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Free cash flow:
How much cash can I return to investors?
Forecasted income statement:
Used to Estimate free cash flow.
Incremental Cash flow:
the additional cash flow generated (or lost) by undertaking the project
Sunk Cost?
Ignore sunk cost! Money lost regardless of outcome.
Opportunity cost:
the value of the next best alternative that is foregone when a decision is made
Robustness checks:
the ability of an investment decision about a project to remain reliable under a variety of conditions