{"id":745,"date":"2020-03-30T16:06:13","date_gmt":"2020-03-30T16:06:13","guid":{"rendered":"http:\/\/informatickaakademija.com\/students\/?p=745"},"modified":"2022-05-21T14:46:11","modified_gmt":"2022-05-21T14:46:11","slug":"how-to-calculate-a-depreciation-tax-shield","status":"publish","type":"post","link":"https:\/\/informatickaakademija.com\/students\/2020\/03\/30\/how-to-calculate-a-depreciation-tax-shield\/","title":{"rendered":"How To Calculate A Depreciation Tax Shield"},"content":{"rendered":"<div id=\"toc\" style=\"background: #f9f9f9;border: 1px solid #aaa;margin-bottom: 1em;padding: 1em;width: 350px\">\n<p class=\"toctitle\" style=\"font-weight: 700;text-align: center\">Content<\/p>\n<ul class=\"toc_list\">\n<li><a href=\"#toc-0\">Accelerated Depreciation Tax Shield?<\/a><\/li>\n<li><a href=\"#toc-1\">Tax Rate And Tax Shield<\/a><\/li>\n<li><a href=\"#toc-2\">What Does Tax Shield Mean?<\/a><\/li>\n<li><a href=\"#toc-3\">What Is A Depreciation Tax Shield, And How Does It Affect Capital Budgeting Decisions?<\/a><\/li>\n<li><a href=\"#toc-4\">Tax Shield Definition<\/a><\/li>\n<li><a href=\"#toc-5\">Statement Of Net Cash Inflow In Case Of Loan<\/a><\/li>\n<li><a href=\"#toc-6\">What Is A Tax Shield?<\/a><\/li>\n<li><a href=\"#toc-7\">Money Guide For Self<\/a><\/li>\n<li><a href=\"#toc-8\">An Overview Of Itemized Deductions<\/a><\/li>\n<\/ul>\n<\/div>\n<p><img decoding=\"async\" class='wp-post-image' style='margin-left:auto;margin-right:auto' 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NJUFAkJCtm4BxYCikqAUQCAcV86bTxMMftGvWqPfJ28r6Hu+zcFPC4GlRpPclf8AGp2tk1LZ9ZwfPmociIogKDEhIS4n2hOR9dQ3SKtuMGkyk7jzKc1wDuqbNw50tLush9Tr6GRsQofnnJIHqB\/5xVYtcb+IjFid1krTzMuKFoPmqh6a21r2pIPiT6+XfjlWphSdR\/SbqdVUVebLE1a9IhpcXNO8AYSD0JrzzxBmR2i6cYSj01q8cc8E1YuoOL9h1fptqa\/b5NukSWUvqaebIISr5qxy+b191eetbaq+WLZIajupO0KSog9U46\/XWVQw8lKzMPEYyMoXRRGutWu3LUjwUsltX5NI7sgjH1irh0nH8005AZOQosBSgfE8\/wDOqEslid1PrCPbASsF\/e8of7NJyo+77a9GpQG0BCE4CRgDwAr1nkRg3GU8T4WR5NypxMpqNLrdySlBxTArPWlBHOvSLpnGEgPhRk0ynA57qAH5BFFNpQRincLFQUUUVwx0wUGiijiB0sM\/yRj\/AA0\/YKmrGiK\/kzI8G0\/YKnCvCttB\/SjXtasyYcV+fKahxkFTjyghI7s1d9ltTFktrNuZ9INDK1dNy+8++uL4a2AJbVqGUj0lgtxge4fnK\/yH01YGUkdOXhV8dCDR7B8k99riNwJ17whkujzhpDxjlX82iUyrs1D1pdbUr6RUXk5SvwM+T7qri5PjFMy43NqMy2ocy026lkDHqccfz6k1wPkT6o+ROMibQ47tavkB6LgnkpacOJ+pB+vxqyvLIfgaG4Zaa4a2pYCLhcpM5aByylKlLUf33hXI4ulJ4yWCX21HGV\/BXv6m9oVIrDRxN9YJoXjVwuY1J5VOgrnAaS5A1UiPMlLx6K\/NMrcJ\/vMpaSKweOmrUXvyvNCadYe3N6euFrYcAPIPOvodV\/6FNVdPA6Tbdc8OdA8Q5zyVSrHa5EJR70rGGXD6sdifoVXjTTWpHNW+U\/a9TOub\/lLWEd5JJ6IMpOwfQkJA+ioYGM6s5Rn\/ANMJR\/XX9iWJy0krf9kk\/wBND035RereCegNcW288QtBOauvE+EGmo7rbbjEWKhZyvY4dqlqJOMgn0eo76y8rbhNw\/sGkdO8UuH1rj2uNeZDUZcaK32bLiHWFvNuJQOSCA2QQAAdw8K1nl2ndxStWVYHyMgAf+K5Xa+VT\/1VuHYRzUJFqx7fk1+jB03hVhKsJO820+q3kLETjWdaLtororTg7rDhnZ9Gpjv+TvI11qZL7iZL64nnEfs85RzWlwIVg42hA6ZJrvuO3CrQF34JscX9NaCOi7oz2KpFuQx2CQlTnZqQpoAJBBIIUEpJHX1Wnqa262jcENMRPJi8xQhxEdXbIU0FGKWiVLBc9ErLm0qJ5\/O9daPi+rUSfJPuMPVuoI961BELLF0fYWhaUyRISVNkoAG5GQk8hzFVfGOpiYVqbs3OzWZt2v1bkixYdRoyg1e0b3svcXgNcuHFv8mS\/ahg6McNshwpy75EfWlxdyW1GBfyTy2rGUpSeQBryfxe1jw+1neYM3h3oRGlYbEYtvx0JQO2d3EhZ2cuhA8a9IeTDE\/jt5MWttA2WXG+V5YucMNuLwEKkRQlpSsAkIJJ9LH5qsZxXmPiVwm1lwmmW+BrKNFZkXFpbzSGXw7hKVbSSU8hknlWz2XClDaFZSk82bRN715cTCxrnLDU7LRrU6XyYdNWLVnGizWPUtpjXO3yGpZcjSWwttZTHWpOQeuFAGrCuPCbQV98sKbw3egx7Zp9tDTyIEUdil0pgtOFpOMbdyipRxzwFdCc1x3kfrH4fbAM\/wAxNx\/5Zyup4u6L1drzyttR2fQtwag3qO1EnxXlvqZKFNQo59FaQSlXh3eJFWYypPpGcFPKub38E77yNCEPhYtRu8\/58CxeKEvg7wuvT2nNUeS8z\/FtKUIb1BChslTmUAk7wEqSQokEl0KyM46V4znPx5E6TIhxUxWHXluNMJcUsMoKiUoClcyEggZPM4r6FcG18dnG7nYePNltL1nbhq2TlusqW8rIBQ4lBKVIKNxKiBjAHPPLwVrtuwNa31A1pRSVWZF0lJt5QrKfNw6oN7T3p24x6sUuT9RKdSlvkktbtp+XUw2pC8VPdfhazQui5MhOrrAluQ4lIukQbQogf6ZNenPL6dfjztDhp1SMs3HJQojOFR+uK8vaMONY2EE8vlSIT8ZFen\/L\/Vm4aG\/wbj\/xRqycbBPamH03qXsU4aVsHVu+KKH4N3jQ1q1cuTxA0RN1ZHcjr81hx0lxZkAgpPZ7gFjGQc5x1wa9SaC0twv45QrvYrx5OY0MuM0lyNMbgpjLWDkZDiG2zuScHadwIPPvrReQ\/DtB0Tq642lmGvVolKaaU9jcljsElkZ6hBd7TOOuOfQVY3ApHHKLfbmrjfqOJ2k1r\/4Zag6wVkIUO1dSGxnaNyRzJ+dWl2zi3KtUcLxlCyX1P0juNjs+g404Z9VLforLzZ5p4Cr4c2bifP4dcTtMWm6Q5styFEnS2ErMeShZSkbj0QvGM9ytvcSRb+mvJY0XoDWeqtZ8QEQ5ujbayp+1sycKSEKG5ZdT3lvmhOc5yFdcYqjhZwdlcWOOt9XNQtFhst4kSbi6Mgrw8ooZSfFRHPwSFd+M+jXOIfDrj7P1nwJS+UNx2A1HlJWCmUpsjetrpnsnAj+9gnmOdT2piKka38CbyuK5y38q611Mjg6UHT+tK93l8fPwPDWvdQ2fU2rLhd9P6eh2S1uOlEODFbCEtsp5JKscisjmo+J8AK0A51uNY6QvWg9TT9J6hjFmbb3S2vHzVp\/NWg96VDBB8D3HIrS+yuyo5ebjzburK3kc\/UTzu6s7j6jkyWYkdyS+4G22kla1HoAOtO3GuG4jX7GyxRVnPJyQR08Up\/z91Xx1K2crerq7ebk9PcyAs4QnPzUDoKxo\/al9sR\/9KVp2cs+lnl9dQbu\/A511eg9Fam1TLVdLJbfOYtpeZdluFxKQgFQOOZGTgHkM9KrxOIhhaMqtR2SJ4fDzxNWNOmrts99abLiLbEallKnQyhbpPIbtozy9uTWu1I0tx5EG1FTj7qSpX6I8EjxNa57UjQjN3OC+FRXdyVuIx6AB6n1DmDWG7bWLwV3mFcgmSWtrT7Lm5IJ6cgeY5+rrXzPllUqOT4t+59HUFzVNR6kecOKurXJOq2dOXbLYCxlCR6J5gc\/pNWboGDIjaV+TJsRJCtwQl1AOwEk45g+NVfrXhxfnp1zgT50eZKdcx8oLHZllJOSEpwc47snNegU3O2MaYYDZR2zTCEuHvJAwSayW+ZSykIRjWbcildaaPvt21MJD63ezLfm65D20JQ0eW0AerpVH8ZYOnNFiTbLDI7VRjJSsqOSCASft7qt7iLxTkRWpTbYyWjkK7sd1eXm27lxH1Z5u5J7MTHlLffcBKG0D1fT0yKzaCnJ5pcDSY9wp\/wAOG9hwf0\/cWmn7zHjoZYnqVFemOJG9LW0qcDZPzSUpPPv5CrEThIwnO0chnrisa0l+3WGNYGZC1RIq1qR3byVEdoodxIA5dwqfJAxXr\/I3ZlTB4eeJqqzqPTyW78nmHKrHUq1eOGoO6hx8XvJMiiowTmn7jXZ3OSsO3U6o8jvp2TUrhYfk4zmjJpoPjS5HjTuRKkoorveE+mOG2oH7vL4oXjV9ss9sitvGXp6zpn9ktboQO3KiEtIJIAUTzUQOprhpzUI5mdPGLm8qOCoq3eKVi4F6V067aOHGsdfzb47NjqlW\/UWnmYCUMhtagvcFFYV6aCE4AUF58KqL\/nrSpVFVSkkOcHTeVnQxP9Wa\/wANP2Csy3tRXprLc1\/sWCodovBO1Pf0rCiHEZrP+zT9gqXOa3EH9KNdLey4Y+t9HxmG47M8IbaSEoSGlchj2VJ\/H3Smf+kx8NX3VTddBorT3y\/dQl5BMWPhx\/wI7k59f+R8KtUiDRZsDiXZLXMauFr1C\/ClsK3NSI5cacbVjGUrTgg47way7zxfj6kdbe1HrO5XZxkFLa50h+QpAPUJKySAfAVt+H3k9yuKF3XZtE6PVOfYQHX19qUNMoPIFa1HCc88d5wcA4Nd7qDyEeJOm7a7dX9CwprLDanHUwp4cWhIGSdpUCcDwzWPPFYanVUakoqXi1cthQq1Kd4JuP6lY23jc9ZoKrXZuIN6gQlFRVGizZLLRKvnEoSQnn38uda2HxH0\/AktTYF9djSY6w4y8yHELbWDkKSocwQeYI6VaXC3yRIfFLQ9811bZdthxrE8606w+HStwtspdOCnkMhYHtFVUnROlyAfklvB\/tq++p0qtGrOcadrrR6f5cU4VIJSlx1RnXbizD1DITL1BqyddJCE7EuzXnn1pT4BSySB6qnuPGU3e3M2i7a2us6BGKVMRJMl95lopSUpKW1EpThJIGByBIrdcK\/J+tfFfWcfRloZhwpEhpx4vSXF7EoQnJ5A5UemAPb0FY3EbgfaOGmsrjou7xokqTblISp2O4soWFISsYzgjkoZBpqpQdVUFbMtUrbhONTJznBkNo49XHT8BdqsfEW926GskmPFlyGm8nqQlJABPqrARxbjItr1kb1fcE26Q52r0NL7wYcXy9JTedqlchzIzyHhWEND6W77Uj99X31utGcItPa01ZaNJRIjMd68S24jbrqllCFLOASAc451bONOlepJJW1enUVpzk0r+BjWLi+xpeYq4ac1fOtUlSdinYbrrKlJznBKcZGeeDRe+L0fU0sT9RavnXWQkbUuzXXnlpT4Arzgeocq6zjN5Ntt4Naqj6UvHmVxekQET0uRu0CQlbjiNvpHOfyZP01wY0TpcDlaUc89Fn76jSlRrJV6Vnfjb\/GSnGdJ81LTwuZVs4o2yyzEXCy6llW+W2CESIjjrLqQRg4WnBGR66mXxcZdu\/8AGF3WNycuuQrz9Uh8ychO0flT6fJIA69BjpVlcRPI+Tw80fYNWPuQLinULrLMWLFS72oW62VpHPr0xyrZW3yCeJtwhImq0PAh7huDUq4pS5jHekE49hNUfHYOUOdlNWd1d2TduHki74bEfYk9NdCuLr5Ql9vsFVrvXEu\/TYbg2rYkTpC21jwUknCvprnRrrTBH\/SSf3FfdW71hwVGgb67pzVukl26eyAstuKJC0HotCgSlST4g9xHUGtL\/EnTA5fJTY\/3lffWXRjSUVKlaz10Maq5uVql7rrFb17pxl1DzN2LbjagtC0pWFJUDkEEDkQa2F44vI1GtleotaXK6qjghlU+S\/ILYOMhJXnbnAzjwFcdrO16Zsdt\/k9uQJcjKWhuOUgdVden+ZrggrFWOMXJSa1RBSaVk9C7bJxXi6bnC56e1VMtksJ29vDcdZXt7wSnBI9VZj\/HGbIvA1A\/xBvKrolBaTNM18PpQeqA5ncE+oHFUQDmlodKnJ5nFN+Q1OUVZMvSBxrk2pEhu18QL1CTLcLshMadJbDyz1UsJI3KPeTzNYNv4l2u0zm7nadRyoM1oktyY63GnUZBBwtOFDIJB59CapmjcafNwd9Frv8AETqS01LpuvFKFfpXn191XNuMkJCA9MddfXtHQbl5OPVWINc6Y6fKY+Gr7qqPOaXGalFJK0SLm27steXr3T7MV12JLLzyUkto2kbld3PHKqwflOzH3JL7m911RWs+s\/5VBuwcHlS1ZEix+TVpcANfwtJaq+R74jdab2pthxf+xeBIbX7MqIPqNVWMirk8mvhvpzX7F613qNm5vWuxP+Z25EXahqbcQneQpShzbb3NlW3GSpIz1FaXlBXwUcDUp4x\/S1u4+Fv1NvsOnivjqU8KvqTXlbjcuW7SJ+lrqXhEW3ZJqymW1+gFfzyfV4+rn3c0kWO3WlD5tuoZVtedy6hLZwheefQ+jz68q7YO2zVukXYEqI427HSppJeRgke3p4jqc4qprVq2Bb+10bqWa0iXFCzAdc6SWAeQz3qSCAe\/AzXgtFpStFHvzqJwzS0OA1PfOIL01dvZnRpQcWEhbkU5GeWdwX\/lXRXK4nT+noy5N7ZuE15Xm3Yxx89wjmBknvIqNaJetrkqyaQjspk43SpikkMRkZxknxPckdefgTVTcRdVaI4WT24lvvcy\/wB8YeKFJcKeyOeS1pQB6HPknn3c81k83zuljBrThQi5p7+JpeLM54qbt8VxK3XlJZG1Xzl9\/wBdayxQG7LbkQWcbgjDqgPnE9c+6uBm66lztVM6k1Gkswg\/2KEo+awV5won1cyT91WQFAjcFZSRkYOeVeocisBh5UZ1KiTle1nbRf3PKeVmPryrRjTulrquJJnIpwIxUeDnFFehL6dxxJKD4UuTTAqlBzUkxWHbqfuFR0oPjUiNiQHNFNB8KXcaAKoq8fJwv9ksWmuJ41pw0maw0m9ZYRvjUa7ptyozaZ7KmVdoVBSiXg2AhGVHwIzVHHpyr0JwK09xK0boy+671DwCvWtuE+rYXyZeQwpbJWll0ONvsrbPaoLbqOTm3ZnI3VwmJcXTab9bceB1NC6qJon4\/wCtuGXG\/S924taI4JXXT9zZu9ugXW+SNSectgGKtDLPmpVlJWiOMOBGMtKBOSa86VdHEvi9wokcPHOF3BLhdO0tbLjdGLteJ11uyp0yY8w24hlsHG1DaO2cOAOpz45pejDRcI6qy4CrPNLr6zfxv9Xa\/wANP2CpOlQRiRHaP9gD6qm3HHT6q3cH9KNbLeyRpK3nEstIK1rOEpHUnwq69LWNOnrQ1EKR26vyj5HPKz1Hrx0riOGunfPZSr7KT+RjK2sDHznO8\/7v2kVZx5VfT0K5M9m+RHeLVO4bav0TZLsxbNWuvvSGXihKnOzWwlDLyUn54bcSolPQZGfniqq4nveVFwnj3Cxa11LfHrNeWXIjszt\/OokltYIUkOKB7JRGRg7Vdccq5XQfBfjFf9Mx+JvDWG9ISzKdjhUCYGpcdbeMqAJSSDkY2Eq9Qr17wwk8Q7\/wV1LE8pSztx4sZh5tuRcEIQ8\/FDRKlupScApPzVYCjjOMgKPLYp08HiZV4OM1KSun9yfgbqjGeKpKnJOLS38H5nGeRTBTdeB2uLUqSmMJd1kxy8oZS2FQmU7j6hnNa\/h9wX8krimxcdGaJuN6k322MEuXJb77bjmDt7ZCF\/kVJ3Y5BA6jxzUvkdrKfJ74huIJBTNmkHvz5gzXBeQZn8LtzSD\/AN3n\/wD87FUVYTc8VXhNxytPT9y2Mo2oU5RTvprwOe4H8LIE7yiHuG2p35gTaHriyt6HIXHcLjG5KVoWghQBxnkeh9tP1nwVF78pmfwk0nIfbYcktEyZjypC22zGQ664tSjuWRlWMnnkDwrvuEv\/AF49S+qdeMe41u7XqG22Dy9b38qOobTcY4t7K14CUuriMKRz8TsKR61VlyxldV5Thq+aTS8THjh6bpRjJaZ7foYdx4aeSHpLWMXhDf0agl6hdWzGcuhluBLT7gGxK9ig2kncn+bIG4ZNcOOErvBnypdG6VE5c2E\/c4U6C+4kBamVOlOF45bgpCgcAZxnAzirv4vcQ+MWj9eyYun+A9s1FAcUh6Fc2ba7Icc9EZ3qQDtWlQI545AGqmvGueIOtPKV4b\/hI0jH09dIEyIlEVpe4llx3clSwVHaevI8x3gVRhK2InBtzvGUJXvJN3twW9E68KMJKKWqkraePWZPlm2G4aq8oTTGmrU2Fy7raIEJkHoFuS5CQSe5IzknwBrodccEvJV4R2m26a4j3i7Jv10YJE9hx9TiO4vdk3ltCArIG5Jzg9cGpuPt8t+nPLE4eXi6OJbiswoKHHF\/NbC5MlvcT3