A corporation is contemplating an expansion project. The CFO plans to calculate the projects NPV by discounting the relevant cash flows (which include the initial up-front costs, the operating cash flows, and the terminal cash flows) at the corporation's cost of capital (WACC). Which of the following factors should the CFO include when estimating the relevant cash flows?

Group of answer choices

Any sunk costs associated with the project.

Any interest expenses associated with the project.

Any opportunity costs associated with the project.

All past costs associated with the original project.