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A year ago
The incremental unlevered net income of the Shepard Industries project in year one is closest to:
A) $510
B) $415
C) $600
D) $355
Textbook 
Corporate Finance: The Core
Edition: 4th
Authors:
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wrote...
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A year ago
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D
Explanation:  D)
Revenues   1200   1400
- Expenses   450   525
- Depreciation   240   280
= EBIT   510   595
- Taxes (30%)   153   178.5
Incremental Net Income   357   416.5
1
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