7
24
2020
20
20
Universitas Indonesia Universitas Indonesia
Universitas Indonesia
Universitas Indonesia
21
Universitas Indonesia
vi
Universitas Indonesia
Analisis Sensitivitas (Variasi MARR)
MARR
NPV
UNIVERSITAS INDONESIA
Proyek Gedung Perkantoran dan Ruko di Jalan Juanda Depok
Tugas Besar Mata Kuliah Ekonomi Teknik
KELOMPOK 1
Alif Nuzulul Hidayat 12062
Cesario Fatriantama 12062
Muhammad Fajar Sidiq 1206217925
Wildan Nurasad 1206202160
FAKULTAS TEKNIK
UNIVERSITAS INDONESIA
DEPOK
2014
KATA PENGANTAR
Puji syukur kami panjatkan kepada Tuhan Yang Maha Esa, karena atas berkat dan rahmat-Nya, kami dapat menyelesaikan tugas besar ini. Penulisan tugas besar ini dilakukan dalam rangka memenuhi salah satu tugas sebagai tugas akhir Mata Kuliah Ekonomi Teknik. Kami menyadari bahwa dengan bantuan dan bimbingan dari berbagai pihak, kami dapat menyelesaikan tugas besar ini. Oleh karena itu, kami mengucapkan terima kasih kepada Bapak Mohammed Ali Berawi M.Eng.Sc., Ph.D. dan Bapak Rully Andhika, ST., MT. selaku dosen mata kuliah Ekonomi Teknik yang mengarahkan kami dalam penyusunan tugas besar ini, lalu kepada sahabat yang telah banyak membantu kami dalam menyelesaikan tugas besar ini. Semoga tugas besar ini membawa manfaat bagi pengembangan ilmu.
Depok, 20 Desember 2012
Penulis
DAFTAR ISI
HALAMAN JUDUL i
KATA PENGANTAR ii
DAFTAR ISI iii
DAFTAR GAMBAR iv
DAFTAR TABEL v
DAFTAR LAMPIRAN vi
BAB 1 PENDAHULUAN 1
1.1 Deskripsi Umum Proyek 1
1.2 Lingkup Proyek 1
BAB 2 RINCIAN ANGGARAN BIAYA 2
2.1 Initial Cost 2
2.2 Operating Cost 2
2.3 Biaya Kembali (Revenue) 3
2.4 CFD 3
2.5 Rician Pengembalian Pinjaman Bank 4
2.6 PV 6
2.7 Despresiasi 7
2.8 CFD Aftar Tax 8
2.9 Pengaruh Inflasi 10
2.10 Analisa Sensitivitas 17
BAB 3 PENUTUP 21
3.1 Kesimpulan 21
3.2 Saran 21
REFERENSI 22
DAFTAR GAMBAR
Gambar 1 Analisis Sensitivitas (Variasi MARR) 4
DAFTAR TABEL
Tabel 1 Biaya Awal di Tahun Pertama 2
Tabel 2 Biaya Operasional dan Perawatan 2
Tabel 3 Biaya Maintance Tiap 5 Tahun 2
Tabel 4 Biaya Kembali 3
Tabel 5 CFD 3
Tabel 6 Rician Pengembalian Pinjaman di Tahap Pertama 5
Tabel 7 Rician Pengembalian Pinjaman di Tahap Kedua 5
Tabel 8 PV 6
Tabel 9 CFD Aftar Tax 8
Tabel 10 Pengaruh Inflasi 10
Tabel 11 CFD After Tax dan Inflasi 12
Tabel 12 PBB Setelah Inflasi 15
Tabel 13 Cash Flow After Tax & Inflation (Variasi MARR) 16
DAFTAR LAMPIRAN
Lampiran 1 Sketsa Denah Lokasi 23
Lampiran 2 Sketsa Tampak Samping Gedung Perkantoran 23
Lampiran 3 Sketsa Denah Lantai Perkantoran . 24
Lampiran 4 Sketsa Denah Parkir Kendaraan Bermotor 24
BAB 1
PENDAHULUAN
Deskripsi Umum Proyek Latar Belakang Masalah
Proyek Gedung Perkantoran yang berlokasi di Jalan Juanda, Depok, tidak jauh dari Jalan Margonda dengan luas tanah 5000 m2. Gedung Perkantoran ini dibuat dengan jumlah lantai sebanyak 15 lantai gedung bertingkat dan 2 lantai basement, yang terdiri dari 1800 m2 setiap lantai, dengan luas efektif untuk;
Restoran seluas 1300 m2 di lantai pertama.
Kantor seluas 860 m2 tiap lantai.
Meeting Hall seluas 1300 m2.
Basement sebagai tempat parkir kendaraan bermotor.
Gedung bertingkat dibagi menjadi beberapa peruntukan seperti perkantoran, restoran, dan meeting hall. Lantai pertama diperuntukan sebagai ruang Serba Guna dan Restoran.
Lalu sisa tanah dari gedung perkantoran akan dibuat Ruko dengan 2 lantai seluas....
Dari rincian spesifikasi proyek gedung tersebut, terdapat harga tanah sebesar Rp. 8 juta per m2, dengan modal ekuitas yang dimiliki adalah sebesar 25 Milyar yang sedang diivestasikan dengan IRR sebesar 8% per tahun dan bunga pinjaman yang berlaku adalah sebesar 12% per tahun.
Lingkup Proyek
Lingkup pekerjaan adalah sebagai berikut;
Menghitung kelayakan ekonomi dari proyek gedung perkantoran yang berada di Jalan Juanda.
s
BAB 2
RINCIAN ANGGARAN BIAYA
Biaya Investasi Awal
Dalam pembangunan proyek terdapat biaya investasi awal yang dibutuhkan, berikut perincian yang disajikan pada Tabel 1:
Tabel 1 Biaya Awal di Tahun Pertama.
INITIAL COST
Kebutuhan
Biaya Investasi Total (Rp)
Tanah 5000 m2
40,000,000,000.00
Ruko 2 lantai
3,600,000,000.00
Gedung Perkantoran (15 Lantai)
108,000,000,000.00
Basement 2 lantai
18,000,000,000.00
IMB
612,000,000.00
Furniture
311,100,000.00
Lift
540,000,000.00
Kamar mandi
1,020,000,000.00
Total
172,083,100,000.00
dengan rincian:
Tanah seharga Rp 8,000,000.00 per m2.
Gedung kantor 15 lantai dengan luas tiap lantai 1800 m2.
Basement 2 lantai (luas tiap lantai 1800m2).
Biaya Operasional dan Perawatan
Tabel 2 Biaya Opersional dan Perawatan.
OPERATING COST
Kebutuhan
Biaya per Tahun (Rp)
Security
360,000,000.00
Office Boy
1,350,000,000.00
Resepsionis
72,000,000.00
Listrik
384,000,000.00
Total
2,166,000,000.00
Tabel 3 Biaya Maintance Tiap 5 Tahun.
Kebutuhan
Biaya tiap 5 tahun
Cat ulang
15,000,000.00
Perawatan tanaman
5,000,000.00
Total
20,000,000.00
Biaya Kembali (Revenue)
Tabel 4 Biaya Kembali.
