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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 capital.

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

A. Changes in net operating capital.

B. Shipping and installation costs.

c. Cannibalization effects.

D. Opportunity Costs

E. Sunk costs that have been expensed for tax purposes.

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