Cash Flow Estimation in Capital Budgeting

A company is considering a new project that requires an initial investment of $150,000. The project is expected to generate cash inflows of $30,000 per year for five years. In addition to the cash inflows, the company anticipates that operating expenses will increase by $5,000 per year due to this project. In estimating the cash flows for this project, which of the following items should be included in the cash flow estimation?