The top-down approach to computing the operating cash flow: A. ignores all noncash items. B. applies only if a project produces sales. C. can only be used if the entire cash flows of a firm are included. D. is equal to sales - costs - taxes + depreciation. E. includes the interest expense related to a project. An increase in which one of the following will increase the operating cash flow? A. employee salaries B. office rent C. building maintenance D. equipment depreciation E. equipment rental Tax shield refers to a reduction in taxes created by: A. a reduction in sales. B. an increase in interest expense. C. noncash expenses. D. a project's incremental expenses. E. opportunity costs