Holter Inc. owns an investment that generated $120,000 cash revenue and required $26,500 cash expenses this year. Holter's marginal tax rate is 30%. Which of the following statements is false?
A. If the revenue is taxable, but only $19,000 of the expenses are deductible, Holter's after-tax cash flow is $63,200.
B. Holter's before-tax cash flow is $93,500.
C. If only $105,000 of the revenue is taxable, but all the expenses are deductible, Holter's after-tax cash flow is $69,950.
D. None of the above is false.
Answer: D
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