Question 8 Not yet answered Marked out of 1.00 Flag question Which of the following statements about depreciation is true Select one: a. Depreciation is a non-cash expense, but it is important because it affects a corporation's tax liability. b. Depreciation must be calculated the same way for financial reporting and tax purposes. c. The choice of depreciation method has no impact on a firm's value because the same amount of depreciation is taken over the life of an asset regardless of the method used. d. A shareholder wealth maximizing corporation prefers to defer depreciation expense in order to increase current reported profits