
- UID
- 223419
- 帖子
- 295
- 主题
- 13
- 注册时间
- 2011-7-11
- 最后登录
- 2014-8-7
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I understand the first part. What doesn’t make sense to me is in year 6 there is a return of NWC of 416. I don’t understand why it’s being reflected in the Total after-tax cash flows as well as the terminal CF. Because in year 6 the TNOCF is 992+150-45+416 = 1,513.
Shouldn’t the rows “After tax operating cash flow” and “total after-tax cash flows” be the same? Since you’re reflecting the return of NWC in the year 6 value (+416). |
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