Apply your knowledge about cash flow concepts and select the example that does NOTrepresent a sunk cost.a$)$ Warrior paintbox paid R$1$ million to Research Africa to conduct market research about thedemand for a new product.b$)$ Green$-$Bikes invested R$1,5$ million in inventories of imported parts at the start of its projectto manufacture e$-$bikes.c$)$ R$2$ million was paid by MEDVAC to protect their intellectual property rights on a newvaccine that they developed.d$)$ Electricity Solutions Manufacturers spent R$4,5$ million on research and development costwhen they realised that they must manufacture solar panels that should comply with newregulations. These solar panels should be manufactured and sold at a price that will delivertheir expected return on capital investments.