Coker A.K. Fortran Programs for Chemical Process Design, Analysis, and Simulation
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PROGRAM PROG92
18
21
19
23
i0
i00
ii0
120
130
20
**************************************************************
* THIS PROGRAM CALCULATES THE DISCOUNT CASH FLOW RATE OF *
* RETURN FROM A SET OF YEARLY CASH FLOWS *
**************************************************************
YCF = YEARLY CASH FLOW
DCFRR = DISCOUNT CASH FLOW RATE OF RETURN
NOCF = THE NUMBER OF YEARLY CASH FLOW INCLUDING YEAR 0
**************************************************************
EXTERNAL DCFRR
DIMENSION YCF (I:i00)
OPEN (UNIT = 3, FILE = 'DATA92.DAT', STATUS = 'OLD', ERR = 18)
OPEN (UNIT = I, FILE = 'PRN')
READ THE NUMBER OF YEARLY CASH FLOWS INCLUDING YEAR 0: NOCF
READ (3, *, ERR=I9) NOCF
READ THE YEARLY CASH FLOWS: YCF
READ (3, *, ERR=I9) (YCF(K), K = i, NOCF)
GO TO i0
WRITE (*, 21)
FORMAT (6X, 'DATA FILE DOES NOT EXIST')
GO TO 999
WRITE (*, 23)
FORMAT ( 6X, "ERROR MESSAGE IN THE DATA VALUE ' )
GO TO 999
WRITE (I, i00)
FORMAT (///,20X,'DISCOUNT CASH FLOW RATE OF RETURN CALCULATION',
/1H ,78(1H*) )
WRITE (i, ii0) NOCF
FORMAT (/,IH0,15X,I4,3X,'YEARLY CASH FLOWS INCLUDING YEAR 0')
WRITE (I, 120)
FORMAT (//, 17X,'YEAR', 12X, 'CASH FLOW ($)', /IH ,78(IH*))
DO 20 K = i, NOCF
L=K- 1
WRITE (I, 130) L, YCF(K)
FORMAT (15X, I3, 11X, F14.2)
CONTINUE
WRITE (i, 140)
767
140
150
999
10
30
40
50
20
160
60
FORMAT ( 78 ( IH- ) )
DCF = DCFRR (YCF, NOCF)
WRITE (1, 150) DCF
FORMAT (/, 1HO, 6X, "THE DISCOUNT CASH FLOW RATE OF RETURN ( % ) : ',
3X, TS0, F8.3)
FORM FEED THE PRINTING PAPER TO TOP OF THE NEXT PAGE.
WRITE (i, *) CHAR(12)
CLOSE (3, STATUS = 'KEEP')
CLOSE (i)
STOP
END
****************************************************************
THIS PROGRAM CALCULATES THE DISCOUNT CASH FLOW RETURN OF A SET
OF YEARLY CASH FLOWS
****************************************************************
FUNCTION DCFRR (CF, IYRS)
DIMENSION CF (1:100)
XIF = i.
M = 1
PV = CF(IYRS)
IF (M .GT. I00) THEN
GO TO 20
ELSE
DO 30 J = i, IYRS - 1
PV = PV*XIF + CF(IYRS-J)
CONTINUE
ENDIF
DPV = (IYRS-I)*CF(IYRS)
DO 40 J = i, IYRS - 2
DPV = DPV*XIF + (IYRS-J-I)*CF(IYRS-J)
CONTINUE
P = PV/DPV
IF ((ABS(P)-I.E-4) .GT. 0.0) THEN
GO TO 50
ELSE
Xl
=
1/XIF - 1.
DCFRR = i00 * Xl
GO TO 60
ENDIF
XIF = XIF - P
M = M + 1
GO TO i0
WRITE (i, 160)
FORMAT (//,IH0,3X,'DCFRR CONVERGENCE OF NEXT CASH FLOW DOES ,
OCCUR AFTER I00 TRIES',/)
RETURN
END
768
i00
ii0
PROGRAM PROG93
****************************************************************
* ECONOMIC EVALUATION OF PROJECTS *
* THE PROGRAM CALCULATES YEARLY RETURN OF INVESTMENT AND THE *
* PRESENT VALUE AT A GIVEN DISCOUNT RATE. *
* THE PROGRAM ALSO CALCULATES THE NET PRESENT VALUE, THE *
* AVERAGE RATE OF RETURN, THE NET RETURN RATE AND THE PAYBACK *
* TIME 9
****************************************************************
x(1)
x(2)
x(3)
x(4)
x(5)
x(e)
x(7)
x(8)
x(9)
ARR
CF
CUCF
DF
N
NRR
NPV
PV
PVR
R
= ANNUAL REVENUE, $.
