Hill Top Lumber Company Is Considering Building a Sawmill in the Province

Hill Top Lumber Company is considering building a sawmill in the province of Limpopo because the company doesn't have such a facility to service its growing customer base that is located in the region.Hill Top's executives believe that future growth in the regions' customers will make the sawmill project a good investment.When evaluating the acceptability of the project, which of the following would not be considered a relevant cash flow that should be included when determining its initial investment outlay?

A) Hill Top owns acreage that is large enough and would be an ideal location for the sawmill.The land, which was purchased five years ago, has a current value of R3 million.
B) It is estimated that the cost of building the sawmill will be R175 million.
C) It will cost R3 million to clear the land on which Hill Top wants to build the sawmill.
D) It is estimated that R20 million of business from existing customers will move to the new sawmill.
E) All of these cash flows should be included in the computation of the sawmill's initial investment outlay.