Which of the following statements is CORRECT?

Question 15 options:

a)	Under current laws and regulations, corporations must use straight-line depreciation for all assets whose lives are 5 years or longer.
b)	Using bonus depreciation rather than straight line would normally have no effect on a projects total projected cash flows, but it would affect the timing of the cash flows and thus the NPV.
c)	Since depreciation is not a cash expense, it has no effect on cash flows and thus no effect on capital budgeting decisions.
d)	Under bonus depreciation, higher depreciation charges occur at t = 0, and this increases the initial investment outlay and thus lowers a project's projected NPV.
e)	Corporations must use the same depreciation method (e.g., straight line or accelerated) for stockholder reporting and tax purposes.