问题如下：
Company M is investing $150 in a project which will be depreciated straight-line to zero over two years. The project will generate earnings before interest and taxes of $75 annually. The weighted average cost of capital of the company and required rate of return of the project are both 10%. The company is in the 25% tax bracket. What’s the economic income in the second year?
选项：
A. $11.93
B. $17.56
C. $22.78
解释：
A is correct.
考点：Other Valuation Models
解析：根据公式EI2 = CF2 + (PV2 - PV1)，其中PV1 = =119.32 PV2 = 0
EI2 = 131.25 + (0 - 119.32) = $11.93
用CF2折V1的时候为什么不加TNOCF？
