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 other response options should be considered.