REVENUE
Kebutuhan
Biaya per tahun (Rp)
Kantor
44,272,800,000.00
Restoran
12,480,000,000.00
Meeting Hall
1,440,000,000.00
Parkir
4,536,000,000.00
Penyewaan Ruko
300,000,000.00
Total
63,028,800,000.00
CFD
Tabel 5 CFD.
n
Input
Output
Net
0
0.00
131,655,400,000.00
131,655,400,000.00
1
0.00
53,226,348,000.00
53,226,348,000.00
2
38,850,000,000.00
31,351,809,760.00
7,498,190,240.00
3
38,850,000,000.00
30,151,809,760.00
8,698,190,240.00
4
77,700,000,000.00
28,951,809,760.00
48,748,190,240.00
5
77,700,000,000.00
27,751,809,760.00
49,948,190,240.00
6
77,700,000,000.00
26,571,809,760.00
51,128,190,240.00
7
77,700,000,000.00
25,351,809,760.00
52,348,190,240.00
8
77,700,000,000.00
24,151,809,760.00
53,548,190,240.00
9
77,700,000,000.00
22,951,809,760.00
54,748,190,240.00
10
77,700,000,000.00
21,751,809,760.00
55,948,190,240.00
11
77,700,000,000.00
20,571,809,760.00
57,128,190,240.00
12
77,700,000,000.00
17,578,157,760.00
60,121,842,240.00
13
77,700,000,000.00
13,364,648,000.00
64,335,352,000.00
14
77,700,000,000.00
12,764,648,000.00
64,935,352,000.00
15
77,700,000,000.00
12,164,648,000.00
65,535,352,000.00
16
77,700,000,000.00
11,584,648,000.00
66,115,352,000.00
17
77,700,000,000.00
10,964,648,000.00
66,735,352,000.00
18
77,700,000,000.00
10,364,648,000.00
67,335,352,000.00
19
77,700,000,000.00
9,764,648,000.00
67,935,352,000.00
20
77,700,000,000.00
9,164,648,000.00
68,535,352,000.00
21
77,700,000,000.00
8,584,648,000.00
69,115,352,000.00
22
77,700,000,000.00
7,964,648,000.00
69,735,352,000.00
23
77,700,000,000.00
4,020,048,000.00
73,679,952,000.00
24
77,700,000,000.00
2,166,000,000.00
75,534,000,000.00
25
77,700,000,000.00
2,166,000,000.00
75,534,000,000.00
26
77,700,000,000.00
2,186,000,000.00
75,514,000,000.00
27
77,700,000,000.00
2,166,000,000.00
75,534,000,000.00
28
77,700,000,000.00
2,166,000,000.00
75,534,000,000.00
29
77,700,000,000.00
2,166,000,000.00
75,534,000,000.00
30
77,700,000,000.00
2,166,000,000.00
75,534,000,000.00
31
77,700,000,000.00
2,186,000,000.00
75,514,000,000.00
32
77,700,000,000.00
2,166,000,000.00
75,534,000,000.00
33
77,700,000,000.00
2,166,000,000.00
75,534,000,000.00
34
77,700,000,000.00
2,166,000,000.00
75,534,000,000.00
35
77,700,000,000.00
2,166,000,000.00
75,534,000,000.00
36
77,700,000,000.00
2,186,000,000.00
75,514,000,000.00
37
77,700,000,000.00
2,166,000,000.00
75,534,000,000.00
38
77,700,000,000.00
2,166,000,000.00
75,534,000,000.00
39
77,700,000,000.00
2,166,000,000.00
75,534,000,000.00
40
77,700,000,000.00
2,166,000,000.00
75,534,000,000.00
41
77,700,000,000.00
2,186,000,000.00
75,514,000,000.00
42
77,700,000,000.00
2,166,000,000.00
75,534,000,000.00
43
77,700,000,000.00
2,166,000,000.00
75,534,000,000.00
44
77,700,000,000.00
2,166,000,000.00
75,534,000,000.00
45
77,700,000,000.00
2,166,000,000.00
75,534,000,000.00
46
77,700,000,000.00
2,186,000,000.00
75,514,000,000.00
47
77,700,000,000.00
2,166,000,000.00
75,534,000,000.00
48
77,700,000,000.00
2,166,000,000.00
75,534,000,000.00
49
77,700,000,000.00
2,166,000,000.00
75,534,000,000.00
50
77,700,000,000.00
2,166,000,000.00
75,534,000,000.00
Akumulasi
3,098,293,468,640.00
Gedung Jadi pada tahun Pertama. Lalu menghitung IRR didapat dari perhitungan NPV (trial-error).
IRR = 19.54%
Payback Period = tahun ke-7
Rician Pengembalian Pinjaman Bank
Peminjaman modal ke bank dilakukan secara terpisah pada tahun ke-0 dan tahun ke-1. Pada tahap pertama di tahun ke-0 meminjam sebesar Rp 106,655,400,000.00 dengan bunga pinjam 12% pertahun, lalu tahap kedua pada tahun ke-1 sebesar Rp 53,226,348,000.00
Tabel 6 Rician Pengembalian Pinjaman di Tahap Pertama.
Tahun ke
Biaya yang Harus Dikembalikan
Compund Interest
Principal
End of Year Payment
Total Owed After Payment
0
106,655,400,000.00
1
12,798,648,000.00
0
0
106,655,400,000.00
2
12,798,648,000.00
5,000,000,000.00
17,798,648,000.00
101,655,400,000.00
3
12,198,648,000.00
5,000,000,000.00
17,198,648,000.00
96,655,400,000.00
4
11,598,648,000.00
5,000,000,000.00
16,598,648,000.00
91,655,400,000.00
5
10,998,648,000.00
5,000,000,000.00
15,998,648,000.00
86,655,400,000.00
6
10,398,648,000.00
5,000,000,000.00
15,398,648,000.00
81,655,400,000.00
7
9,798,648,000.00
5,000,000,000.00
14,798,648,000.00
76,655,400,000.00
8
9,198,648,000.00
5,000,000,000.00
14,198,648,000.00
71,655,400,000.00
9
8,598,648,000.00
5,000,000,000.00
13,598,648,000.00
66,655,400,000.00
10
7,998,648,000.00
5,000,000,000.00
12,998,648,000.00
61,655,400,000.00
11
7,398,648,000.00
5,000,000,000.00
12,398,648,000.00
56,655,400,000.00
12
6,798,648,000.00
5,000,000,000.00
11,798,648,000.00
51,655,400,000.00
13
6,198,648,000.00
5,000,000,000.00
11,198,648,000.00
46,655,400,000.00
14
5,598,648,000.00
5,000,000,000.00
10,598,648,000.00
41,655,400,000.00
15
4,998,648,000.00
5,000,000,000.00
9,998,648,000.00
36,655,400,000.00
16
4,398,648,000.00
5,000,000,000.00
9,398,648,000.00
31,655,400,000.00
17
3,798,648,000.00
5,000,000,000.00
8,798,648,000.00
26,655,400,000.00
18
3,198,648,000.00
5,000,000,000.00
8,198,648,000.00
21,655,400,000.00
19
2,598,648,000.00
5,000,000,000.00
7,598,648,000.00
16,655,400,000.00
20
1,998,648,000.00
5,000,000,000.00
6,998,648,000.00
11,655,400,000.00
21
1,398,648,000.00
5,000,000,000.00
6,398,648,000.00
6,655,400,000.00
22
798,648,000.00
5,000,000,000.00
5,798,648,000.00
1,655,400,000.00
23
198,648,000.00
1,655,400,000.00
1,854,048,000.00
0.00
Tabel 7 Rician Pengembalian Pinjaman di Tahap Kedua.
