A Project's Terminal Value Is _____

A project's terminal value is _____.

A) the present value of all the cash outflows including the initial cost of investment
B) the cash inflow in the last year of the project
C) the sum of the future values of the cash inflows compounded at the firm's required rate of return
D) the sum of the cash inflows after full recovery of the initial investment in the project
E) the excess of the cash outflows over the cash inflows generated by the project