OPPORTUNITY COST, DISCOUNTING, AND DEFERRED TAX LIABILITIES: A FINAL NOTE |
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| Authors: | M. C. Findlay E. E. Williams |
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| Affiliation: | The authors are respectively, Professor of Finance and Business Economics at the Graduate School of Business Administration, University of Southern California;and Henry Gardiner Symonds Professor of Administrative Science at the Jesse H. Jones Graduate School of Administration, Rice University. |
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| Abstract: | A decade of discussion regarding deferred tax liabilities has been narrowed to the question of whether pre- or post-tax discount rates should be employed. A recent article has once again presented the case for pre-tax rates. This note raises problems with that argument and presents an alternative case for the use of post-tax rates of discount. |
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