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Which of the following is NOT a cash flow that should be included in the analysis of a project? A. Changes in net operating working

Which of the following is NOT a cash flow that should be included in the analysis of a project?

A.

Changes in net operating working capital.

B.

Shipping and installation costs.

C.

Cannibalization effects.

D.

Opportunity costs.

E.

Sunk costs that have been expensed

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