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When evaluating Capital Budgeting decisions, which of the following items should NOT be included in the construction of cash flow projections for purposes of analysis?

When evaluating Capital Budgeting decisions, which of the following items should NOT be included in the construction of cash flow projections for purposes of analysis?

a. net salvage value

b. changes in net working capital

c. shipping and installation

d. interest expense from financing

a and d

b and c

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