new product cost estimated $200,000 per year for 6 years. Annual profits of the product estimated $92,000 will begin the 5th year and each year will increase $20,000 + $20,000f  through year 18. Compute the present value using an interest rate of 20%. Show a cashflow diagram.

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Production Budget

A budget can be defined as a financial plan designed by an undertaking for a definite period in the future that can contribute towards enhancing the financial success of the business undertaking. It is used to estimate the revenue and expenses. The budget generally takes into account both current and future income and expenses.