68. Which of the following is not a characteristic of a capital project? a. Assets being evaluated represent a large expenditure of funds. b. Funds are committed for a short period of time. c. Once the investment is made, it is costly to reverse. d. All of the above are characteristics of a capital project. 69. An asset has a book value of $25,000. The firm can sell the asset for $16,000. The firm has a tax rate of 40%. are the net proceeds from the sale? a. $3,600 b. $9.000 c. $16,000 d. $19,600 70. Which one of the following is not true about cash flows? a. Accounting profits should be used as a measurement tool. b. Cash flows should be measured on an incremental basis c. Cash flows should be measured on an after-tax basis. d. All the indirect effects of a project should be included