Next you review data for a replacement project to upgrade robots to ESG standards. The preliminary budget is below. Put an X next to the budget items that would NOT be included in project cash flows.

Budget:

Market Research $25,000

Decrease in annual electricity $35,000

Lost revenue in robot downtime $125,000

Increase in working capital $55,000

Continued robot maintenance cost $10,000

Increased revenue from robots $200,000