Tahun ke
Biaya yang Harus Dikembalikan
Compund Interest
Principal
End of Year Payment
Total Owed After Payment
0
53,226,348,000.00
1
0
2
6,387,161,760.00
5,000,000,000.00
11,387,161,760.00
48,226,348,000.00
3
5,787,161,760.00
5,000,000,000.00
10,787,161,760.00
43,226,348,000.00
4
5,187,161,760.00
5,000,000,000.00
10,187,161,760.00
38,226,348,000.00
5
4,587,161,760.00
5,000,000,000.00
9,587,161,760.00
33,226,348,000.00
6
3,987,161,760.00
5,000,000,000.00
8,987,161,760.00
28,226,348,000.00
7
3,387,161,760.00
5,000,000,000.00
8,387,161,760.00
23,226,348,000.00
8
2,787,161,760.00
5,000,000,000.00
7,787,161,760.00
18,226,348,000.00
9
2,187,161,760.00
5,000,000,000.00
7,187,161,760.00
13,226,348,000.00
10
1,587,161,760.00
5,000,000,000.00
6,587,161,760.00
8,226,348,000.00
11
987,161,760.00
5,000,000,000.00
5,987,161,760.00
3,226,348,000.00
12
387,161,760.00
3,226,348,000.00
3,613,509,760.00
0.00
PV
Tabel 8 PV.
n
PV
Output
Input
0
131,655,400,000.00
0.00
1
47,102,962,831.86
0.00
2
24,553,065,831.31
30,425,248,649.07
3
20,896,716,647.13
26,924,998,804.49
4
17,756,687,126.02
47,654,865,140.69
5
15,062,570,489.21
42,172,447,027.16
6
12,762,932,535.16
37,320,749,581.56
7
10,776,056,576.72
33,027,212,019.08
8
9,084,941,419.66
29,227,621,255.82
9
7,640,309,367.78
25,865,151,553.82
10
6,407,829,705.95
22,889,514,649.40
11
5,363,022,526.69
20,256,207,654.34
12
4,055,384,491.83
17,925,847,481.71
13
2,728,586,709.66
15,863,581,842.22
14
2,306,272,573.61
14,038,568,001.97
15
1,945,014,728.40
12,423,511,506.17
16
1,639,184,151.92
10,994,257,970.06
17
1,372,970,338.18
9,729,431,831.91
18
1,148,530,611.02
8,610,116,665.41
19
957,560,374.90
7,619,572,270.27
20
795,329,184.95
6,742,984,309.98
21
659,288,012.33
5,967,242,752.19
22
541,303,493.72
5,280,745,798.40
23
241,783,710.72
4,673,226,370.26
24
115,285,797.63
4,135,598,557.76
25
102,022,829.76
3,659,821,732.53
26
91,119,352.94
3,238,780,294.27
27
79,898,840.76
2,866,177,251.57
28
70,706,938.72
2,536,440,045.64
29
62,572,512.15
2,244,637,208.53
30
55,373,904.55
1,986,404,609.32
31
49,455,934.17
1,757,880,185.24
32
43,365,889.70
1,555,646,181.62
33
38,376,893.54
1,376,678,036.84
34
33,961,852.69
1,218,299,147.64
35
30,054,736.89
1,078,140,838.62
36
26,842,699.66
954,106,936.83
37
23,537,267.52
844,342,421.98
38
20,829,440.28
747,205,683.16
39
18,433,132.99
661,243,967.40
40
16,312,507.07
585,171,652.57
41
14,569,141.95
517,851,019.97
42
12,775,085.81
458,275,238.91
43
11,305,385.67
405,553,308.77
44
10,004,766.08
358,896,733.43
45
8,853,775.29
317,607,728.70
46
7,907,546.55
281,068,786.46
47
6,933,804.76
248,733,439.34
48
6,136,110.40
220,118,087.91
49
5,430,186.20
194,794,768.07
50
4,805,474.51
172,384,750.50
TOTAL
328,420,575,246.98
470,254,961,749.53
B/C
1.43
Tanah seluas 5000m2 dengan harga jual Rp 8,000,000/m2
Gedung seluas 1800m2 dengan nilai jual Rp 4,000,000/m2 @ 15 lantai
Basement seluas 1800m2 dengan harga jual Rp 5,000,000/m2 @ 2 lantai
Ruko dengan harga jual Rp 3,600,000,000
1. NJOP Bumi : 5000 x 8,000,000
=
40,000,000,000.00
2. NJOP Bangunan:
a) Gedung = 1800 x 4,000,000 x 15
=
108,000,000,000.00
b) Basement = 1800 x 5,000,000 x 2
=
18,000,000,000.00
c) Ruko
=
3,600,000,000.00
NJOP total
169,600,000,000.00
NJOP tidak kena pajak
=
10,000,000.00
NJOP kena pajak
=
169,590,000,000.00
Tarif pajak efektif
=
0.25%
PBB
=
423,975,000.00.00
Despresiasi
Berdasarkan UU No. 36 Tahun 2008 pasal 11 ayat 1 dan 2, harta berwujud berupa bangunan hanya dapat disusutkan dengan menggunakan metode straight line. Dengan demikian, penyusutan dari gedung perkantoran ini adalah
Asumsi: Salvage Value sebesar Rp 0.00
Maka, Despresiasi pertahun Rp 3,511,900,000.00
CFD After Tax
Gedung jadi di tahun ke pertama,
Mulai pajak di tahun ke 2, dengan nilai despresiasi sebesar Rp 3,511,900,000.00
Tabel 9 CFD After Tax.
