Why are financing costs not considered relevant in estimating cash flows from a project?

Group of answer choices

Financing costs are the same as sunk costs and cannot be recovered.

Financing costs are accounted for as part of depreciation expense.

Financing costs are cash flows going to investors, not coming from the project. Therefore they are accounted for as part of the cost of capital of the project, not the projects cash flows.

Financing costs include things like interest expense and required returns to shareholders. These items cannot be measured or estimated, therefore they are not included as part of the cash flows.