=+3 Suppose Tenilite is planning to build several more plants. It wants to have the most advantageous tax position possible. Tenilite has been approached by Spain, Hong Kong and Australia to construct plants in their countries. Use the data in Problem 18-28 and this problem to describe briefly, in qualitative terms, the income tax features that would be advantageous to Tenilite.

720 Chapter 18: Capital budgeting and cost analysis M18_HORN3377_02_LT_C18.indd 720 2/09/13 4:03 PM