Tahun
Taxable Income
PPh
PBB
Net Cash Flow After Tax
Present Value After Tax
0
0.00
0.00
0.00
–131,655,400,000.00
–131,655,400,000.00
1
0.00
0.00
0.00
–53,226,348,000.00
–47,102,962,831.86
2
0.00
0.00
423,975,000
7,074,215,240.00
5,540,148,202.68
3
0.00
0.00
423,975,000
8,274,215,240.00
5,734,446,214.80
4
45,236,290,240.00
13,515,887,072
423,975,000
34,808,328,168.00
21,348,599,544.64
5
46,436,290,240.00
13,875,887,072
423,975,000
35,648,328,168.00
19,348,484,314.95
6
47,616,290,240.00
14,229,887,072
423,975,000
36,474,328,168.00
17,519,295,594.77
7
48,836,290,240.00
14,595,887,072
423,975,000
37,328,328,168.00
15,866,803,201.06
8
50,036,290,240.00
14,955,887,072
423,975,000
38,168,328,168.00
14,357,393,045.84
9
51,236,290,240.00
15,315,887,072
423,975,000
39,008,328,168.00
12,985,280,822.74
10
52,436,290,240.00
15,675,887,072
423,975,000
39,848,328,168.00
11,738,853,170.60
11
53,616,290,240.00
16,029,887,072
423,975,000
40,674,328,168.00
10,603,701,899.25
12
56,609,942,240.00
16,927,982,672
423,975,000
42,769,884,568.00
9,867,264,190.17
13
60,823,452,000.00
18,192,035,600
423,975,000
45,719,341,400.00
9,334,266,590.37
14
61,423,452,000.00
18,372,035,600
423,975,000
46,139,341,400.00
8,336,297,063.19
15
62,023,452,000.00
18,552,035,600
423,975,000
46,559,341,400.00
7,444,408,154.47
16
62,603,452,000.00
18,726,035,600
423,975,000
46,965,341,400.00
6,645,419,292.19
17
63,223,452,000.00
18,912,035,600
423,975,000
47,399,341,400.00
5,935,246,602.69
18
63,823,452,000.00
19,092,035,600
423,975,000
47,819,341,400.00
5,298,971,793.01
19
64,423,452,000.00
19,272,035,600
423,975,000
48,239,341,400.00
4,730,542,446.17
20
65,023,452,000.00
19,452,035,600
423,975,000
48,659,341,400.00
4,222,769,312.66
21
65,603,452,000.00
19,626,035,600
423,975,000
49,065,341,400.00
3,768,144,180.86
22
66,223,452,000.00
19,812,035,600
423,975,000
49,499,341,400.00
3,364,136,925.63
23
70,168,052,000.00
20,995,415,600
423,975,000
52,260,561,400.00
3,143,184,474.38
24
72,022,100,000.00
21,551,630,000
423,975,000
53,558,395,000.00
2,850,656,642.44
25
72,022,100,000.00
21,551,630,000
423,975,000
53,558,395,000.00
2,522,704,993.31
26
72,002,100,000.00
21,545,630,000
423,975,000
53,544,395,000.00
2,231,898,730.95
27
72,022,100,000.00
21,551,630,000
423,975,000
53,558,395,000.00
1,975,648,048.64
28
72,022,100,000.00
21,551,630,000
423,975,000
53,558,395,000.00
1,748,361,104.99
29
72,022,100,000.00
21,551,630,000
423,975,000
53,558,395,000.00
1,547,222,216.81
30
72,022,100,000.00
21,551,630,000
423,975,000
53,558,395,000.00
1,369,223,200.72
31
72,002,100,000.00
21,545,630,000
423,975,000
53,544,395,000.00
1,211,385,212.37
32
72,022,100,000.00
21,551,630,000
423,975,000
53,558,395,000.00
1,072,302,608.44
33
72,022,100,000.00
21,551,630,000
423,975,000
53,558,395,000.00
948,940,361.45
34
72,022,100,000.00
21,551,630,000
423,975,000
53,558,395,000.00
839,770,231.37
35
72,022,100,000.00
21,551,630,000
423,975,000
53,558,395,000.00
743,159,496.79
36
72,002,100,000.00
21,545,630,000
423,975,000
53,544,395,000.00
657,491,360.34
37
72,022,100,000.00
21,551,630,000
423,975,000
53,558,395,000.00
582,002,895.13
38
72,022,100,000.00
21,551,630,000
423,975,000
53,558,395,000.00
515,046,809.85
39
72,022,100,000.00
21,551,630,000
423,975,000
53,558,395,000.00
455,793,637.03
40
72,022,100,000.00
21,551,630,000
423,975,000
53,558,395,000.00
403,357,200.91
41
72,002,100,000.00
21,545,630,000
423,975,000
53,544,395,000.00
356,859,968.66
42
72,022,100,000.00
21,551,630,000
423,975,000
53,558,395,000.00
315,887,854.11
43
72,022,100,000.00
21,551,630,000
423,975,000
53,558,395,000.00
279,546,773.55
44
72,022,100,000.00
21,551,630,000
423,975,000
53,558,395,000.00
247,386,525.27
45
72,022,100,000.00
21,551,630,000
423,975,000
53,558,395,000.00
218,926,128.55
46
72,002,100,000.00
21,545,630,000
423,975,000
53,544,395,000.00
193,689,293.75
47
72,022,100,000.00
21,551,630,000
423,975,000
53,558,395,000.00
171,451,271.48
48
72,022,100,000.00
21,551,630,000
423,975,000
53,558,395,000.00
151,726,788.92
49
72,022,100,000.00
21,551,630,000
423,975,000
53,558,395,000.00
134,271,494.62
50
72,022,100,000.00
21,551,630,000
423,975,000
53,558,395,000.00
118,824,331.52
Net Present Value After Tax
52,238,829,387.24
IRR After Tax
16%
Payback Period After Tax
Tahun ke-8
B/C After Tax
1.301578154
Pengaruh Inflasi
Inflation rate (f) sebesar 7% dan MARRf sebesar 20.91%.
Tabel 10 Pengaruh Inflasi.
