13 E Sunk costs that have been expensed for tax purposes. Question 5 Estimating project cash flows is generally the most important, but also the most difficult, step in the capital budgeting process. Methodology, such as the use of NPV versus IRR, is important, but less so than obtaining a reasonably accurate estimate of projects' cash flows. A True B False 2 Points Question 6 2 Points Any cash flows that can be classified as incremental to a particular project - i.e., results directly from the decision to undertake the