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YearTortoise & CoTortoise NPVHare, IncHare NPV
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1$100,000$92,593$250,000$231,481
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2$500,000$428,669$1,000,000$857,339Tortoise & CoHare, Inc
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3$1,000,000$793,832$5,000,000$3,969,161SUM of future cash$3,689,328,247$651,849,954
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4$3,000,000$2,205,090$15,000,000$11,025,448NPV of future cash$542,266,066$303,960,469
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5$7,000,000$4,764,082$50,000,000$34,029,160NPV / SUM0.14698233120.4663043502
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6$15,000,000$9,452,544$75,000,000$47,262,722Discount8%
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7$18,000,000$10,502,827$80,000,000$46,679,232
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8$21,600,000$11,669,808$70,000,000$37,818,822
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9$25,920,000$12,966,453$50,000,000$25,012,448
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10$31,104,000$14,407,170$40,000,000$18,527,740
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11$37,324,800$16,007,967$30,000,000$12,866,486
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12$44,789,760$17,786,630$20,000,000$7,942,275
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13$49,268,736$18,116,012$25,000,000$9,192,448
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14$54,195,610$18,451,494$23,750,000$8,085,950
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15$59,615,171$18,793,188$22,562,500$7,112,641
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16$65,576,688$19,141,210$21,434,375$6,256,490
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17$72,134,356$19,495,677$20,362,656$5,503,394
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18$79,347,792$19,856,708$19,344,523$4,840,948
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19$87,282,571$20,224,425$18,377,297$4,258,241
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20$96,010,828$20,598,951$17,458,432$3,745,675
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21$100,811,370$20,026,758$16,585,511$3,294,807
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22$105,851,938$19,470,459$15,756,235$2,898,210
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23$111,144,535$18,929,613$14,968,423$2,549,351
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24$116,701,762$18,403,791$0$0
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25$122,536,850$17,892,574$0$0
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26$128,663,693$17,395,558$0$0
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27$135,096,877$16,912,348$0$0
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28$141,851,721$16,442,561$0$0
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29$148,944,307$15,985,823$0$0
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30$156,391,522$15,541,772$0$0
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31$157,955,438$14,534,435$0$0
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32$159,534,992$13,592,389$0$0
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33$161,130,342$12,711,400$0$0
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34$162,741,645$11,887,513$0$0
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35$164,369,062$11,117,026$0$0
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36$166,012,752$10,396,478$0$0
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37$167,672,880$9,722,633$0$0
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38$169,349,609$9,092,462$0$0
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39$171,043,105$8,503,136$0$0
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40$172,753,536$7,952,006$0$0
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SUM$3,689,328,247$542,266,066$651,849,954$303,960,469
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