Tahun
Parameter
Pembayaran Hutang
Net Cash Flow
Total Operating Cost
Total Revenue
Total Biaya tiap 5 Tahun
0
131,655,400,000.00
0.00
0.00
0.00
(131,655,400,000.00)
1
(53,226,348,000.00)
0.00
0.00
0.00
(53,226,348,000.00)
2
(2,166,000,000.00)
38,850,000,000.00
0.00
(29,185,809,760.00)
7,498,190,240.00
3
(2,317,620,000.00)
38,850,000,000.00
0.00
(27,985,809,760.00)
8,546,570,240.00
4
(2,479,853,400.00)
77,700,000,000.00
0.00
(26,785,809,760.00)
48,434,336,840.00
5
(2,653,443,138.00)
83,139,000,000.00
0.00
(25,585,809,760.00)
54,899,747,102.00
6
(2,839,184,157.66)
88,958,730,000.00
(30,014,607.04)
(24,385,809,760.00)
61,703,721,475.30
7
(3,037,927,048.70)
95,185,841,100.00
0.00
(23,185,809,760.00)
68,962,104,291.30
8
(3,250,581,942.10)
101,848,849,977.00
0.00
(21,985,809,760.00)
76,612,458,274.90
9
(3,478,122,678.05)
108,978,269,475.39
0.00
(20,785,809,760.00)
84,714,337,037.34
10
(3,721,591,265.52)
116,606,748,338.67
0.00
(19,585,809,760.00)
93,299,347,313.15
11
(3,982,102,654.10)
124,769,220,722.37
(42,097,039.05)
(18,385,809,760.00)
102,359,211,269.23
12
(4,260,849,839.89)
133,503,066,172.94
0.00
(15,412,157,760.00)
113,830,058,573.05
13
(4,559,109,328.68)
142,848,280,805.05
0.00
(11,198,648,000.00)
127,090,523,476.37
14
(4,878,246,981.69)
152,847,660,461.40
0.00
(10,598,648,000.00)
137,370,765,479.71
15
(5,219,724,270.41)
163,546,996,693.70
0.00
(9,998,648,000.00)
148,328,624,423.29
16
(5,585,104,969.34)
174,995,286,462.26
(59,043,274.97)
(9,398,648,000.00)
159,952,490,217.95
17
(5,976,062,317.19)
187,244,956,514.61
0.00
(8,798,648,000.00)
172,470,246,197.42
18
(6,394,386,679.39)
200,352,103,470.64
0.00
(8,198,648,000.00)
185,759,068,791.24
19
(6,841,993,746.95)
214,376,750,713.58
0.00
(7,598,648,000.00)
199,936,108,966.63
20
(7,320,933,309.24)
229,383,123,263.53
0.00
(6,998,648,000.00)
215,063,541,954.30
21
(7,833,398,640.88)
245,439,941,891.98
(82,811,247.50)
(6,398,648,000.00)
231,125,084,003.60
22
(8,381,736,545.75)
262,620,737,824.42
0.00
(5,798,648,000.00)
248,440,353,278.67
23
(8,968,458,103.95)
281,004,189,472.13
0.00
(1,854,048,000.00)
270,181,683,368.18
24
(9,596,250,171.22)
300,674,482,735.18
0.00
0.00
291,078,232,563.95
25
(10,267,987,683.21)
321,721,696,526.64
0.00
0.00
311,453,708,843.43
26
(10,986,746,821.03)
344,242,215,283.50
(116,147,058.50)
0.00
333,139,321,403.97
27
(11,755,819,098.51)
368,339,170,353.35
0.00
0.00
356,583,351,254.84
28
(12,578,726,435.40)
394,122,912,278.08
0.00
0.00
381,544,185,842.68
29
(13,459,237,285.88)
421,711,516,137.55
0.00
0.00
408,252,278,851.67
30
(14,401,383,895.89)
451,231,322,267.18
0.00
0.00
436,829,938,371.29
31
(15,409,480,768.60)
482,817,514,825.88
(162,902,257.91)
0.00
467,245,131,799.36
32
(16,488,144,422.41)
516,614,740,863.69
0.00
0.00
500,126,596,441.29
33
(17,642,314,531.97)
552,777,772,724.15
0.00
0.00
535,135,458,192.18
34
(18,877,276,549.21)
591,472,216,814.84
0.00
0.00
572,594,940,265.63
35
(20,198,685,907.66)
632,875,271,991.88
0.00
0.00
612,676,586,084.22
36
(21,612,593,921.19)
677,176,541,031.31
(228,478,843.77)
0.00
655,335,468,266.35
37
(23,125,475,495.68)
724,578,898,903.50
0.00
0.00
701,453,423,407.83
38
(24,744,258,780.37)
775,299,421,826.75
0.00
0.00
750,555,163,046.37
39
(26,476,356,895.00)
829,570,381,354.62
0.00
0.00
803,094,024,459.62
40
(28,329,701,877.65)
887,640,308,049.44
0.00
0.00
859,310,606,171.79
41
(30,312,781,009.09)
949,775,129,612.90
(320,453,397.76)
0.00
919,141,895,206.06
42
(32,434,675,679.72)
1,016,259,388,685.81
0.00
0.00
983,824,713,006.09
43
(34,705,102,977.30)
1,087,397,545,893.81
0.00
0.00
1,052,692,442,916.51
44
(37,134,460,185.71)
1,163,515,374,106.38
0.00
0.00
1,126,380,913,920.67
45
(39,733,872,398.71)
1,244,961,450,293.83
0.00
0.00
1,205,227,577,895.11
46
(42,515,243,466.62)
1,332,108,751,814.39
(449,452,467.64)
0.00
1,289,144,055,880.14
47
(45,491,310,509.29)
1,425,356,364,441.40
0.00
0.00
1,379,865,053,932.11
48
(48,675,702,244.94)
1,525,131,309,952.30
0.00
0.00
1,476,455,607,707.36
49
(52,083,001,402.08)
1,631,890,501,648.96
0.00
0.00
1,579,807,500,246.88
50
(55,728,811,500.23)
1,746,122,836,764.39
0.00
0.00
1,690,394,025,264.16
Tabel 11 CFD After Tax dan Inflasi.
Tahun
Taxable income
PPh
PBB
Net Cash Flow After Tax & Inflation
Present Value After Tax
0
0.00
0.00
0.00
(131,655,400,000.00)
(131,655,400,000.00)
1
0.00
0.00
0.00
(53,226,348,000.00)
(44,021,460,590.52)
2
3,986,290,240.00
1,140,887,072
484,108,500.00
5,873,194,668.00
4,017,445,126.26
3
5,034,670,240.00
1,455,401,072
508,367,845.00
6,582,801,323.00
3,724,123,581.90
4
44,922,436,840.00
13,421,731,052
543,955,344.20
34,468,650,443.85
16,127,809,875.66
5
51,387,847,102.00
15,361,354,131
582033968.20
38,956,359,003.16
15,075,344,785.16
6
58,191,821,475.30
17,402,546,443
622,778,096.00
43,678,396,936.69
13,979,555,535.36
7
65,450,204,291.30
19,580,061,287
666,374,312.70
48,715,668,691.17
12,895,349,583.81
8
73,100,558,274.90
21,875,167,482
713,022,264.60
54,024,268,527.80
11,827,450,143.41
9
81,202,437,037.34
24,305,731,111
762,935,573.20
59,645,670,352.98
10,799,880,086.16
10
89,787,447,313.15
26,881,234,194
816,342,813.30
65,601,770,305.93
