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Land Building Equipment CCA tax shield - building CCA tax shield - equipment Issuance costs Change in net working capital Incremental cash flows Overhaul CCA

Land

Building

Equipment

CCA tax shield - building

CCA tax shield - equipment

Issuance costs

Change in net working capital

Incremental cash flows

Overhaul

CCA tax shield - Overhaul

Sale of land

Capital gain - land

Sale of building

Lost CCA tax shield - building

Sale of equipment

Lost CCA tax shield - equipment

Change in net working capital

Net present value

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