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Which of the following does NOT go into the calculation of the Initial Outlay according to the textbook? 1.Purchase price of the equipment 2.Shipping costs

Which of the following does NOT go into the calculation of the Initial Outlay according to the textbook?

1.Purchase price of the equipment

2.Shipping costs

3.Investing in working capital

4.After-tax proceeds from the sale of the new equipment purchased for the project

5.All of the above are included in the initial outlay calculation.

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