= ANNUAL OPERATING COST, $.
= DEPRECIATION BASE, $.
= PROJECT LIFE, YEARS.
= INITIAL LOAN, $.
= NUMBER OF PAYMENTS PER YEAR
= ANNUAL INTEREST, %.
= INVESTMENT CREDIT, %.
= TAX RATE, %.
= AVERAGE RATE OF RETURN
= CASH FLOW, $.
= CUMULATIVE CASH FLOW, $.
= DISCOUNT FACTOR
= NUMBER OF YEARS
= THE NET RETURN RATE
= THE NET PRESENT VALUE, $.
= PRESENT VALUE
= PRESENT VALUE RATIO
= RATE OF RETURN
***************************************************************
REAL*8, B, E, SI, BT, X, CF, CUCF, DF, PV, NPV
DIMENSION X(I:I00), CF(0:I00), CUCF(0:I00), DF(0:I00), PV(0:I00)
EXTERNAL FUN
INTEGER A, FL, N, TIME, TIME1
REAL NRR
OPEN (UNIT = 3, FILE = 'DATA93.DAT', STATUS = 'OLD', ERR = 18)
OPEN (UNIT = 1, FILE = 'PRN')
READ (3, *, ERR=I9)(X(I),I=I,9)
READ (3, *, ERR=19)R
WRITE (1, 100)
FORMAT (///, 22X,'ECONOMIC EVALUATION OF A PROJECT',
/1H
,78(1H*))
I = 1
WRITE (1, 110) I, X(I)
FORMAT (IH0, 6X, I2, 6X,'ANNUAL REVENUE $:',T55, F14.2)
769
I = I+l
WRITE (i, 120) I, X(I)
120 FORMAT (IH0, 6X, I2, 6X, 'ANNUAL OPERATING COST $:',T55, F14.2)
I = I + 1
WRITE (I, 130) I, X(I)
130 FORMAT (IH0, 6X, I2, 6X, 'DEPRECIATION BASE $:',T55, F14.2)
I = I + 1
WRITE (i, 140) I, X(I)
140 FORMAT (IH0, 6X, I2, 6X, "PROJECT LIFE, YEARS:',T55, F3.0)
I = I + 1
WRITE (i, 150) I, X(I)
150 FORMAT (IH0, 6X, I2, 6X, "INITIAL LOAN $:',T55, F14.2)
I = I + 1
WRITE (i, 160) I, X(I)
160 FORMAT (IH0,6X,I2,6X,'NUMBER OF PAYMENTS PER YEAR:',T55,F4.0)
I = I + 1
WRITE (I, 170) I, X(I)
170 FORMAT (IHO, 6X, I2, 6X, "ANNUAL INTEREST, %:',T55, F4.0)
I = I + 1
WRITE (i, 180) I, X(I)
180 FORMAT (IH0, 6X, I2, 6X, "INVESTMENT CREDIT, %:',T55, F4.0)
I = I + 1
WRITE (i, 190) I, X(I)
190 FORMAT (IH0, 6X, I2, 6X, "TAX RATE, %:',T55, F4.0)
I = I + 1
WRITE (i, 200) I, R
200 FORMAT (IH0, 6X, I2, 6X, 'DISCOUNT RATE %:',T55, F6.2)
WRITE (i, 210)
210 FORMAT ( 78 ( IH- ) )
GO TO 20
18 WRITE (*, 220)
220 FORMAT (6X, "DATA FILE DOES NOT EXIST')
GO TO 999
19 WRITE (*, 230)
230 FORMAT (6X, 'ERROR MESSAGE IN THE DATA VALUE')
GO TO 999
770
20 A = 0
FL = 0
22 IF (FL .EQ. i) THEN
GO TO 60
ELSE
Q7 = X(3)
Q5
= x(5)
Q2 = X(7)
x(7) = x(7)/(loo.o.x(6))
Q1 = X(8)
x(8) = (x(8)*x(3))/loo.o
P3 = (X(5)*X(7))/(I.O-(I.0+X(7))**(-X(4)*X(6)))
ENDIF
21 A = A + 1
D = (2.0*X(3))/X(4)
X(3) = X(3) - D
I
=
X(6)
25 B = B + (x(5)*x(7))
VAL1 = Q5 + (X(5)*X(7)) - P3
IF (VALI .GT. 0.0) THEN
