compn is considering new project. The CFO plns to clculte the project's NPV b estimting the relevnt csh flows for ech er of the project's life (i.e., the initil investment cost, the nnul operting csh flows, nd the terminl csh flows), then discounting those csh flows t the compn's overll WCC. Which one of the following fctors should the CFO be sure to INCLUDE in the csh flows when estimting the relevnt csh flows?

	.	ll sunk costs tht hve been incurred relting to the project.
	b.	ll interest expenses on debt used to help finnce the project.
	c.	The dditionl investment in net operting working cpitl required to operte the project, even if tht investment will be recovered t the end of the project's life.
	d.	Sunk costs tht hve been incurred relting to the project, but onl if those costs were incurred prior to the current er.
	e.	Effects of the project on other divisions of the firm, but onl if those effects lower the project's own direct csh flows.