9,824,112,962.61
11
98,847,311,269.23
29,599,193,381
873,488,560.20
71,886,529,328.25
8,903,547,573.85
12
110,318,158,573.05
33,040,447,572
934,634,509.40
79,854,976,491.72
8,180,038,206.66
13
123,578,623,476.37
37,018,587,043
1,000,060,675.00
89,071,875,758.38
7,546,259,281.08
14
133,858,865,479.71
40,102,659,644
1,070,066,672.00
96,198,039,163.46
6,740,546,722.79
15
144,816,724,423.29
43,390,017,327
1,144,973,089.00
103,793,634,006.91
6,015,024,493.37
16
156,440,590,217.95
46,877,177,065
1,225,122,956.00
111,850,190,196.91
5,360,942,982.77
17
168,958,346,197.42
50,632,503,859
1,310,883,313.00
120,526,859,025.65
4,777,779,239.05
18
182,247,168,791.24
54,619,150,637
1,402,646,894.00
129,737,271,259.44
4,253,483,752.46
19
196,424,208,966.63
58,872,262,690
1,500,833,927.00
139,563,012,349.60
3,784,322,436.09
20
211,551,641,954.30
63,410,492,586
1,605,894,052.00
150,047,155,316.08
3,364,986,628.89
21
227,613,184,003.60
68,228,955,201
1,718,308,386.00
161,177,820,416.95
2,989,500,525.08
22
244,928,453,278.67
73,423,535,984
1,838,591,723.00
173,178,225,572.51
2,656,589,303.88
23
266,669,783,368.18
79,945,935,010
1,967,294,893.00
188,268,453,464.59
2,388,616,721.31
24
287,566,332,563.95
86,214,899,769
2,105,007,286.00
202,758,325,509.11
2,127,577,495.31
25
307,941,808,843.43
92,327,542,653
2,252,359,546.00
216,873,806,644.75
1,882,138,477.14
26
329,627,421,403.97
98,833,226,421
2,410,026,464.00
231,896,068,518.93
1,664,468,710.34
27
353,071,451,254.84
105,866,435,376
2,578,730,066.00
248,138,185,812.07
1,473,036,916.81
28
378,032,285,842.68
113,354,685,753
2,759,242,921.00
265,430,257,168.92
1,303,191,489.43
29
404,740,378,851.67
121,367,113,656
2,952,391,675.00
283,932,773,520.74
1,152,951,691.64
30
433,318,038,371.29
129,940,411,511
3,159,060,843.00
303,730,466,017.20
1,020,050,613.59
31
463,733,231,799.36
139,064,969,540
3,380,196,852.00
324,799,965,407.86
902,167,375.82
32
496,614,696,441.29
148,929,408,932
3,616,812,381.00
347,580,375,127.59
798,480,234.64
33
531,623,558,192.18
159,432,067,458
3,869,990,998.00
371,833,399,736.52
706,472,235.88
34
569,083,040,265.63
170,669,912,080
4,140,892,118.00
397,784,136,068.07
625,074,726.32
35
609,164,686,084.22
182,694,405,825
4,430,756,316.00
425,551,423,942.84
553,062,620.60
36
651,823,568,266.35
195,492,070,480
4,740,911,008.00
455,102,486,778.20
489,180,623.80
37
697,941,523,407.83
209,327,457,022
5,072,776,529.00
487,053,189,856.66
432,986,353.44
38
747,043,263,046.37
224,057,978,914
5,427,872,636.00
521,069,311,496.62
383,116,707.42
39
799,582,124,459.62
239,819,637,338
5,807,825,470.00
557,466,561,651.39
338,994,144.61
40
855,798,706,171.79
256,684,611,852
6,214,375,003.00
596,411,619,316.98
299,955,789.72
41
915,629,995,206.06
274,633,998,562
6,649,383,003.00
637,858,513,640.74
265,322,016.04
42
980,312,813,006.09
294,038,843,902
7,114,841,564.00
682,671,027,540.51
234,854,119.70
43
1,049,180,542,916.51
314,699,162,875
7,612,882,223.00
730,380,397,818.35
207,813,424.34
44
1,122,869,013,920.67
336,805,704,176
8,145,785,729.00
781,429,424,015.64
183,887,423.89
45
1,201,715,677,895.11
360,459,703,369
8,715,992,480.00
836,051,882,046.73
162,717,130.26
46
1,285,632,155,880.14
385,634,646,764
9,326,113,703.00
894,183,295,412.66
143,934,326.05
47
1,376,353,153,932.11
412,850,946,180
9,978,943,413.00
957,035,164,339.80
127,409,995.52
48
1,472,943,707,707.36
441,828,112,312
10,677,471,202.00
1,023,950,024,193.59
112,743,663.97
49
1,576,295,600,246.88
472,833,680,074
11,424,895,936.00
1,095,548,924,237.14
99,766,087.16
50
1,686,882,125,264.16
506,009,637,579
12,224,640,401.00
1,172,159,747,283.74
88,282,728.04
Net Present Value After Tax Rp 7,335,486,078.57 IRR After Tax 21.3338%
B/C After Tax 1.041755562 Payback Period After Tax tahun ke-8
Tabel 12 PBB Setelah Inflasi.
Tahun
Harga Tanah
NJOP Bumi
NJOP Bangunan
NJOP Total
NJOP Tidak Kena Pajak
NJOP Kena Pajak
Tarif PBB
0
8,000,000.00
-
-
-
-
-
-
1
8,560,000.00
-
-
-
-
-
-
2
9,159,200.00
45,796,000,000.00
144,257,400,000.00
193,653,400,000.00
10,000,000.00
193,643,400,000.00
484,108,500.00
3
9,800,344.00
49,001,720,000.00
154,355,418,000.00
203,357,138,000.00
10,000,000.00
203,347,138,000.00
508,367,845.00
4
10,486,368.08
52,431,840,400.00
165,160,297,260.00
217,592,137,660.00
10,000,000.00
217,582,137,660.00
543,955,344.15
5
11,220,413.85
56,102,069,228.00
176,721,518,068.20
232,823,587,296.20
10,000,000.00
232,813,587,296.20
582,033,968.24
6
12,005,842.81
60,029,214,073.96
189,092,024,332.97
249,121,238,406.93
10,000,000.00
249,111,238,406.93
622,778,096.02
7
12,846,251.81
64,231,259,059.14
202,328,466,036.28
266,559,725,095.42
10,000,000.00
266,549,725,095.42
666,374,312.74
8
13,745,489.44
68,727,447,193.28
216,491,458,658.82
285,218,905,852.10
10,000,000.00
285,208,905,852.10
713,022,264.63
9
14,707,673.70
73,538,368,496.81
231,645,860,764.94
305,184,229,261.75
10,000,000.00
305,174,229,261.75
762,935,573.15
10
15,737,210.86
78,686,054,291.58
247,861,071,018.49
326,547,125,310.07
10,000,000.00
326,537,125,310.07
816,342,813.28
11
16,838,815.62
84,194,078,091.99
265,211,345,989.78
349,405,424,081.77
10,000,000.00
