A. The tax effects of future asset depreciation are included in discounted cash flow analysis.

B. Future operating cash savings are included in discounted cash flow analysis.

C. This is an example of a question where you have to choose the best answer, even though it may not be fully correct. Future asset depreciation expense is included in discounted cash flow analysis in order to calculate its tax effect. However, the actual amount of the depreciation expense itself is not an item that is included in discounted cash flow analysis.

D. The current asset disposal price (if there is a current asset that will be disposed of) is included in discounted cash flow analysis.