(1)计算未来3年的净收益
①未来第一年的净利益:
(360-36)×(1-20%)×(1-25%)×3000=58.32(万元)
②未来第二年的净收益:
(400-36)×(1-20%)×(1-25%)×3000=65.52(万元)
③未来第三年的净收益:
(330-36)×(1-20%)×(1-25%)×3000=52.92(万元)
(2)用未来数据资本化公式法计算每年不变的净收益
![](//img.examk.com/exam/r/e/eyC6BAghlAHdPaDL2ba6t6erf3qPNyCH.jpg)
=0.3951×(53.50+55.15+40.86)
=0.3951×149.51
=59.07(万元)
(3)计算收益价格
![](//img.examk.com/exam/x/t/H1FcqmJujz8Pc3mvtQ6A5FAoqEBwo7Qn.jpg)