Makonis DEc-13Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA AFM Exams › Makonis DEc-13This topic has 1 reply, 2 voices, and was last updated 8 years ago by John Moffat.Viewing 2 posts - 1 through 2 (of 2 total) AuthorPosts November 12, 2015 at 1:39 pm #281959 dragon76MemberTopics: 50Replies: 77☆☆Dear John, In this question, why calculate the FCFE, the answer ignore the impact of taxation, they do not minus 20% tax from the cash flow, pls. explain November 13, 2015 at 6:46 am #282080 John MoffatKeymasterTopics: 56Replies: 53809☆☆☆☆☆The existing free cash flows must already be after tax.With regard to the synergy, the answer assumes that the cash benefit is the net cash benefit (i.e. after any tax), which is sensible.AuthorPostsViewing 2 posts - 1 through 2 (of 2 total)You must be logged in to reply to this topic.Log In Username: Password: Keep me signed in Log In