Synopsis
This book provides guidance on calculating the present value of riskless cash flows, a topic that has been subject to debate in the finance community. The author presents a detailed analysis, supporting two key propositions. Firstly, the present value of riskless after-tax cash flows can be determined using the after-tax discount rate. Secondly, the present value of these cash flows can also be obtained by discounting them at the before-tax rate and factoring in the present value of the tax shields. The author's clear and concise approach makes this book an invaluable resource for practitioners and students seeking to understand the complexities of calculating present values.
"synopsis" may belong to another edition of this title.
