1 Which of the following does NOT go into the calculation of the Initial Outlay according to the textbook? Purchase price of the equipment Shipping costs Investing in working capital After-tax proceeds from the sale of the new equipment purchased for the project All of the above are included in the initial outlay calculation. 2 Which one of the following is NOT part of capital budgeting calculation? Calculating annual cash flows for the life of the new project. Calculating the cash flow when the firm terminates the project. Calculating the estimated value of the stock when the firm terminates the project. O Calculating the initial cost of the new project to start. All of the above are parts of capital budgeting calculation