NO.PZ2018101501000012
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 company is in the 25% tax bracket. What`s the after-tax operating cash flows?
选项：
A.$56.25
B.$93.75
C.$131.25
解释：
C is correct.
考点：Cash Flow Projections: Expansion Project
解析：根据公式CF = (S – C – D)(1 – T) + D = EBIT*(1-T) + D = 75(1 – 0.25)+75 = $131.25
如果S-C-D = EBIT，那么C=COGS + SG&A?
