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7. You purchase an asset, and the purchase price is $400,000. Installation charges are $50,000, and projected salvage value is $100,000. According to the MACRS rules for calculating annual depreciation expenses, what is this asset's depreciable value? A. B. C. D. $300,000 $350,000 $400,000 $450,000 8. Service Corporation is considering a capital project, and the following numbers have been estimated for the first year: Projected Sales: Operating Costs (excluding depreciation): Depreciation: Interest Expense: $50 million $25 million $10 million $10 million Assuming that the company faces a 40 percent tax rate, what is the project's operating cash flow for year 1? A. B. C. D. E. ($1,000,000) + $9,000,000 +$13,000,000 + $15,000,000 + $19,000,000 9. Capital budgeting decisions are simpler if projects can be evaluated using an "accept/reject approach, as opposed to a ranking approach. I can use an "accept/reject approach if and only if the following two conditions hold: A. The projects are best described as mutually exclusive," and the firm's financial situation is best described by the expression unlimited funds." B. The projects are best described as mutually exclusive," and the firm's financial situation is best described by the expression capital rationing." C. The projects are best described as independent, and the firm's financial situation is best described by the expression "unlimited funds." D. The projects are best described as independent," and the firm's financial situation is best described by the expression "capital rationing