NPV

No this is unlikely but if you did have a case of a negative operating cash flow resulting in a tax saving, this is effectively a cash inflow for the project. This means that instead of paying tax, the company benefits from a reduction in its overall tax liability due to the negative cash flow.

thank you ! is that mean i did it wrong? Only the fixed cost they've mentioned it ($000/a year 3000) if i put 3000000 instead 3000 it will become negative cash flow, and i didn't know what to do with tax so i consider it Zero in that year , as result i got negative NPV ? will i lose a lot of mark if i every thing else was correct? - there was capital working and depreciation and inflation - is all that will be wrong - i don't want to fail section A and B was so hard and most of it theoretic questions so i kind of relay on section C questions

You will get marked accordingly to OFR So if you made a mistake the marker will follow the error through. You will receive partial credit for those components.

thank you so much! i appreciate your help! i have just to wait the result ...

I saw your post Well done on passing your FM exam