GO TO 30
ELSE
WRITE (1, 240)
240 FORMAT (IH0, 6X, 'ERROR IN THE DATA VALUE')
WRITE (1, 250)
250 FORMAT (IH0,6X,'I.E. THE TOTAL LOAN PLUS THE INTEREST PER',/IH ,
* 6X,'PERIOD IS LESS THAN THE PAYMENTS')
ENDIF
GO TO 999
3o x(5) = x(5) + (x(5),x(7)) -
P3
I = I - 1
IF (I .LT. 0 .OR. I .GT. 0) THEN
GO TO 25
ELSE
WRITE (i, 260) A
260 FORMAT (/, IHI, 32X, "YEAR', 2X, I2, /IH , 78(IH*))
WRITE (i, 270) X(1)
270 FORMAT (IH0, 6X, 'REVENUE $:', T55, F14.2)
WRITE (i, 280) X(2)
280 FORMAT (IH0, 6X, 'OPERATING COST $:', T55, F14.2)
WRITE (i, 2907 D
290 FORMAT (IH0, 6X, 'DEPRECIATION $:', T55, F14.2)
WRITE (i, 300) B
300 FORMAT (IH0, 6X, 'INTEREST $:', T55, F14.2)
771
ENDIF
E = X(1) - X(2) - D- B
X1 = E
IF (Xl .LT. 0.0) THEN
GO TO 40
ELSE
Xl = E - PO
ENDIF
IF (Xl .LT. 0.0) THEN
GO TO 5O
ELSE
E = Xl
PO = 0.0
S1 = (E'X(9))/100.0
xl = sl - x(8)
ENDIF
IF (Xl .EQ. 0.0 .OR. Xl .GT. 0.0) THEN
GO TO 55
ELSE
X(8) = X(8) - Sl
Sl = 0.0
ENDIF
70 WRITE (i, 310) E
310 FORMAT (IH0, 6X, 'PRE-TAX INCOME $:', T55, F14.2)
WRITE (i, 320) X(9), Sl
320 FORMAT (IH0, 6X, 'TAX AT',F4.0,'%, $:', T55, F14.2)
BT = E - S1
WRITE (i, 330) BT
330 FORMAT (IH0, 6X, 'AFTER TAX INCOME $:', T55, F14.2)
CF(A) = BT + D
WRITE (i, 340) CF(A)
340 FORMAT (IH0, 6X, 'CASH FLOW $:', T55, F14.2)
WRITE (i, 350)
350 FORMAT (78(IH*) )
B = 0.0
IF ((A-X(4)) .LT. 0.0) THEN
GO TO 21
ELSE
WRITE (i, 360) X(3)
360 FORMAT (IHO, 6X, 'SALVAGE VALUE $:', T55, F14.2)
ENDIF
GO TO 60
40 PO = PO - Xl
S1 = 0.0
772
50
55
60
370
,
380
390
400
410
420
GO TO 70
PO = -Xl
Xl = 0.0
GO TO 40
S1 = X1
x(8) =
o.o
GO TO 70
FL = 1
GO TO 22
CALCULATE THE NET PRESENT VALUE OF INVESTMENT
WRITE (i, 370)
FORMAT (1HI,30X,'ECONOMIC PROJECT EVALUATION',/IH ,20X,
'NET PRESENT VALUE AT A GIVEN DISCOUNT RATE',/,78(IH*))
NOCF = X(4) + 1
N
= x(4)
WRITE (i, 380) NOCF
FORMAT (/,IH0, 22X,I3,3X,'YEARLY CASH FLOWS INCLUDING YEAR 0')
WRITE (i, 390) R
FORMAT (/, IH0,20X, F8.2,3X, "PERCENTAGE ANNUAL DISCOUNT RATE ',/,
1H
, 78(1H-))
WRITE ( 1, 400 )
FORMAT (/, IH0, 15X,'YEARLY CASH FLOWS ($)',/IH ,78(IH-),/IH0,
7X, 'YEAR', 5X, "CASH FLOWS ($)', 3X, 'CUMULATIVE',\)
WRITE (i, 410)
FORMAT (10X, 'DISCOUNT', 8X, 'PRESENT')
WRITE (i, 420)
FORMAT (34X, 'CASH FLOWS ($)','6X,
/1H
, 78(IH-) )
'FACTOR' , 10X, 'VALUE ($)',
CALCULATIVE THE CUMULATIVE CASH FLOW
CUCF(0) = -Q7
DO I = i,
N-I
CUCF (I) = CUCF(I-I) + CF(I)
END DO
