Which of the following is not considered a relevant factor in estimating the incremental cash flows of a proposed capital project?

A) Pre-startup expenditures
B) Financing costs
C) Incremental working capital requirements
D) Taxes on incremental expenses and earnings

Pre-Startup Expenditures

Expenses incurred during the formation and planning stages of a business, prior to its official launch or operation.

Financing Costs

Expenses incurred by a company in the process of raising funds, including interest payments, fees, and other charges.

Incremental Working Capital

The additional amount of net working capital that a company needs to invest in a project.