Which of the following statement completions is incorrect? For a profitable firm, when MACRS accelerated depreciation is compared to straight-line depreciation, MACRS accelerated allowances produce Question 10 options:

a. Higher depreciation charges in the early years of an asset's life.

b. Larger cash flows in the earlier years of an asset's life.

c. Larger total undiscounted profits from the project over the project's life.

d. Smaller accounting profits in the early years, assuming the company uses the same depreciation method for tax and book purposes.

e. None of the above. (All of the above are correct.)