The working capital requirements for a new project are due to the required inventory levels. The firm requires an inventory valued at $20,000 in time period 0, $40,000 in time 1 and $0 in time 2. If these are the only working capital requirements, which of the following is true?

(a) the cash flow arising from working capital requirements in time period 2 is $40,000

(b) the cash flow arising from working capital requirements in time period 2 is $-40,000

(c) the cash flow arising from working capital requirements in time period 2 is $-20,000

(d) there are no cash flows in time period 2 arising from working capital requirements