NO.PZ2018101501000009
问题如下：
Company M has issued fixed-rate bonds to invest a depreciable equipment. If the inflation is higher than expected, what will happen on the value of the real tax savings from depreciation?
选项：
A.It will remain the same.
B.It will increase.
C.It will decrease.
解释：
C is correct.
考点：Cash Flow Projections: Expansion Project
解析：如果通货膨胀高于预期，real tax会上升，real tax saving会下降。
这块知识点忘了。。我还以为real tax saving是类似税盾，递延那种，可以在税务局那获得好处的。。折旧被高估了，省下的税也高了
