The Nantell Corporation just purchased an expensive piece ofequipment. Assume that the firm planned to depreciate the equipmentover 5 years on a straight-line basis, but Congress then passed aprovision that requires the company to depreciate the equipment ona straight-line basis over 7 years.Â Other things heldconstant, which of the following will occur as a result of thisCongressional action? Assume that the company uses the samedepreciation method for tax and stockholder reporting purposes.
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