NO.PZ2018101501000047
问题如下：
Jackie, CFA, is evaluating the effects of changes in the capital budgeting assumptions. After his revaluation, he estimates that the initial fixed capital outlay will be $12 million rather than $10 million and it is depreciated straight-line over an five-year life. The required rate of return is 10% and the tax rate is 25%. No changes in cash operating revenues, cash operating expenses, or salvage value are expected. What will happen on the project’s NPV?
选项：
A. It will decrease $0.48 million
B. It will decrease $1.62 million.
C. It will increase $1.62 million.
解释：
B is correct.
考点：Cash Flow Projections: Expansion Project
解析：△Depreciation = $400,000
为什么是increase
