Q. Five years ago, Frater Zahn’s Company invested £38 million—£30 million in fixed capital and another £8 million in working capital—in a bakery. Today, Frater Zahn’s is selling the fixed assets for £21 million and liquidating the investment in working capital. The book value of the fixed assets is £15 million, and the marginal tax rate is 40%. The fifth year’s after-tax non-operating cash flow to Frater Zahn’s is closest to:
£20.6 million.
£23.0 million.
£26.6 million.
答案：
TNOCF = Sal5 + NWCInv − t(Sal5 − B5)
= 21 + 8 − 0.40(21 − 15)
= £26.6. million.
请问一下这里为什么不考虑税率40%？
我算的时候是21*0.6
谢谢

减掉的部分已经考虑了啊