Buffett believes the following about depreciation expense: Select one: a. Companies with durable competitive advantage generally have lower depreciation than their competitors b. It should be ignored and should not be included in a calculation of earnings c. Analysts are correct in using EBITDA for analysis d. Higher depreciation leads to a higher bottom line Q: Buffett believes that companies with low research and development expenses: Select one: a. Put their long-term economics at risk b. Will need to continually update their sales programs c. Are more likely to have a competitive advantage d. Are probably in highly competitive industries