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When identifying the relevant cash flows for capital budgeting purposes, the change in net working capital is included in the computation of ____________________. 1)initial investment

When identifying the relevant cash flows for capital budgeting purposes, the change in net working capital is included in the computation of ____________________.

1)initial investment and operating cash flow

2)operating cash flow and terminal cash flow

3)initial investment and terminal cash flow

4)the after-tax proceeds from the sale of asset

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