... flow, all for year t before tax. Then: (6.26) Similarly, let and YYt be the corresponding cash flows after tax such that: (6.27) The tax shields for interest on borrowing (for t = 1, ... available. Implications for Design and Construction Different perspectives and financial considerations also may have implications for design and construction choices. For example, an important ... NPV 0. When the annual gross receipt is uniform, i.e., Bt = B for t = 1, 2, , n and B0 = 0, then, for NPV = 0: (6.32) Thus, the minimum uniform annual gross receipt B which makes the...