You have inherited a block of land from you father and it has just been recently rezoned from "Rural agriculture" to "Commercial low density industrial" You are considering developing the land into a small warehouse complex. You have approached a local bank for the necessary finance and they have asked for a business plan including an NPV analysis (using eight percent per annum compounding monthly as a discount rate). Which of the following would NOT be included in the NPV analysis? a. The cost of driveway construction to connect the warehouse to the major road close by. b. The loan establishment fee charged by the bank. c. The council fees for water and electricity connection. d. The fee you have already paid to an architect for some preliminary drawings.
