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Question		Answer
What's the depreciation tax shield? start learning		tax rate. depreciation = depreciation tax shield
Calcule the depreciation: start learning		annual depreciation = (cost - salvage value)/ useful life
unlevered net income start learning		EBIT. (1 - Tax rate) = unlevered net income
what's included on CapEx? start learning		Initial investment + Spending on long-term assets (machines, buildings)
present value PV of the (interest) tax shield? start learning		NPV new - NPV old = PV tax shield

Project valuation with WACC