Question: Operating expenses, such as training costs, which are required to launch a project... 1 will be part of NOPAT in the initial investment. 2 will

Operating expenses, such as training costs, which are required to launch a project...
1
will be part of NOPAT in the initial investment.
2
will not be part of NOPAT in the initial investment.
3
will not affect taxes considered in the initial investment.
4
will increase the taxes paid as part of the initial investment.

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