Choice of Depreciation Methods for Farm Firms
指出加速折旧法通常被认为能增加农业企业税后现金流现值，但该结论依赖于恒定边际所得税率的假设，而许多农业企业并不满足这一条件。通过数值分析和资本预算案例，文章表明在税率较低或贴现率较低时，直线折旧法更优，因此无法给出通用的折旧方法建议。
Abstract Accelerated depreciation methods are usually considered to increase the present value of after‐tax cash flows for farm firms compared to straight line methods. Review of the theoretical foundations of this conclusion indicates that it requires an assumption of constant marginal income tax rates, which is inappropriate for many farm firms. Numerical analysis of a more general theoretical model and a detailed capital budgeting example both indicate that straight line methods are preferred with income tax rates below maximum levels and/or lower discount rates. General recommendations on depreciation methods are therefore impossible.