349,395,424,081.77
873,488,560.20
12
18,017,532.71
90,087,663,558.43
283,776,140,209.06
373,863,803,767.50
10,000,000.00
373,853,803,767.50
934,634,509.42
13
19,278,760.00
96,393,800,007.52
303,640,470,023.70
400,034,270,031.22
10,000,000.00
400,024,270,031.22
1,000,060,675.08
14
20,628,273.20
103,141,366,008.05
324,895,302,925.36
428,036,668,933.41
10,000,000.00
428,026,668,933.41
1,070,066,672.33
15
22,072,252.33
110,361,261,628.61
347,637,974,130.13
457,999,235,758.75
10,000,000.00
457,989,235,758.75
1,144,973,089.40
16
23,617,309.99
118,086,549,942.62
371,972,632,319.24
490,059,182,261.86
10,000,000.00
490,049,182,261.86
1,225,122,955.65
17
25,270,521.69
126,352,608,438.60
398,010,716,581.59
524,363,325,020.19
10,000,000.00
524,353,325,020.19
1,310,883,312.55
18
27,039,458.21
135,197,291,029.30
425,871,466,742.30
561,068,757,771.60
10,000,000.00
561,058,757,771.60
1,402,646,894.43
19
28,932,220.28
144,661,101,401.35
455,682,469,414.26
600,343,570,815.61
10,000,000.00
600,333,570,815.61
1,500,833,927.04
20
30,957,475.70
154,787,378,499.45
487,580,242,273.26
642,367,620,772.71
10,000,000.00
642,357,620,772.71
1,605,894,051.93
21
33,124,499.00
165,622,494,994.41
521,710,859,232.39
687,333,354,226.80
10,000,000.00
687,323,354,226.80
1,718,308,385.57
22
35,443,213.93
177,216,069,644.02
558,230,619,378.65
735,446,689,022.67
10,000,000.00
735,436,689,022.67
1,838,591,722.56
23
37,924,238.90
189,621,194,519.10
597,306,762,735.16
786,927,957,254.26
10,000,000.00
786,917,957,254.26
1,967,294,893.14
24
40,578,935.63
202,894,678,135.44
639,118,236,126.62
842,012,914,262.06
10,000,000.00
842,002,914,262.06
2,105,007,285.66
25
43,419,461.12
217,097,305,604.92
683,856,512,655.48
900,953,818,260.40
10,000,000.00
900,943,818,260.40
2,252,359,545.65
26
46,458,823.40
232,294,116,997.26
731,726,468,541.37
964,020,585,538.63
10,000,000.00
964,010,585,538.63
2,410,026,463.85
27
49,710,941.04
248,554,705,187.07
782,947,321,339.26
1,031,502,026,526.33
10,000,000.00
1,031,492,026,526.33
2,578,730,066.32
28
53,190,706.91
265,953,534,550.16
837,753,633,833.01
1,103,707,168,383.18
10,000,000.00
1,103,697,168,383.18
2,759,242,920.96
29
56,914,056.39
284,570,281,968.67
896,396,388,201.32
1,180,966,670,170.00
10,000,000.00
1,180,956,670,170.00
2,952,391,675.42
30
60,898,040.34
304,490,201,706.48
959,144,135,375.42
1,263,634,337,081.90
10,000,000.00
1,263,624,337,081.90
3,159,060,842.70
31
65,160,903.17
325,804,515,825.94
1,026,284,224,851.70
1,352,088,740,677.63
10,000,000.00
1,352,078,740,677.63
3,380,196,851.69
32
69,722,166.39
348,610,831,933.75
1,098,124,120,591.31
1,446,734,952,525.06
10,000,000.00
1,446,724,952,525.06
3,616,812,381.31
33
74,602,718.03
373,013,590,169.11
1,174,992,809,032.71
1,548,006,399,201.82
10,000,000.00
1,547,996,399,201.82
3,869,990,998.00
34
79,824,908.30
399,124,541,480.95
1,257,242,305,665.00
1,656,366,847,145.95
10,000,000.00
1,656,356,847,145.95
4,140,892,117.86
35
85,412,651.88
427,063,259,384.62
1,345,249,267,061.54
1,772,312,526,446.16
10,000,000.00
1,772,302,526,446.16
4,430,756,316.12
36
91,391,537.51
456,957,687,541.54
1,439,416,715,755.85
1,896,374,403,297.39
10,000,000.00
1,896,364,403,297.39
4,740,911,008.24
37
97,788,945.13
488,944,725,669.45
1,540,175,885,858.76
2,029,120,611,528.21
10,000,000.00
2,029,110,611,528.21
5,072,776,528.82
38
104,634,171.29
523,170,856,466.31
1,647,988,197,868.88
2,171,159,054,335.19
10,000,000.00
2,171,149,054,335.19
5,427,872,635.84
39
111,958,563.28
559,792,816,418.95
1,763,347,371,719.70
2,323,140,188,138.65
10,000,000.00
2,323,130,188,138.65
5,807,825,470.35
40
119,795,662.71
598,978,313,568.28
1,886,781,687,740.08
2,485,760,001,308.35
10,000,000.00
2,485,750,001,308.35
6,214,375,003.27
41
128,181,359.10
640,906,795,518.06
2,018,856,405,881.88
2,659,763,201,399.94
10,000,000.00
2,659,753,201,399.94
6,649,383,003.50
42
137,154,054.24
685,770,271,204.32
2,160,176,354,293.61
2,845,946,625,497.94
10,000,000.00
2,845,936,625,497.94
7,114,841,563.74
43
146,754,838.04
733,774,190,188.62
2,311,388,699,094.17
3,045,162,889,282.79
10,000,000.00
3,045,152,889,282.79
7,612,882,223.21
44
157,027,676.70
785,138,383,501.83
2,473,185,908,030.76
3,258,324,291,532.59
10,000,000.00
3,258,314,291,532.59
8,145,785,728.83
45
168,019,614.07
840,098,070,346.96
2,646,308,921,592.91
3,486,406,991,939.87
10,000,000.00
3,486,396,991,939.87
8,715,992,479.85
46
179,780,987.05
898,904,935,271.24
2,831,550,546,104.41
3,730,455,481,375.66
10,000,000.00
3,730,445,481,375.66
9,326,113,703.44
47
192,365,656.15
961,828,280,740.23
3,029,759,084,331.72
3,991,587,365,071.95
10,000,000.00
3,991,577,365,071.95
9,978,943,412.68
48
205,831,252.08
1,029,156,260,392.05
3,241,842,220,234.94
4,270,998,480,626.99
10,000,000.00
4,270,988,480,626.99
10,677,471,201.57
49
220,239,439.72
1,101,197,198,619.49
3,468,771,175,651.39
4,569,968,374,270.88
10,000,000.00
4,569,958,374,270.88
11,424,895,935.68
50
235,656,200.50
1,178,281,002,522.85
3,711,585,157,946.99
4,889,866,160,469.84
10,000,000.00
4,889,856,160,469.84
12,224,640,401.17
Analisa Sensitivitas
Tabel 13 Cash Flow After Tax & Inflation (Variasi MARR).