AFYJPdisPyx+EHETWXEa06k0jpqbeocq1tW8mIjf2DyHXVenz9FJDoO48uSs1GhVlKGHoSqOnDK3fdd33XJ1KavWqKGaWb9jd+WJHTauCWiY0KemSiHOjIYlN8g4ExlbXB7cA1VvCK6eUXxt1pGkQteXdEK1uNOz5yn+yjsNg\/NCEAJUogH0QPEq8asryu7TLsXALQtlnKCpMGTGjvEEEb0xVhXMdeYqt+FcrjZC8nzVTOitKQF6dmLkrlXMyuzmgBtCXS0kKG4ISnw71AZIxVuDUY7OTWVtzaTlbi\/wDLFde7xet7WTaXgiXy0de6W1fru22nTcyPOdsMZcabLZUFIU6pWS2FDkopwc46KJHUGvOzzzUdpT7zgS2hJUpRPJIHUmjI8c\/fXD8R9QlhgWGMvC3gFvqHUJ7k\/Sef0euunwWGjg6EaEHojT4is8RUdSXE5LUd7Xfrq5NOQ0PRaSRghA6fT3\/TWspgJzTt1ZVzHsOBxTwcjOajyKKAsS5o9fd4k4pmcjAqvuIV6fduDdiYfKWm0do+EnkrPQH6MfXWDtHaC2dQdVq74Iy8FhHjKmROx3cq6W+E0H5UxptBGQSclXsA5n6K1q9a2BplTypDmBySNnNXs51VK5DhASCUhIwB4DwqFTi8Y3VydflNipv+GlFfk6CnsOgl9bbLAk8T9qj5pbW9vcXVk\/UMfbWolcRb\/K5MLajJzzDbYP1qyfrrkVKySmpmWyEYAJPdWsq7Vxtb7qj9vYzaeAwtL7II6D5U1Dd0rDbkmSsJyopBUGx3kgcgPWa+q\/Di0fxJ4N6R4VwbNFTHscYpduDCzmU+7+UeWoeKnDkHw5V5T8gVVmnWvV+n32Quet+M+sYGXI5StITnrgKCsj+0K9yQYbcSIIBYIKWxtAHzfYK5PamMq1Zum\/18Ts9i7NpQpxrv9EcgLSptxxEdau0V6RaztJI9X\/Iqk+JvDK38UrNfENOuxXobvatKbO12O7jBUO8HI5ivTDtuVd47im0JZmsjDawcHp9h8PXVX3qU3Huku9BvsnVMGNPQBjfjluI8Qe\/vFaWD5t3R0k6me8H9pTXDy+weFPBC72W4SCu9WVC3pMheSuQvBO7J7vD1cu6vHegNHas4v6mkTYrTjrzzheky31ENMgn85Xj1wBz9VX15QU1BfT5qolq5rECQEEgOJIKun+7XW8J1aY4fcPnr9dFsQbfBaL7qtvLAGeQ7ye7vzit5gaWdOb4nLbVxLUo0l\/KUl5Sei9O8NdA2nT8N4PXCc8lxx1ScLeKAdysdUpGQAPX4mq+4Y8R222m7BqCUlttAxGkOKAAH6Cz3DwP0eFc3xd4nXLi1rmVqSSFtRf8AQwoxPJhgH0Rjpk9T6z6q5WNHSpKkrPLFdHgMbV2fUVWi\/NdZy2Lw1PHQcK3+j1KhxKkBxpQWk8wQcgjxp4Oa8\/6N1jdNLOIQ28qREOAuOskpx4pP5pq8LLe7dfYaZttkodSR6SQfSQfAjur0fZW26G01a2WXV\/Q4zHbMq4N33x6zY0AnxpoV407IrdXRrbMeCSOtLkeNR59dAPrqSYEv00ZPjTUkeNOyPGncVkVaDg5z0519Iv4O7i\/5RNy4dTtP2vh\/a9VaG0cswmXPPm4VyLih2pixwv8AJPKSFpP5VTScLSC4e75uZxXrb+Dmncbp3FO46S4VcQrdYLcuGbrdot1hmbFlBtSW07WQtCg4d4G9C0naBncEgDz7aVPnMO720114HVYOTjVTXE9OeUvwU8kTivpS+a5uUqLw51na4L0l4uITbZS3ktlQbkxFgCQScDegEnltcIxn5WJKigKUMEjJHga+xPlP6z02xwb1JbvKQ4Hybg6xBfFvnWiGblBcf2K7J9mSEh2CoK2lRdSjbkhK3RzPx2QCEgE5OOZ8axtjynKm8zdl+P0LtoRjGayo3cf\/AFZr+6PsrNt0RU+YzDQ6htTy9m5atoT4kn1VgxyPNmvUkfZUvLwB9tdTDcjSNXbL1tjlktUJmBDnxEtMpCU\/lkZPiTz6k1lC62vmDcovx0\/fXn8cu4U4H2e6rc5W4nrbQfH\/AF9wyZch6L18YMN1wuLiKUy+wVnqoIcCgknAyRgnFT678oriPxKhi16w4hplwAQrzRosx2lkdCpLYTu58\/SzjuryJkfoj3Cl5cvRHuFU\/D0HPnHBZuu2pbzlXLkzOx6t0lxw1poSwXDS+ktbsW+13Ra3JkdLcZ0OqWgIUdziFKGUJA5EePXnWDofipf+G91XfdD6tj2qe9HVFceSGHSWipJKcOJUkc0JOcZ5da8w8vAe4UoPs91T5uk1JOK+rf4+ZHPONrPduPUlp4x6rsmtZPES06xZY1HLcecfnhEZRWp3552KSWxnPckeqtfqXiDcNY6gkas1HqVmZd5SkLelbmmlKUhISk4bCUggJSOQ7q819e4e4UY9Q9wqUadKMs6ir2t+nV5EXKbVm\/E9rWbyvONFjtqLVD4oNvNMo2NLltRpDoH+ItBUr\/eJri5vFzVFy1izxBuGtUyNRRnG32Zzq2lKQtHzNqCNgA7k7ceqvL4xjoPcKXd7PdUKeGoUm5Qgk3vsiUqtWaUZSdkendb8U9QcSbu1ftbarYuk9qOmIh9QYZKWUqUoJAaSkdVq54zzrrYXlT8XIGmk6Ti8Tlogoa7BBPm5kIbxjaHinf06HdkdxHKvG+445U4HPUD3VJ4bDyjGDgmo7lbcLnaibkpO7PUmoOM2rtV6Zt+jtRa2TPtFpKVRI7pY3NlKSkHtAkLVyJHpKPWsrT\/HXWemtGXDh9Y9ZsxrHct5fY\/IqUAsAL2LI3I3d+D6+Wc15Rzj80e4UoOPD3CpfD0ZRyOKsne3j1kOcqZnLM7vQvO43+226C9NVNjrDKCQhDgKiegGAe8\/bVMzZ8i5THp0te919ZWonxPd7B0rE3A4+6nZFZFyFh+QOnKgGmU4EdKaYh4OacDyqOlCiBipXEQXSei2wHpigFFvASknqo9B9dVBIkrm3WVIeOVnG4nrkkmu415cQ0hmA2rKv9KofUPqz76r+Kd0uUrwUlPuArgdvYt18U4J6R9+J1uycOqNDM1qyRwZVUZRU+ATzpriR1rR2RtLmMG\/yhNZbIJUADj101KU5yM+6po4GDzpWsI9Q\/wesa7P8Wb\/AC4TaTBgWMuTSfzQX0bSPX1PsBr6M5L+2UlJKkjlgV5D\/gpbDGfGvNQS4qFiStqGlSk5BQBzHs5mvZ64C9NXFyzy9xjOkqiPHmHG+4Z\/ST0PszWk2jRcpc4jo9lYtQhzTZgvxlLb7aPhClIwfWapDi6h2HcW7mwnb50js3wDyUoDGT7R9lXrPKoDqkLSoJcGcjvFVpxLt7dxty1uNZTu5Hw5EVpJWizoqbzxPn5xTuDYvtstTjv5OE9JlLK1ckBWAjPP1qH+7VPcXuMEzVUVnRlkkKascFQLm0486dAxuPikc8Dx5+GO48q+xX6xX03WNuNvnDzZxaR8xQOQPYRn3GvOjLRXzxXSYG3NRscZtLMsRJSMyE36GTWSfORyQtAB7sDNMjoxyqZQJOxPd1I7qzkYDFbJCPSIJ7zWwtF4uNnkJlwJDjLiSDlPf6j4j1Vgdmem2pCpLTWM8zU4NweaOjRXJZ45ZaotGxcXW1uoj6hiBoK6yGeg9qf8xViRpDEyO3KivIeacG5C0HIIrzJ2g29s8ohP5uPzq3GjNd3SxXeJGQ+rzFbqW3GCcpwo4JHge\/PjXVbK5S1qM1Txf1R6+K8zR47YtOpF1MPo\/c9EAjFOqMEdKXpXfqV0clZrePpwI8ajCvGnVICsa2umdVam0VfI2ptH6guFku0NW5ibAkKZeR4jckjKSORSeRHIgitVRXHNKW86BNx1R7Ct38JxxoPDq7aF1bpiw6im3KC7BavDu5hxpLiChSnWUAoeOFcgOzGeuelePUp2gJBJxy50UVVRw9Og3zatcnOrOrbO72NvHP5Bsf2R9lTbqx45BYb\/ALo+yn1tVuRgveyWl593WowRjmaXccVK4rHWae4cai1Hp5zVUWRaIdsbnG2h+4XSPEC5AbS4UJ7VaSohC0nl41DqrQeqNGMwpl8gteY3Ld5lPiyW5USSU43pbeaUpClJyMpzkZGRXRunPk2RCe\/iBKB\/+1x6i0Wp2Twj4i2+Qv8AkTK7RNjhfzETjKDQUO4KUwt8HHMhAz80VjurUTbbVr29vEtyRenG3mcFuGM+ulB3dAT7BXoedpjT2ktbt6HkjhcNMW+QxAuhnT2Dc3UgITJfLxPatO7itSEoKUpwgFJwd3Ex5OnNG8NnrtbNOWW9XJzVkyBFulwjJlIEJqO0oYaV+TWVFYIKgdvpYAJ5EMWqi0jd6cesHRaTuVcCM5HMd5pUqB7xz8DV06WsmltZX7hfqW66bgR2r7fZNovcGA0GWJIYU0vtENj0WlKbkBBCRtyjOBkitPocWzilruLbbpp7TdrtVnh3K5pjMsphtuJZjrdQzIfH5RxO5tCSpayraVnIJJqTxSV1bdq\/VfsLmdUr73YrAYOOfXlSczySOfr5VbWom7LN0NqF3VD\/AA6ZuUCM1Msj2m5Mdt9x0PIQ5FW0yAHEKaWpe5WSksjnhRqHiNco3DTU9x4aWTS+nH2bM23AlzZlqalSJcnsUl54OOAqbBWpWxKCAEhPU5JlHE59IrXz04cf1ISpNa\/57+BXVwtMq1s29+QuOpNyiCYwGn0OKCC4tGFhJJQrc2r0VYVjBxgisME9TjHTkasmZpV1y5cOBpXTUKbJl6STdpzUkBMZ0tzp4dkSVqUlKUJaZSVrUoJCW+Z5VtNUW1pzh3c9TzmtAyLlY7vbkRlaeTHKOzdS+pbb6GQG3EktIIJyeShnBo+KUbeP91+w+ZbvYrSHYrnLvkXTpZRGmy3mmEJlOJYSlTm3ZvUshKAQpJ3KIAByawloLbimlFOUKKThQPT2VeOtLkxq7yk7Lpe7adsYgO6gszDyI9ubZU+04iMFocUkAqSQojaeQFcjG+TdE6Ha1TFsNpuFzvF+nwEG4xESmokaM2wrCGl5RuWZHMqSSAhIGMnLjiZWSa1e7zIypat30RXXMcyOVOyM9fYe6ro0rY9Kao1Pw21RddLwW419nTYN6tkRJZjyVxtqi42jP5Le282CE8gtKiAkEAaDTd\/g65bven7no\/TUOMiyTpsJy32xEd+I9HaU82Q8PyjicNqQQ4pWQok5IBqfxXVHdv8Ab9vAOZ3K+8rjOOWKUHNRZIGPCnBXrrLuUXuSA4pd3Pny+6mBXjWHe5iYVplSScFLSkp9ajkD6z9VV4itzFKVR8EyyjT52oodbK51BPVcLpIklWQpeEjPQdB9VaSCrEqWD17QH6hUy1EkqQaxYqs3KRgYCkJI+yvMJSzycus7iMciyrgbAD10xw8sU8daY7y6UhiN49fvqchKGlEk4xUKE4pZq9kRwk\/mn7KAPqb\/AAaemjauBiLp2e1y7znHc4+ckKr0jx51bprhxw2uetdWuYg2xtK20oIDjkgkJabbz+epZCR6jz5ZriPIw02NMcCNLxXkBOyGFqzy5kczVG\/wjXEq23e76e4YRrs1GhWtCbvcXXlBLPbubkMoUSRzCNysc8hysSo7QdzNg2pJo9IWW8R9YcP7Pq+Pt7G6wmpaBuyUBSAcH2ZqquLPFXQXDKxOSuIt8YgsSGiqGx1fk4P822PSXjpkDA7yK8s6h8uOTwy4cW7hbwccj3S5xWezl6glsFUaKnJ2tRGVf6RScpBdcG3lhKFcl14\/1bqTUesr7L1Pq29T7vd5y98mbOfU884R0BUrngdAOgGAAByrWw2W6rvUdjaz2wqUMtJXZYfHnj+xxLhydN6fsBYsxc3tyZwBlOYOUnaklKPeo+sdKoJgbFFKhzBwRW7cHo7T0rSykmNJLncsZFbKnRhQjlgaSviJ4mfOVHqZbawhSQB87oaytiU4A5gVrWF7yFVsm\/TGd2Ejvq6JUwKgkFRHSoV4WkuOZS3+aO9X\/tShbchw7shlJ6Dqs\/dRKUh3GAcDkPAVIia2S+uS4QjkB0HgKW29mm5xS4chLyCr2bhSyW0s\/MJ59cVl6WLSdRW1T8Qvp86bygHmfSop61IrxXuKbtBvzPUCVc+XOnbvVUQx1SMCnE17LC6SR51J3bJKXd6qZkijJqy5GxW1FFFcib4KKKKANmxyZR\/dH2U\/dk1EyT2aM9yR9lSA5rMT0Rjtaj6XPLGKZk0u4Y51O6I2LC0nxH0tbNCO6A1fw7c1FE+WV3uO81fHIC2nVR0MlBCWl7k7Wwe7rWt1PxAVerOnS1g03btNafRIEswIKnXFvvJSUpdkPuqU48tIUoJ+alIUdqASSdhovh1pTWMV5X4S2IEyJapt3mRXLRJWGmYrC33sLTyUezbJGOvIVzOo7XYbbJYa05qj5dQ4klxaYDsbs1Z5JAX87lz5Vjp05T43\/X9yd5xWm4697iRojUKE3LXXCxy8agDKGnbjC1A5AZmbEBCHJEcMuFTm1IClNuNbuuNxJO1sOoNOWvgrHi6o0c3e7dL1ZMc7JmcuFKjuJhx9qmX9rgSPSIUlbawrl0IBFUFt1pfZLaWlf6JSQfdShxxbQa3r2IyvbkkA9CrHQdwzVkqMZWV+Ke9\/19gU2ndnffhYRC1Rpq6ae0oxbLLpJ7tbbafPFvKUVKC3XHn1AFx1agMqCUgBKUhCQnFc1pTVNx0hqBjUFuZjPuMpdQ4zKQVsvsuIU2404AQSlTa1JOCDg8iDg0aO0rM1lexZ4cpiI21Hfmy5kgK7GJGYbU468vaCcBKTgAEqUUpAJUKlv9p0Vb7S9PsOuV3KSysAwn7S7HWtPPK0LBUgpHgopVz5A01GnF82lv0\/3+wvqet7Gx1LqDhtc7WuNpfhlMsk1xaSuTI1Kue22kHKkNNdg3gHplxbhA788620viPpDUURMvXPDZ67akbipii6xr+uGiQEIDbTkljsVl1xISkFSXG920bhnJOk4k6Ic0DrW8aTalOTmrStpKpRY2BW9lDhyASE43kde6tM1BgKsEi5rvTSJzMtphu3llwrdaUhZU6F42AJKEpIJyd4I5A04qnUipa6+L\/rci3JOzOwtHFd+2zrKuVpyNPgW\/TDukpsNchbfn0J16Q64Q4kZZc\/lOEqAIBbBIUCU02+cQrA\/pGdoTSGhG7JabjLjTnnZFyXOmuOspdSN7xbbQUYeUAlLaccydxORwyW3S2Hi0rs8434IAPtre3PS6LdofTurxNUpV8n3OEpgoADQiCKQoKz6W7zojGOW3vzyeWlf\/fiNSm9x1M7iraJeqtPa\/a0OpjU1omwJk+Qm7KVEnmIGwnawWssFYaRuIcWM5wkZwNZp\/Xtoj2yTp3WejzqCyOzV3GOyxclQZMOSsBK1tvhDiSlSUpCkKbUDtSRtI54GgNHL1rqmHpuRJcgtyo06QH+y3YMeG9IAAJGd3Y7evLOe7nzYIWlK+mQOVOFOlfKt6INz3s788V1RtT2G72TTES22nS4cRa7S3JW4EJWVFa3Hlek46pSsqXgDkAEpAAHN6X1I9pmZJmNRESTJgS7eUrXtCRIYW0Vj1gLzj1YrS0ZNWqlDK1beRc5skBzzpQfCowo9KcDirPMrsPBrmtczkCEmCk+mvCzg8sZwP8AP3V0g9marHUdxM25SVqVuSHClOOm1PIVo+UGJ5vD80t8vY2uyKKqVuckvtNSoEElvP01htyQ3LU8oFPo8045052ckHBbJI+isDzha5AWteMnGAOQrijpzfIcS4neg5B6GhYJHTNQR0hKNyNoPXA6VMlzcQkghR+umBI2PGsmHFTOudugLTuRJmsMrSR1SpwBX1ZrHSk5+kV1\/CKzo1Hxi0RYnBlEu9xkuDH5gWCajLcSjvPpbxr4+3byYeBGmJVs0dIucm5s+ZQXnAUwYz4Rv3PqT6R5ElKBjdtUNycE18wdfcRNWcUdVz9Y6yuhm3O4OB11zAQnISEgISOSQEpSAB3Ada+0HlL6U0ZrHyf9XaV1TFT8mx7U9IjqThK48llBUw42e5QcCPUckHIJFfEi42+Rp26Tbbc2AmREWplTRSraV7gMjvxtJUD38vGoxa3MnNPeYQHpBOc7vqxSLQnJSMYHQ1sLpb4lvuIbhSnZDBZbX2jicflFJypI8QOXXn6hisNYBO7H0VO9yo10hsg4xWquTO9onqU9K6J1tLiduPprUS2Sl0t94pSjcDURMhPOst+WBHSwx89XKsSTujLJb+aqoo6VuvpJ58+8cqqW8kzaoUG2wwtbG1Ixg4++mPBpCO0CM+tKgU1MtTYOxa1IPcMcvorHkIdQ0VIfLiU9UqSOnjViImC69vPIgDxrrOEcQytbRnE4IjtuvHP93A+siuTCGnM5wk9xHTNWZwSsKzJlaicXhDaTGQgfnE4JOfUB9dZ+yaLr46nFK+qf4MXH1Oaws5eFi39xPPNOB5dajBJ76XIr1VSOEJAr10u41GOXOl3GncViu6KKK5U3gUUUUhGe0r0AMfmipEqqFonAHqp9ZUdyKWiXdQDmo6cnuqdxHf8AB5WbtqnPX+Imqe\/\/AOkSah4Z229Kk3PVEHWI0pBscZKpt2CHVuNh1YbQ00hlJcU4tRAGMAAKKlBIJrm7DqG5abfmyLYttK59tm2l4rRuzHlMLYeA8CUOKAPcedZ+j9cXbRbs0Q4NruUO6MJjzrdc4gkxZKAsLTuSSCFJUApKklKhjkeZFVSUm5OPGxZGUdEyx9X3+UrhzpXXlv1pc9Q3i06snRIl3uEHsZDaG40N5LGVOOKdbStxSxvPLtVjGKzeLNngaH0k9L0nBbhyNYvtJ1NFbUlarE52LcgWkHGUpUtXanvw2hokqadB4Odxl1hOds6FRbIzBsE9VytVtYtrbUKG8UpHoNDkRlAWd24qX6SirJrR2\/Wl\/gx7\/EVKRLZ1KwWbkiYjtQ+rtA4l7nzS8lwbkuAgjKhzClAwhSkmn1eo3UjroSaM1fP0Tf0XyFEjS0KYeiS4UsKVHmRnkFDrDoSQrapJPMEEHCgQQDXS3XTmh9X6L1LrLQce52OTpxliVcbPOkCWx5u88lgLjSNqVei442OzdClFKid6sEVyWltSvaUuZurVlsd13NKZXFvFubmR1pURn0F\/NUMDC0lKhzAOCQd1qnijfNSafVpOLZtP6dsrzyZMmBYrcIjcx1AIQt9eVOu7dx2pUspSSSADzq6SkpqUN+n+eJXFppply8T+KOt4PlLosUC+yI1pZulnhrtrRCYshpTUYOpeaHou79ygoqBJBx0Axyd\/sVot+kOJFgYcat0CFxPgW1p9QBESMkXRsHJ7kpSDz\/R51W961zf9Q6zOvrk8yu7qksTC4hoJR2jIQEHb0x+TT7edPuuuNQXmDfYE55hTOpLym\/TwGgN0tPb4KT+an+Uu+j6x4Cq4UHBRUeCX5JureTb8S+9Qax0Xo7i\/dbBfOIl0Xoy1XORZ5WkU2BwxDbkKLKmEjtgntNgKg9gHtMLznNcxw8sNp1JA4J2C8pD9ulayv4dac5ecJSm2qDSu78oUpQR\/b5VxC+Mt9mREpvWldGXi5NsCMm8XKwtSJxQE7Ulaj+TdWlOAFuoWr0RkmubTqy\/N2qxWmPMLDenJ0i4211n0XmZDxYK17+pIMZog9xBI60lh5qO\/X\/f9Q51XLh4I8VeIGpuJqrbfrvKuUO52e+lyE\/lbMMptcpxK2UH0WCgoCQUgYTuR0URVEtH8mj1CrGb486xiyZFws1m0pablObdYuFwt1laYkTW3EFLiHFD0UpXuyoNJbCjjIOKrhPIADuFZFGm4ycrWvb9yqpLNFLz\/AGJd1FN60AkVk3KrD6KQEUtO5FoxLvM8ytUuSFbVpaIQf7R5D6yKqd1SkLSVEnPWu71\/MWzbmYrf88sqX\/dSPvIrhntrqCOpPSuL29XdXE5Oyvc6fZNPJRzcWY7j6FEoKTyHLlWBMdSlGQ2BhQqaQopAWT6iPCsKakmOpYPIc60UjZm3iuAIA3ZrLQtBIKs4zjFay3PpLaQR1AraIBPSmtQMhIzy9dWr5JsJM\/yktHlYymLI7c+rBAqqxyq5\/Iub3+UFAePNLSUD3q\/96jUdok6a+o+k\/lfahRa+E67a6ogXu5xYiwnOezS52qjgcyMNDIr5h8ebawqZFuzDMdqRFZRHfLalKL6cqKVncTkpBCOWBgDlnJPvzy4b8pqZpKxNNqWA3NmO7VY2eghtKvE4Kycd+DXz+43zg2tNucUtxxxzkpSufZoAGPowAOeMJrDlJuvZGS0lT1OThwZt\/wBNKJYbaYiPLlktrAAXhQAVn1LUPH5uefM8ypKwnO1QI5kEdKktUthp0MznJHmhVueQyrBUn1DIBPhmprg81OnKkw0SG4+xKEJfXuWQBgE45DlgYzyArPtbQxDGSOzTuXgA88k1q5aUuPKWggg+FbJUdCAt6QrIxyz0TUTTaHUFSf8AR4zuxjdQI5m7YbSlpQ9MnP0Vjwz6QAOCeXtrMksGatchXMHIT7O6sGOChxSSfSTVD0ZNG5XJbcQGn2lcuXTOK161GI7lCitvoATzFZzaUS2wWz2byRyP6XtrDdUcFDiAFDrnuqd9CLIZsdLaUSWMFtzw7jV2cIYLsPSDb7jgUJbq3kp\/RGdv\/wCuapJlQUl2GMqCvSQP7Qr0To+z\/IOmoFsKty229zh\/tqJUR9BOPoro+S1LPi5VOyvd\/wCzS7cqZcMo9bN2COtFNoya745SxKDyoyPGmZyKKlcRX9FFFcwbsKKKKEIym1HYmpArNRI+Ymnc+6shOyK2S5HjRTAacCakKw4daeFDvNRbhS0xNEoIPSlqIE5p4UTTUiLVx4PjS59dNoHI1K4WHg4GKduzyqPcKWpXIkietLUeTTsknNO7AfR0pAaWne4rXHhVLkVHRk+NO4mS0AgHJFNSoUuQetSEcRxAfPyhGaz6PYch6yo5+wVyaTkbDyxyrea3lNPXp1tToHZhKBnxA5\/Wa0BcQE5LiN3trzzHzz4qpLxOwwkctCC8COUj0VKKxzPStRNWQ0UVnvyErOAsVr5wKkjbz3YArCkzIMiI4UstFJ5hIrbRJaykpWfprWohPRiuDIAQ8wpTaxnOFAkEe8U9hxSTsXyUOVC0A6AK3DPUe2rV8lm4SLXxWVPignYUJyB805BqoIzp2AZ6eNXD5KNyhMcTnrPPxmYEOMqHL0hyUP8AhpVPtROD1PVnlS6qOpOL9vCXwWLfYYKJCMZw86tbqsKAyn0A10wcZHeRXhjX19TftV3CahYMdp1bEYJzgNJUcdefM5V\/vV6B446sRDvWsNVsPHzwyvMY5CvzUNoYTjv5bQforyy4tMdvcrJIwkZ7zWPQjnnKbLqzssoxwYWlAPMnco+A8azo7424AwsdawmEEJKlgqUs5NPyW1AlZBAwRj5w\/wDasxaGMIs\/KE4NrJ7JrmR4msi5qxC7JCdq3cNpx3Z7vdUcNJS8skcz0NNmL7S4MMZylpCnVe08h\/nQBhOxglICRgAYA8K1MuKUHtUfOBroXQFZNYElncD6+VRlG47msZc3D0Tgjn9NSPHz1oqHJ9oEkfpJqF1JZkEAYSVFPupH9yFJdRyKeYI6EVDdoIigJU9coraOalPIAx7RXp9BUlICjkgYqheHFqRddZRlhP5GMkzFD+7jA\/eIq9wTzz4mu05K0ZxpTqvc2l+Dm9u1E5wh1EoNLUYPKnAnNdYmaBbh2cUbqKKkFjgaKKK5o3IUUUUATp5JTTwfGo0nlz7qcDmrYvQrtceDzpQo0wdaXcM4qdxDyfClCvGmUA4600xEoPfS5Ipm+nBQNO9wsPST1pwPjUeTQDTuRsS5GcUZx31HuFOKhipCsSAg0UwHwpwPiaaYND0mlSTTArnS5IqVyJIDmlqNJOetOyfGnmAcORpcgjvpooPQ4qVxZSr9WtLXd5rrOD+UOQRnNc6UsqVhxgg9\/Kui1U3IRdJqEnbl0kHHca5R9EgDCiceIUa82xH\/ANZebOypfYvJGQpENoEqSkHGRlVa+ZIbWpIYGAnv781FtzzUkn17qahCnXA02hSlKOAEjJJziqJaFyN4zIdluLlyF7nXVqcWrGMqUck+81K+1vQHUDKk1ixRtCUeIz0rMQ4pnmpO5NSEySI4VYx09fjXSaAu7tg17ZLsy52TiHwCr\/L6q5dCkIdJQr0T3eBpZrziGUyWVEOsqC0keIokrxBaMtHilq1F\/t1pSFHtpr8q5yFbQMpU4Qgk58d\/XwFVi0szHe3z+TRkN57\/ABVWC7cH7qpppx7clDaWc\/2B0SPpJ99bRhKUDaByA5VGiskMpKcs0idvAGNoI9lY0teFJUlG1STkGnOvDBCaw3V99WkDawXQoZBA5ekfH1VjNqLlxknuAQkfQKw4r+xeCTjrWVBKTLfdB9E+l9PhSvcDIWrGQO7rUDpxhWOncaekb0LGea1fVUUrG8pHQACmBq5DIcCjgknln10xTRdZU0OawFEf3k9QPaPrrOQgKUpZHoNjcqtZKUpsqLZO8rCvZuBOPrqp7x2LH4LQAlm4XVQwVqQwn2D0j9e33VaGR41z2irMixabhwdpDqk9s6T+mrmR9HIfRW9B8a9N2Th\/hcJCD37\/AMnF4+tz2IlNbv6EgPM04K51GlXOnZBrZGEyTeKXI8aipcmncicNRVLfKM39be\/fNHyjN\/W3v3zXnnTq7Hqdb0W+0XTRVLfKM39be\/fNHyjN\/W3v3zR06ux6h0W+0XakjGKcD4A+6qQ+UZv64\/8AENHyjO\/XH\/iGpLb6X8nqLop9ovDcc9DS7vb7qo75Snfrr\/xD99HylO\/XX\/iH76fzAux6i6J\/9F47ieWD7qdkVRnyncP11\/4h++j5Sn981\/4hp\/MK7HqHRP8A6LzyKclXdzqivlKf+uP\/ABDR8pTv11\/4hp\/MMeFP1Dol9svcHFLuFUP8pTv12R8Q\/fR8pTv11\/4h++muUUeNP1\/sHRL7ZfPWlyqqF+Up\/wCuyPiH76PlKf8Arsj4h++j5ij3fr\/YXRD7ZfgUacD41QPyncf15\/4ivvo+U7h+vSPiq++muUce79RdDvt+hf8A66Ao551QHyncf16R8VX30fKdx\/XpHxVffT+ZI936h0O+36HoHIoyK8\/fKdx\/XpHxVffR8p3H9ekfFV99HzJHu\/UXQz7foegwocudOKsDqK89fKdx\/XpHxVffQLncB\/26R8VX301ykj3fqHQ77fod5q\/cb1LTuKTuB5d4wK59bSlZBcSQRjCuRFc+5LkOnc6+4pR6kqJNMLqyc71e+ucq1+cqSl1m5hDJFR6jJkxXGFFKTuTnka3ehraZN0cuK8dlbGVSl57yB6I\/ex7q5ztVHqtR9ppzcl1nd2Ti0bhhW1RGR4GoU6ihNSavYcouUWkblHNptzlzrMbV2frFcwXV4AC1AD10du9\/tFe+lzhLKlodS5DZeSVJyMfo1CpDjaC2+klsjG7pj21zgfeHR1f7xpe3dwQXXCD1BUaOc8AsbS1NhuU62cDByK2xC1c8n3VygdUk5SpQJ780du7\/ALVf7xpKpZWsFjqVJwM4rFcWOeDXP9s7\/tV\/vGjtHO9avfQ6gWNm46QsKR1HhWyiPoUgAKCT3jxrmd6sfOV76UOODotQ+mhTsFjs21AjBPrqKRzyodVVyXbPD+dX76O2ePV1f71PnPALHQS1FSEQmiMK9N0+Ca3XD7Tg1FeVz5aT5nFdDpBHzyPmp9nj7K4UOrBJ3qOeXWpWLhLjJKI8p5sHuSsj7Ktw1anSqxnUjdLWxXWhKcHGDs2emwogYxSg+NeZ\/le6ftKV8ZX30fK90\/aUv4yvvrqfmuPdepoegX2\/Q9M\/QaBnwPurzL8r3P8AaMr4yvvo+V7n+0ZXxlffUvmuHdv8h0C+36Hp0KOOn1Ubq8xfK91\/aUr4yvvo+V7r+0pXxlffR82R7v1DoF9v0MSiiiuKOjCiiigAooooAKKKKACiiigAooooAKKKKACiiigAooooAKKKKACiiigAooooAKKKKACiiigAooooAKKKKACiiigAooooAKKKKACiiigAooooAKKKKACiiigAooooAKKKKACiiigAooooAKKKKACiiigAooooAKKKKACiiigAooooAKKKKACiiigAooooAKKKKACiiigAooooAKKKKACiiigAooooAKKKKACiiigAooooAKKKKACiiigAooooA\/\/Z\" width=\"255px\" alt=\"Depreciation