Which of the following are costs that Turnkey Systems Inc. paid in the past and are irrecoverable? (Accepting or rejecting a project will not change these costs, so they should not be included in a capital budgeting analysis.) Opportunity costs Sunk costs Incremental revenues Which of the following factors should Turnkey Systems Inc. include in its capital budgeting analysis? Check all that apply. Turnkey's forecasted cash flows are expressed on an after-tax, as opposed to pre-tax, basis. Turnkey expects its accounts receivable to decrease by $50,000 as a result of the project. Turnkey's annual common stock dividends total $435,000. Turnkey's replacement of an inefficient machine with a new, more efficient unit will reduce raw materials waste by $10,000 per year