Tahun
Net Cash Flow
MARRf 12%
MARRf 16%
MARRf 20%
MARRf 24%
0
(131,655,400,000.00)
(131,655,400,000.00)
(131,655,400,000.00)
(131,655,400,000.00)
(131,655,400,000.00)
1
(53,226,348,000.00)
(47,523,525,000.00)
(45,884,782,758.62)
(44,355,290,000.00)
(42,924,474,193.55)
2
5,873,194,668.00
4,682,074,830.99
4,364,740,389.42
4,078,607,408.33
3,819,715,574.92
3
6,582,801,323.00
4,685,507,956.99
4,217,322,180.98
3,809,491,506.37
3,452,595,437.28
4
34,468,650,443.85
21,905,450,495.28
19,036,728,796.09
16,622,613,061.27
14,579,329,089.03
5
38,956,359,003.16
22,104,884,299.41
18,547,629,554.55
15,655,686,970.79
13,288,315,584.01
6
43,678,396,936.69
22,128,835,211.27
17,927,459,718.96
14,627,806,758.74
12,015,354,251.95
7
48,715,668,691.17
22,036,494,507.06
17,237,042,151.07
13,595,649,064.42
10,807,291,660.45
8
54,024,268,527.80
21,819,495,962.23
16,478,777,185.87
12,564,318,209.44
9,665,301,680.21
9
59,645,670,352.98
21,508,826,676.03
15,684,006,763.31
11,559,730,508.66
8,605,651,556.56
10
65,601,770,305.93
21,122,014,311.48
14,870,845,685.44
10,595,052,151.87
7,633,060,552.61
11
71,886,529,328.25
20,665,659,388.47
14,047,842,678.80
9,675,063,184.24
6,745,419,746.67
12
79,854,976,491.72
20,496,783,513.16
13,452,596,480.61
8,956,267,031.22
6,042,849,307.22
13
89,071,875,758.38
20,412,974,990.27
12,935,604,782.56
8,325,003,017.04
5,435,740,194.14
14
96,198,039,163.46
19,684,024,747.65
12,043,545,856.69
7,492,534,909.31
4,734,374,705.34
15
103,793,634,006.91
18,962,708,876.09
11,202,136,988.71
6,736,774,755.88
4,119,508,850.39
16
111,850,190,196.91
18,245,188,902.38
10,406,600,897.65
6,049,741,111.84
3,580,055,540.96
17
120,526,859,025.65
17,554,054,947.31
9,667,140,308.61
5,432,536,538.71
3,111,108,741.21
18
129,737,271,259.44
16,870,981,577.50
8,970,588,872.81
4,873,066,414.74
2,700,688,072.15
19
139,563,012,349.60
16,204,211,537.02
8,318,950,486.76
4,368,442,864.17
2,342,924,623.29
20
150,047,155,316.08
15,554,903,201.18
7,710,241,508.17
3,913,837,997.47
2,031,393,521.07
21
161,177,820,416.95
14,918,556,469.09
7,139,823,974.79
3,503,475,716.06
1,759,745,608.86
22
173,178,225,572.51
14,311,883,312.75
6,613,289,315.34
3,136,937,546.55
1,524,811,686.62
23
188,268,453,464.59
13,891,944,311.32
6,197,889,125.98
2,841,900,680.41
1,336,838,044.21
24
202,758,325,509.11
13,358,144,953.94
5,754,226,522.84
2,550,520,336.87
1,161,069,594.24
25
216,873,806,644.75
12,757,234,411.42
5,305,879,366.87
2,273,400,500.29
1,001,532,330.58
26
231,896,068,518.93
12,179,369,220.31
4,890,864,893.56
2,025,727,335.57
863,633,681.98
27
248,138,185,812.07
11,636,087,827.92
4,511,572,009.51
1,806,341,914.32
745,260,499.61
28
265,430,257,168.92
11,113,370,497.06
4,160,319,931.80
1,610,184,117.38
642,899,729.90
29
283,932,773,520.74
10,614,336,881.78
3,836,487,938.52
1,435,355,207.82
554,608,670.74
30
303,730,466,017.20
10,137,892,374.73
3,537,925,468.90
1,279,531,479.60
478,451,369.05
31
324,799,965,407.86
9,679,596,894.27
3,261,506,949.82
1,140,242,821.65
412,613,786.02
32
347,580,375,127.59
9,248,653,781.22
3,008,843,452.30
1,016,846,443.70
356,091,266.59
33
371,833,399,736.52
8,833,923,811.34
2,774,819,596.69
906,498,892.60
307,208,188.26
34
397,784,136,068.07
8,437,906,105.15
2,559,032,640.92
808,137,190.59
265,039,231.51
35
425,551,423,942.84
8,059,744,129.51
2,360,056,635.64
720,457,615.52
228,661,510.15
36
455,102,486,778.20
7,695,917,305.68
2,175,813,146.20
642,072,916.06
197,209,822.75
37
487,053,189,856.66
7,353,761,714.39
2,007,385,536.26
572,624,978.20
170,205,676.87
38
521,069,311,496.62
7,024,422,649.66
1,851,364,387.30
510,514,575.81
146,849,157.71
39
557,466,561,651.39
6,709,898,307.22
1,707,486,357.74
455,145,471.96
126,698,974.88
40
596,411,619,316.98
6,409,515,306.38
1,574,804,063.47
405,785,247.39
109,314,730.72
41
637,858,513,640.74
6,120,479,209.78
1,451,933,742.46
361,653,996.41
94,283,406.39
42
682,671,027,540.51
5,848,635,011.06
1,339,602,422.75
322,551,553.45
81,376,816.31
43
730,380,397,818.35
5,586,941,630.93
1,235,536,478.42
287,577,913.83
70,212,857.31
44
781,429,424,015.64
5,336,994,591.29
1,139,562,722.67
256,398,177.62
60,580,884.94
45
836,051,882,046.73
5,098,262,687.61
1,051,050,815.82
228,600,489.87
52,270,589.32
46
894,183,295,412.66
4,868,526,178.12
969,078,699.79
203,746,067.04
45,084,684.51
47
957,035,164,339.80
4,652,440,523.57
894,133,572.12
181,722,762.87
38,914,252.52
48
1,023,950,024,193.59
4,444,405,459.71
824,698,638.73
162,023,851.00
33,576,689.36
49
1,095,548,924,237.14
4,245,693,764.01
760,659,519.28
144,461,034.45
28,971,381.42
50
1,172,159,747,283.74
4,055,885,348.04
701,596,383.96
128,802,561.81
24,997,843.52
TOTAL(NPV)
422,096,575,601.04
145,176,862,838.89
24,840,772,861.20
36,950,182,537.25
Gambar 1 Analisis Sensitivitas (Variasi MARR)
BAB 3
PENUTUP
Kesimpulan
Dari perhitungan yang telah dilakukan dalam menganalisa kelayakan ekonomis proyek pembangunan gedung perkantoran ialah;
Untuk perhitungan CFD before tax, waktu kembali modal pada tahun ke tujuh dan IRR sebesar 19.54%.
Sedangkan perhitungan CFD after tax, waktu kembali modal pada tahun ke delapan dan IRR sebesar 16%.
Dari perhitungan benefit over cost after tax diperoleh sebesar 1.3, secara ekonomi proyek ini menguntungkan.
Pendapatan yang diperoleh dipengaruhi depresiasi dan inflasi.
Pengaruh inflasi membuat benefit over cost after tax mengalami penuruan, sehingga hanya sebesar 1.04.
Saran
Dari analisa ekonomi layak untuk membuat proyek gedung perkantoran di Jalan Juanda. Dengan keuntungan yang cukup besar dengan IRR after tax 21.3338% dengan memperhitungkan inflasi, sehingga pembuatan gedung perkantoran merupakan alternatif yang feasible untuk dilakukan oleh kontraktor.
REFERENSI
[1] Blank, Leland T. dan Tarquin, Anthony J. 2012. Engineering Economy International Edition. Ed. ke-7. New York: McGraw-Hill Companies, Inc.
[2]
LAMPIRAN
Lampiran 1 Sketsa Denah Lokasi.
Lampiran 2 Sketsa Tampak Samping Gedung Perkantoran.
Lampiran 3 Sketsa Denah Lantai Perkantoran.
Lampiran 4 Sketsa Denah Parkir Kendaraan Bermotor.