In cash flow estimation, depreciation shelters company’s income from

expansion
salvages
taxation
discounts

The correct answer is C. taxation.

Depreciation is a non-cash expense that allows companies to reduce their taxable income. This can lead to significant tax savings, which can improve a company’s cash flow.

Expansion is the process of increasing the size or scope of a business. This can be done by acquiring new assets, opening new locations, or launching new products or services. Expansion can be a major undertaking, and it often requires significant investment.

Salvage is the value of an asset that can be recovered after it has been used up. For example, the salvage value of a car is the amount of money that can be obtained by selling it after it has been driven for a certain number of years. Salvage value is not typically considered when calculating depreciation.

Discounts are reductions in the price of goods or services. They can be offered by businesses to attract customers or to clear out inventory. Discounts do not affect a company’s taxable income.