Why is the gain in a firm’s value greater when more of its future foreign currency income is in the low tax region of the tax code? Why would a firm ever forgo a positive NPV project? How can hedging...

Why is the gain in a firm’s value greater when more of its future foreign currency income is in the low tax region of the tax code? Why would a firm ever forgo a positive NPV project? How can hedging help prevent this situation from arising?