Thus, there is a general high demand for the use of the National Guard Armory. Some of the methods that the National Guard armory is in the regular use are as follows:
Graduations/Receptions
Classes/Seminars
Social and Youth Events
Antique Shows
Group Meetings
Rummage Sales
Sports
Dog/Cat Shows
Tournaments and competitions
Charity Events
Birthday Parties and Potlucks
With high demand for the National Guard Armory, the government of Massachusetts realizes $1.4 Million of rental fee retained revenue yearly. The historical revenue generated from the National Guard Armory in Massachusetts is as follows:
(U.S. Dollars)
FY2011
GAA
FY2012
GAA
FY2013
GAA
FY2013
Projected
FY2014
GAA
Historical Budget Levels
1,400,000
1,400,000
1,400,000
1,400,000
1,400,000
(Commonwealth of Massachusetts, 2012).
Based on the historical and projected revenue of the National Guard Armory, the Massachusetts States government will realize approximate $1,400,000 yearly within 15 years.
Projected revenue of the project in 15 years based on the demand for the armory is as follows:
Projected revenue =1,400,000 x 15
Projected revenue =$21,000,000
Thus, the future value (FV) of the project is $21,000,000.
Based on the information collected on the costs and revenues associated with the proposed project, the report evaluates the viability of the project using discounting technique.
Formula for discounting the project is as follows:
PV = FV x [1 + (1 + i) n]
To simplify the calculation, the report substitutes the discount factor of the project in Table 1 to arrive at the present value (PV) of the project with the formula revealed as follows:
PV = FV x [Discount Factor]
The report assumes that there will be a project delay for one year and the report integrates the costs of delay in the calculation. The detailed of the Net Present Value for National Guard Armory table is revealed below:
Net Present Value for National Guard Armory
Time
Estimated Yearly
Returns
Discount Factor
@ 4%
Formula
Net Present Value
Year 0
0
($8,125,000)
Year 1
1400000
0.9615
PV = $1,400,000 x [0.9615 ]
1346100
Year 2
1400000
0.9246
PV = $1,400,000 x [0.9246 ]
1294440
Year 3
1400000
0.889
PV = $1,400,000 x [0.889]
1244600
Year 4
1400000
0.8548
PV = $1,400,000 x [0.8548 ]
1196720
Year 5
1400000
0.8219
PV = $1,400,000 x [0.8219 ]
1150660
Year 6
1400000
0.7903
PV = $1,400,000 x [0.7903]
1106420
Year 7
1400000
0.7599
PV = $1,400,000 x [0.7599 ]
1063860
Year 8
1400000
0.7307
PV =...
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