CF(N) = CF(N) + X(3)
CUCF(N) = CUCF(N-I) + CF(N)
R1 = R/100.0
CF(0) = -Q7
PV(0) = CF(0)*I.0
CALCULATE THE PRESENT VALUE FOR YEAR 0
773
75
C
8O
C
C
430
90
440
C
450
DO 75 Ii = 0, 0
IF (Ii .EQ. 0) THEN
R1 = 0.0
DF (Ii) = 1.0/((I.0+RI)**II)
PV(II) = CF(II)*DF(II)
ELSE
ENDIF
CONTINUE
CALCULATE THE PRESENT VALUE FOR SUBSEQUENT YEARS
RI =
R/100
DO 80 Ii = i, N-I
I2 = Ii-I
DF (II)= 1.0/((I.0+RI)**II)
PV(II) = CF(II)*DF(II)
CONTINUE
CALCULATE THE PRESENT VALUE FOR THE FINAL YEAR PLUS
THE SALVAGE VALUE
DF(N) = i/((I+RI)**N)
PV(N) = CF(N)* DF(N)
DO 90 K=0, N
PRINT THE VALUES OF THE YEARLY CASH FLOWS, CUMULATIVE CASH FLOWS
DISCOUNT FACTORS AND THE PRESENT VALUES
WRITE (i, 430) K, CF(K), CUCF(K), DF(K), PV(K)
FORMAT (5X, I3, 5X, F14.2, 5X, F14.2, 5X, F9.4, 5X, F14.2)
CONTINUE
WRITE (i, 440)
FORMAT (78(IH-))
CALCULATE THE NET PRESENT VALUE
NPV = 0.0
DO J = I, NOCF
NPV = NPV
+ PV(J)
END DO
WRITE (I, 450) NPV
FORMAT (IH0, 6X, 'THE NET PRESENT VALUE ($):',3X,T40,FI4.2)
CALCULATE THE PRESENT VALUE RATIO, PVR
PVR = PRESENT VALUE OF ALL POSITIVE CASH FLOWS/
= PRESENT VALUE OF ALL NEGATIVE CASH FLOWS
774
460
470
C
C
480
44
490
SUM = 0.0
DOK= i, N
SUM = SUM + PV(K)
END DO
PVR = SUM/ABS(CF(0) )
WRITE (i, 460) PVR
FORMAT ( IH0, 6X, ' PRESENT VALUE RATIO : '
, 3X, T40, F8.3)
CALCULATE THE NET RETURN RATE (NRR) i.e. THE NET PRESENT VALUE
DIVIDED BY THE PRODUCT OF INITIAL INVESTMENT AND THE PROJECT LIFE
(EXCLUDING YEAR 0).
NRR = ABS (NPV/(ABS(CF(0))*N))*I00
WRITE (i, 4707 NRR
FORMAT (IH0,6X,'THE NET RETURN RATE:',3X,T40,FS.3,3X,'%')
CALCULATE THE AVERAGE RATE OF RETURN (ARR) i.e. THE AVERAGE
CASH FLOW DURING THE LIFE OF THE PROJECT (EXCLUDING YEAR 0).
SUM1 = 0.0
DO I = i, N
SUMI = SUMI +CF(I)
END DO
AVSUM = SUMI/N
ARR
= (AVSUM/ABS(CF(0)) )*i00.0
WRITE (i, 480) ARR
FORMAT (IH0, 6X, 'THE AVERAGE RATE OF RETURN:',3X,T40,F8.3,
3X, '%" )
CALCULATE THE PAYBACK TIME FROM THE CUMULATIVE CASH FLOW
TIME: Years
DO I = O, N
IF (CUCF(I+I) .GT. CUCF(I) .AND. CUCF(I+I).GE. 0.07 THEN
TEMP = CUCF (I+l)
CUCF (I+l) = CUCF (I)
CUCF (I) = TEMP
TIME = I
TIME1 = TIME +i
GO TO 44
ELSE
ENDIF
END DO
WRITE (i, 490) TIME, TIME1
FORMAT (IH0,6X,'THE PAYBACK PERIOD IS BETWEEN:'
3X,T45,I2,2X,'AND',2X,I2,2X,'YEARS')
775
999
FORM FEED THE PRINTING PAPER TO TOP OF THE NEXT PAGE.
WRITE (i, *) CHAR(12)
CLOSE (3, STATUS = "KEEP')
CLOSE (i)
STOP
END
776