test Questions
  • Problems
  • ch. 11 Handling Project Uncertainty
  • 11.1. Origins of Project Risk
  • 11.2. Methods of Describing Project Risk
  • 11.2.1. Sensitivity Analysis
  • 11.2.2. Sensitivity Analysis for Mutually Exclusive Alternatives
  • 11.2.3. Break-Even Analysis
  • 11.2.4. Scenario Analysis
  • 11.3. Probabilistic Cash Flow Analysis
  • 11.3.1. Including Risk in Investment Evaluation
  • 11.3.2. Aggregating Risk over Time
  • 11.3.3. Estimating Risky Cash Flows
  • 11.4. Considering the Project Risk by Discount Rate
  • 11.4.1. Determining the Company Cost of Capital
  • 11.4.2. Project Cost of Capital: Risk-Adjusted Discount Rate Approach
  • Summary
  • Self-Test Questions
  • Problems
  • pt. 4 SPECIAL TOPICS IN ENGINEERING ECONOMICS
  • ch. 12 Replacement Decisions
  • 12.1. Replacement-Analysis Fundamentals
  • 12.1.1. Basic Concepts and Terminology
  • 12.1.2. Approaches for Comparing Defender and Challenger
  • 12.2. Economic Service Life
  • 12.3. Replacement Analysis When the Required Service Period Is Long
  • 12.3.1. Required Assumptions and Decision Frameworks
  • 12.3.2. Handling Unequal Service Life Problems in Replacement Analysis
  • 12.3.3. Replacement Strategies under the Infinite Planning Horizon
  • 12.4. Replacement Analysis with Tax Considerations
  • Summary
  • Self-Test Questions
  • Problems
  • ch. 13 Understanding Financial Statements
  • 13.1. Accounting: The Basis of Decision Making
  • 13.2. Financial Status for Businesses
  • 13.2.1. The Balance Sheet
  • 13.2.2. The Income Statement
  • 13.2.3. The Cash-Flow Statement
  • 13.3. Using Ratios to Make Business Decisions
  • 13.3.1. Debt Management Analysis
  • 13.3.2. Liquidity Analysis
  • 13.3.3. Asset Management Analysis
  • 13.3.4. Profitability Analysis
  • 13.3.5. Market-Value Analysis
  • 13.3.6. Limitations of Financial Ratios in Business Decisions
  • 13.3.7. Where We Get the Most Up-to-Date Financial Information
  • 13.4. Principle of Investing in Financial Assets
  • 13.4.1. Trade-Off between Risk and Reward
  • 13.4.2. Broader Diversification Reduces Risk
  • 13.4.3. Broader Diversification Increases Expected Return
  • Summary
  • Self-Test Questions
  • Problems.

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