Which of the following is true about the net present value method of evaluating investment projects? Depreciation is ordinarily treated as an annual cash outflow. Cost savings related to a project are ordinarily treated as cash inflows. Working capital is ordinarily treated as a cash inflow at the beginning of the project and a cash outflow at the end of a project. The salvage value of new equipment purchased for a project is ordinarily treated as a cash outflow at the end of a project