[讨论]L2 关于CAPITAL BUDETING 里计算TERMINAL NON-OPERATING CASH FLOW investment, net, capital

注金证

TERMINAL NON-OPERATING CASH FLOW = salvage value at time t + net working capital investment - (salvage value at time t - book value at time t )*tax rate

 

能不能解释一下，为什么这里要加 NET WORKING CAPITAL INVESTMENT ？