When relevant project cash flows are examined, why is an increase in tax depreciation at first deducted

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When relevant project cash flows are examined, why is an increase in tax depreciation at first deducted and then later added back in determining incremental net cash flow for a period?
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Fundamentals Of Financial Management

ISBN: 9780273713630

13th Revised Edition

Authors: James Van Horne, John Wachowicz

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