The bottom-up approach for calculating project operating cash ﬂow does not require you to add
back noncash deductions such as depreciation.

Name: The bottom-up approach for calculating project operating cash ﬂow does not require you to add back noncash deductions such as depreciation.
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The bottom-up approach for calculating project operating cash flow does require you to add back noncash deductions such as depreciation.

The Bottom-Up Approach for Calculating Project Operating Cash ﬂOw Does