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if you transform the formula to
FVIF cgb=(1+r)^n- [(1+r)^n-B]*tcg
it's easier to understand.
the 1st term is the FV without tax, and the 2nd term is the income tax you paid. simply speaking, it's income tax and on tax on "gain", the investment cost is excluded from tax |
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发表于 2011-7-11 19:10
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