1st drop down box: a sunk cost/opportunity cost

2nd: irrelevent/relevent cash flow

3rd: irrelevent/relevent cash flow

4th: irrelevent/relevent cash flow

5th:a sunk cost/opportunity cost

6th: irrelevent/relevent cash flow

Iridium Corp. has spent $3.1 billion over the past decade developing a satellite-based telecommunication system. It is currently trying to decide whether to spend an additional $354 million on the project. The firm expects that this outlay will finish the project and will generate cash flow of $14.1 million per year over the next 5 years. A competitor has offered $444 million for the satellites already in orbit. Classify the firm's outlays as sunk costs or opportunity costs, and specify the incremental cash flows. The $3.1 billion already spent is and it is (Select from the drop-down menus.) (Select from the drop-down The $354 million is an incremental cash outflow and it is menus.) (Select from the drop-down The $14.1 million per year is a cash inflow and it is menus.) and it is (Select from the The $444 million offer for satellites is drop-down menus.)