When evaluating whether to proceed with a project, the firm should consider all of the following factors except which one? (i. e., which is a "not relevant" versus "relevant" cash flow? )
changes in working capital attributable to the project
previous expenditures associated with a market test to determine the feasibility of the project.
the current market value of any equipment to be sold and replaced.
the resulting difference in depreciation if the project involves a replacement decision.
all of the above should be considered.
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