Which of the following factors should be included in the cash flows used to estimate a project's NPV? Select one O a. All costs associated with the project that have been incurred prior to the time the analysis is being conducted O b. The investment in working capital required to operate the project. O c. Cannibalization effects, but only if those effects increase the project's projected cash flows O d. Expenditures to date on research and development related to the project, provided those costs have already been expensed for tax purposes. As part of a capital project, there are many reasons that a firm may need to dispose of a capital asset. Which of the following are cash flows that should be included in a capital budgeting decision? Select one a. The proceeds from the sale and the tax effect of the gain or loss b The amount of the gain or loss, net of the related tax effect c. The tax effect of the gain or loss O d. The amount of the gain or loss O e. The proceeds from the sale