伊人直播

A lease is granted for a fixed term of ten years and the rent payable in each year (per the lease document) is as follows:

Year	Rent payable
Year 1	Rent 拢4000
Year 2	Rent 拢5000
Year 3	Rent 拢6000
Year 4	Rent 拢7000
Year 5	Rent 拢8000
Year 6	Rent 拢9000
Year 7	Rent 拢9500
Year 8	Rent 拢10000
Year 9	Rent 拢10500
Year 10	Rent 拢11000

The net present value (NPV) of the rental over this period is calculated as follows:

Year	Calculation	Net Present Value (NPV)
Year 1	4,000/(1+0.035)	拢3,864.73
Year 2	5,000/[(1+0.035) x (1+0.035)]	拢4,667.55
Year 3	6,000/[(1+0.035) x (1+0.035) x (1+0.035)]	拢5,411.66
Year 4	7,000/[(1+0.035) x (1+0.035) x (1+0.035) x (1+0.035)]	拢6,100.10
Year 5	8,000/[(1+0.035) x (1+0.035) x (1+0.035) x (1+0.035) x (1+0.035)]	拢6,735.79
Year 6	8000/[(1+0.035) x (1+0.035) x (1+0.035) x (1+0.035) x (1+0.035) x (1+0.035)]	拢6508.00
Year 7	8000/[(1+0.035) x (1+0.035) x (1+0.035) x (1+0.035) x (1+0.035) x (1+0.035) x (1+0.035)]	拢6287.93
Year 8	8000/[(1+0.035) x (1+0.035) x (1+0.035) x (1+0.035) x (1+0.035) x (1+0.035) x (1+0.035) x (1+0.035)]	拢6075.29
Year 9	8000/[(1+0.035) x (1+0.035) x (1+0.035) x (1+0.035) x (1+0.035) x (1+0.035) x (1+0.035) x (1+0.035) x (1+0.035)]	拢5869.85
Year 10	8000/[(1+0.035) x (1+0.035) x (1+0.035) x (1+0.035) x (1+0.035) x (1+0.035) x (1+0.035) x (1+0.035) x (1+0.035) x (1+0.035)]	拢5671.35
听	Total	拢57192.25

The NPV is the sum of the calculated values, that is 拢57,192, rather than the 拢80,000 rent actually payable in accordance with the lease.

Note that for the purposes of the calculating NPV, the figure of 拢8,000 is used for years 6 to 10 inclusive as this is the highest rent payable in any consecutive twelve month period in the first five years.

This figure replaces the rent actually payable for these years for the purposes of the NPV calculation only. See FA03/SCH17A/PARA7