The one thing I don’t get is why EBIT(1-t) = NI. Surely EBT(1-t) should equal NI, why are they cutting out the interest expense completely?
also the investment in NWC am I correct in assuming you always add/subtract the same ammount at project initiation and completion?
never mind both questions were answered in other parts of the question… It’s a very comprehensive question on this topic!