In a before-tax analysis of a project, which of the following would not affect NPV? A a decrease in the working capital requirements of the project - B a decrease in the estimated scrap value of an asset used solely in the project a change in the expected life of the project a change in the discount rate for the project E a change in the depreciation rate for the project The profitability index is the ratio of A average net income to average net investment B internal rate of return to current market interest rate C net present value of cash flows to internal rate of return D present value of cash flows to initial investment cost E net present value of cash flows to present value of cash flows For answering Questions 11 to 13 , refer to the following figures extracted from the financia