NO.PZ2018101501000007
问题如下：
Company M is purchasing a new equipment of $180,000, which will be depreciated straight-line to zero over four years. The required installation fee is $20,000. An inventory investment of $55,000 is required and the tax rate is 25%. The equipment will increase revenues by $110,000 annually but the cash operating expenses may remain the same. What`s the incremental annual after-tax operating cash flow?
选项：
A.
$95,000
B.
$65,000
C.
$45,000
解释：
A is correct.
考点：Cash Flow Projections
解析：Depreciation = $200,000/4 = $50,000
CF = (S –C –D)(1 – T) +D
= [110,000 –0 –50,000](1 – 0.25) + 50,000 = $95,000
折旧费用包含买机器的钱还有安装费？