Tax Shield\" \/><\/p>\n<p>Tax Shield FormulaTax Shield refers to the deduction allowed on the taxable income that eventually results in the reduction of taxes owed to the government. It is calculated by adding the different tax-deductible expenses and then multiplying the result by the tax rate. The best way to maximize the tax-saving benefits of tax shields is to take the &#8220;tax shield effect&#8221; into consideration in all business financial decisions. Businesses can take a depreciation expense for buying business property, including equipment, furniture and fixtures, and vehicles .<\/p>\n<p><img decoding=\"async\" class='aligncenter' style='margin-left:auto;margin-right:auto' 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\" width=\"251px\" alt=\"Depreciation Tax Shield\" \/><\/p>\n<p>Depreciation is the non-cash expense hence with the proper planning the net operating cash flows can be increased and better management of funds are to be done. In capital budgeting also it is one of the useful tools to decide whether to purchase the asset or to lease the asset.<\/p>\n<h2 id=\"toc-0\">Accelerated Depreciation Tax Shield?<\/h2>\n<p>Where we is the weight of equity, ke is the cost of equity, wd is the weight of debt, kd is the pre-tax cost of debt (i.e. its yield to maturity) and t is the tax rate. Taxpayers are able to claim deductions on medical and dental expenses that exceed 7.5 % of the adjusted gross income. Every company will have a different tax shield depending on its effective tax rate. Depreciation is an accounting method used to allocate costs to tangible physical assets during the course of their useful life.<\/p>\n<p><img decoding=\"async\" class='aligncenter' style='margin-left:auto;margin-right:auto' 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\" width=\"257px\" alt=\"Depreciation Tax Shield\" \/><\/p>\n<p>Standard costs are the expected costs of the resources that would be used for the production of an item. Understand the definition, importance, and advantages of standard costing, and learn how to compute for the standard costs. A tax shield also increases the value of a business, which is important if you want to sell your business or get loans and investors.<\/p>\n<p>Tax shield for an individual is beneficial when you want to buy a home, using a mortgage or a loan. This is because the mortgages interest expenses are tax-deductible, making it cheap to pay since it reduces tax liability. Interest loan for students is also another tax shield for an individual, which is also tax-deductible making it cheaper. Similar to the tax shield offered in compensation for medical expenses, charitable giving can also lower a taxpayer\u2019s obligations. In order to qualify, the taxpayer must use itemized deductions on his tax return.<\/p>\n<h2 id=\"toc-1\">Tax Rate And Tax Shield<\/h2>\n<p>Tax shields lower the overall amount of taxes owed by an individual taxpayer or a business. Interest that a person pays on debt or a loan carried on the financial statement or balance sheet is tax-deductible. This is also termed as an interest tax shield approach which will be studied in brief later. The tax savings are calculated as the amount of interest multiplied by the tax rate.<\/p>\n<p><img decoding=\"async\" class='aligncenter' style='margin-left:auto;margin-right:auto' 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\" width=\"258px\" alt=\"Depreciation Tax Shield\" \/><\/p>\n<p>Every year of ownership, you get to deduct part of the purchase price as a taxable expense. If you expect the asset to stay usable for five years, you can deduct 20% a year; if it&#8217;s 20 years, you&#8217;d deduct 5% annually.<\/p>\n<p>If an accelerated depreciation method is used, which allows for higher depreciation during the early life of an asset, then tax savings are greater during the early stages of the asset\u2019s life. Taxpayers who wish to benefit from tax shields must itemize their expenses, and itemizing is not always in the best interest of the taxpayer. It only benefits you to itemize when the total of all of your deductions exceeds the standard deduction for your filing status. Otherwise, you would be paying taxes on more income than you should be.<\/p>\n<h2 id=\"toc-2\">What Does Tax Shield Mean?