In general, the appropriate marginal tax rate used in calculating cash flows and the discount rate should be that applicable to the country in which the cash flows are produced.

Question

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The appropriate marginal tax rate and discount rate for a cash flow should be based on the country in which the cash flow is being produced. This is because tax rates and economic conditions vary across different countries and can significantly impact the cash flows and discount rates used for investing and financial decision-making.

In General, the Appropriate Marginal Tax Rate Used in Calculating