Which of the following is not a relevant cash flow and thus should not be reflected in the analysis of a capital budgeting project? Shipping and installation cost Externalities. Opportunity costs. Sunk costs that have been paid for. Changes in net working capital Scenario analysis Answers "what if" question. Provides a range of possible outcomes. Examines several possible situations. Both (b) and (c). None of the above. In the statement of cash flow, cashed used to purchase fixed assets is considered activity. operating financing noncash investing producing Which capital budgeting decision criterion assumes that positive cash inflows are reinvested at the project's internal rate of return? MIRR IRR NPV Discounted Payback Profitability Index