<\/h2>\n<p>Inversely related with the tax payments i.e. higher the depreciation lower the taxes. Governments often create tax shield as a way to encourage certain behavior or investment in certain industries or programs. Salvage ValueSalvage value or scrap value is the estimated value <a href=\"https:\/\/www.bookstime.com\/articles\/depreciation-tax-shield\">Depreciation Tax Shield<\/a> of an asset after its useful life is over. For example, if a company&#8217;s machinery has a 5-year life and is only valued $5000 at the end of that time, the salvage value is $5000. You are required to compute and analyze cash flow and to advise as to which option is better.<\/p>\n<ul>\n<li>However, to be able to qualify for this kind of tax shield, as a taxpayer you will have to itemize deductions on your tax returns.<\/li>\n<li>Learn about the types and formulas for leverage ratios, including debt, debt-to-equity, and interest coverage ratios.<\/li>\n<li>Even though the APV method is a bit complex, it is more flexible because it allows us to factor-in the risk inherent in admissibility of interest tax shield.<\/li>\n<li>Operating leverage is a percentage of the fixed costs a business incurs and is used to determine the number of goods that must be sold to break even, and also profit levels from individual sales.<\/li>\n<\/ul>\n<p>A tax shield is the reduction in income taxes that results from taking an allowable deduction from taxable income. For example, because interest on debt is a tax-deductible expense, taking on debt creates a tax shield. Since a tax shield is a way to save cash flows, it increases the value of the business, and it is an important aspect of business valuation. This is where corporations in early years, use a number of depreciation methods to lower taxes. Corporations do this so that they can be able to maximize depreciation expense on their tax filings, given that depreciation expense is tax-deductible. Such depreciation methods may include sum-of-years-digits and double-declining balance. Since depreciation methods on total expense are the same over an assets lifetime, businesses would benefit when they remove the tax expense.<\/p>\n<h2 id=\"toc-3\">What Is A Depreciation Tax Shield, And How Does It Affect Capital Budgeting Decisions?<\/h2>\n<p>Investopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate. You can learn more about <a href=\"https:\/\/www.bookstime.com\/\">https:\/\/www.bookstime.com\/<\/a> the standards we follow in producing accurate, unbiased content in oureditorial policy. So, you could say that taking on debt has a tax benefit because you can use the interest as a tax-deductible expense. Of $2,000 and the rate of tax is set at 10%, the tax savings for the period is $200.<\/p>\n<p>Learn how the principles of IPWM\u2122 can help you create a tax-deferred investment strategy. The restrictions are basically there to ensure that the business fulfills its financial obligation to the latter. Note that in case the firm is unable to live up to the requirements of an agreement, then it may find itself in financial crisis because of the pressure the firm is under. This makes the debt to be even more expensive for the firm to service hence lowering the value of the business.<\/p>\n<h2 id=\"toc-4\">Tax Shield Definition<\/h2>\n<p>A tax shield is a reduction in taxable income that results from taking advantage of a tax deduction. A company has a tax shield when it can use tax deductions to reduce its taxable income.<\/p>\n<ul>\n<li>Itemizing deductions allows some taxpayers to reduce their taxable income, and thus their taxes, by more than if they used the standard deduction.<\/li>\n<li>Cash FlowCash Flow is the amount of cash or cash equivalent generated &amp; consumed by a Company over a given period.<\/li>\n<li>When deciding to take a mortgage to purchase a building for their business, a tax shield will be created as a result.<\/li>\n<li>The interest may be too high in that the taxpayer may find himself not able to make the payments.<\/li>\n<li>The Interest Tax Shield is similar to the Depreciation Tax Shield, but the tax savings come from Interest Expense .<\/li>\n<li>This will become a major source of cash inflow, which we saved by not giving tax on depreciation amount.<\/li>\n<li>To make informed business decisions, companies need to disclose their financial information to assess existing and long-term financial health.<\/li>\n<\/ul>\n<p>Below are the Depreciation Tax Shield calculations using the Straight-Line approach. In each year, we would multiply the Depreciable Base by the Depreciation percentage in Step #3 above to calculate the expense in each year. Let\u2019s take a look at how we would calculate Depreciation with each approach. Below, we take a look at an example of how a change in the Depreciation method can have an impact on Cash Flow .