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Hello Sir, for PYQ Sept 2018 Q1 Washi Co,
Why the initial investment in year 0 that start in 1 year time do not discounted at present value which is time 0 (now)? (DCF@12%) (0.893)Thank you.
The examiners wording is a bit confusing.
If you did have the initial investment at time 1 (and therefore all the other flows 1 year later than in the answer), then you would still get the marks.
What if I follow the examiner format which write the project year rather than time 1,but still discount the initial investment back to present value, will consider no mark?
Thank you.
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