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Chapter 4






                          Overview





                                                      Lay out of

                                                       long NPV
                                                      questions







                                               FURTHER ASPECTS

                                                  OF DISCOUNTED
                                                    CASH FLOWS







                          Inflation                        Tax                        Working
                                                                                       capital


                          Impact on                     Impact on
                           interest                     cash flows


                          Impact on                   Tax allowable
                          cash flows                   depreciation


                        Specific and
                        general rates

















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