Which of the following statements about capital budgeting cash flow estimation is most correct?

		a. Interest expense on any loans used to acquire the equipment must be included in the projects cash flows.
		b. Money spent last year on a consulting report must be included in the projects cash flows.
		c. Opportunity costs associated with land usage must be included in the projects cash flows.
		d. Any impact on the cash flows of existing (current) projects must be included in the projects cash flows.
		e. Answers (c) and (d) are correct.