7/21/2019 Hitungan Mi Paper

http://slidepdf.com/reader/full/hitungan-mi-paper 1/3

7/21/2019 Hitungan Mi Paper

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 )an*utan tabel+

Sehingga diperoleh&

• Value o9 5irm Total dari semua PV 455A dalam kurun !"#0!# ;p #.+,).,)."'#.'$&))

• Value o9 De*t  Rp4.965.265 .174.732,55

 Rp350.493 .139.132   ;p "#&",,)" 

• Value o9 -<uity /dengan =umlah outstanding sto>k se*anyak ".$(.$!.!!! lem*ar1  Rp4.965.265 .174.732,551.382.320.000 lembar   ;p $)+"&+( ? lem*ar 

Mengenai perhitungan 8A44& maka diperoleh hasil

9

!" ! !$ !#

-BT +".#+).),.,,"&++ ".!)+.'"+.()).,,"&+ "."(.,''.($#.!"!&#( ".#!".#'+.)!+.""&!,

-BT/"0T1 ,+"."".,##.++,&#+ '+#.'(+.(+".'#)&+' +"#.!!(.$').)!'&(, ".!)"."!+.,$".($#&!#

Dep2Amor ,+.(#".+'.)''&!! ,+.(#".+'.)''&!! ,+.(#".+'.)''&!! ,+.(#".+'.)''&!!

345 ',!.+,$.,"'.)'$&#+ (,#.,$".(,#.$&+' +($.()!.$#(.!(#&(, "."!.+)".,!#.#""&!#

3pe6 ! ! ! 0

 784 ! ! ! !

Terminal Value 0 0 0 '.#'$.!"!.,+,.!'$&,

455A ',!.+,$.,"'.)'$&#+ (,#.#$".(,#.$&+' +($.()!.$#(.!(#&(, (.)+$.+,.$!!.#(#&,,

PV 4 55A (,.!'#.#!+.('+&') (.)(#.$!+.(",&$$ '+.,'".,'$.!$$&"# ."#.+,.!#).,,'&'!

7/21/2019 Hitungan Mi Paper

http://slidepdf.com/reader/full/hitungan-mi-paper 3/3

8A44 350.493.139 .132

2.156.666.399 .969×20,7375 (1−25 )+

1.806.173 .260.837

2.155.666 .399.969×28,112185  

,&!(!),#+%

10

Dengan asumsi Risk ,ree rate atas SB se*esar '&')%& Risk premium rate se*esar "+&+%& Beta saham "&,')+&dan Tax Rate )%

Kd /'&')%2"+&+%1/"0)%1 !&'$')%

Ke 4APM '&')% 2 "&,')+/"+&+% 0 '&')%1 (&"""() %