The Tax Cuts and Jobs Act allows firms to immediately deduct the full cost of many assets rather than depreciating that cost over several years using the MACRS rules Suppose a firm buys a new assets and immediately deducts its full cost. The firm will have A. lower profits and higher cash flows than it would have had under the MACRS system B. higher profits and lower cash flows than it would have had under the MACRS system o C. lower profits and lower cash flows than it would have had under the MACRS system OD. higher profits and higher cash flows than it would have had under the MACRS system