Suppose in 2020, Midgewater Marshmallow Inc. had EBIT of $84 million, depreciation of $20 million, and an operating cash flow of $92 million. How much taxes did Midgewater pay? $0 million $12 million $28 million Not enough information Question 15 ( 4 points) 9B: Why do we use depreciation in capital budgeting? It tells you how much the market value of the asset is dropping It helps reduce the amount of tax you must pay It reflects a cost that reduces cash flows All of the above