问题如下：
Jackie, CFA, is evaluating the effects of changes in the capital budgeting assumptions. What will happen on the NPV and the total net cash flow in the terminal year respectively if we make a switch from straight-line depreciation to accelerated depreciation?
选项：
A.The NPV will decrease and the total net cash flow will increase.
B.The NPV will increase and the total net cash flow will decrease.
C.Both the NPV and the total net cash flow will increase.
解释：
B is correct.
考点：Cash Flow Projections: Expansion Project
解析：在计算经营性现金流时，我们需要把折旧这一项非现金流支出加回。当转换为加速折旧法之后，早期的现金流变多，而现金流发生的越早对NPV的影响越大，从而导致NPV的增加。而加速折旧法导致期末的折旧变少，期末的total net cash flow减少。
采用加速折旧法，在TNOCF中，Bt 不是也受影响么？加速折旧前高后低，t时刻的BV是不是也因为折旧减少而变高？
