Your project is 10% complete when due to a sudden change in market conditions, management analyzes whether to proceed with the project or not. In one such discussion, a stakeholder says that you have already spent a lot of money so they will have to consider this point as well. However, you tell him that this cost is already incurred and should not affect future decisions. This cost is known as:

(a) Direct cost

(b) Sunk cost

(c) Spent cost

(d) Indirect cost