Luke's itemized deductions in calculating taxable income are as follows:
Definitions:
Net Advantage
The total benefits minus the total costs of an investment or decision, used to determine its overall value or utility.
MACRS Depreciation
A method of depreciation used for tax purposes in the United States, allowing businesses to recover the cost of an asset over a specified life span through annual deductions.
Incremental Cash Flow
The additional operating cash flow that an organization receives from taking on a new project.
Tax Rate
The percentage at which an individual or corporation is taxed by the government on income or profits.
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