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All of the following are related to a proposed project. Which should be included in the cash flow at time zero? I. initial inventory increase

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All of the following are related to a proposed project. Which should be included in the cash flow at time zero? I. initial inventory increase of $2,500 II. loan of $125,000 III. depreciation tax shield of $1,100 IV. initial purchase of $6,500 of fixed assets I,II, and IV only I and IV only I, II, III, and IV I and II only II and IV only

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