<\/p>\n<p>However, the straight-line depreciation method, the depreciation shield is lower. For example, if a company has cash inflows of USD 20 million, cash outflows of USD 12 million, its net cash flows before taxation work out to USD 8 million.<\/p>\n<p>Moreover, they use different depreciation methods like the sum of years digits and double-declining balance method to lower taxes for recent years. Similarly, it plays an essential role in deciding the type of depreciation method that a company follows. However, this must be noted that the type of method only matters with the time value of money and no impact on the total amount over the useful life. The effects of the tax shield approach must be used in cash flow analyses since the amount of cash paid is impacted. The strategy can increase the value of a business, as it reduces the tax liability that would have in turn decreased the value of the entity\u2019s assets. For example, if one spends $1,000 on an asset and its book value is reduced to $800 the following year, the depreciation tax shield is $200. To see how this formula is used, let\u2019s take the following example where a company has $100,000 in depreciation expense and an effective tax rate of 20%.<\/p>\n<p>If the business puts the tax shield benefit from the mortgage into the decision, the tax benefit of a mortgage might make the decision easier. A mortgage is a classic tax shield for both individuals and businesses.<\/p>\n<h2 id=\"toc-7\">Money Guide For Self<\/h2>\n<p>Though it reduces cash on hand, it, on the other hand, places money on investments which in turn results in higher returns which are a desire for any business owner. Hence, we can see from the above example due to the depreciation tax shield the operating inflow is to be better managed. By comparing the above two options calculated, we came to the conclusion that the present value in case of buying by taking a tax shield is lower than the lease option. Tax AdvantageTax Advantage are the types of investments or saving plans that benefit tax exemption, deferred tax, and other tax benefits. This is a noncash item, but we get a deduction from our taxable income.<\/p>\n<p>Tax shields are named so because they help to shield income from taxes. By taking various forms of tax deductions, income can be offset (i.e., reduced), resulting in a lower tax bill.<\/p>\n<p>It just depicts the utilization and benefit of the time value of the money to push tx expenses out as far as possible. The information featured in this article is based on our best estimates of pricing, package details, contract stipulations, and service available at the time of writing.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Content Accelerated Depreciation Tax Shield? Tax Rate And Tax Shield What Does Tax Shield Mean? What Is A Depreciation Tax Shield, And How Does It Affect Capital Budgeting Decisions? Tax Shield Definition Statement Of Net Cash Inflow In Case Of Loan What Is A Tax Shield? Money Guide For Self An Overview Of Itemized Deductions Tax Shield FormulaTax Shield refers &#8230; <\/p>\n<div><a href=\"https:\/\/informatickaakademija.com\/students\/2020\/03\/30\/how-to-calculate-a-depreciation-tax-shield\/\" class=\"more-link\">Read More<\/a><\/div>\n","protected":false},"author":7,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-745","post","type-post","status-publish","format-standard","hentry","category-uncategorized","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/informatickaakademija.com\/students\/wp-json\/wp\/v2\/posts\/745","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/informatickaakademija.com\/students\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/informatickaakademija.com\/students\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/informatickaakademija.com\/students\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/informatickaakademija.com\/students\/wp-json\/wp\/v2\/comments?post=745"}],"version-history":[{"count":1,"href":"https:\/\/informatickaakademija.com\/students\/wp-json\/wp\/v2\/posts\/745\/revisions"}],"predecessor-version":[{"id":746,"href":"https:\/\/informatickaakademija.com\/students\/wp-json\/wp\/v2\/posts\/745\/revisions\/746"}],"wp:attachment":[{"href":"https:\/\/informatickaakademija.com\/students\/wp-json\/wp\/v2\/media?parent=745"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/informatickaakademija.com\/students\/wp-json\/wp\/v2\/categories?post=745"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/informatickaakademija.com\/students\/wp-json\/wp\/v2\/tags?post=745"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}