Engineering Economics
The sunk costs include:

An invested capital that cannot be retrieved
An unrecovered balance
A past expenditure
All of these

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Engineering Economics
Pick up the correct reason for making conceptual (or preliminary) estimate from the following:

To have a check on a definitive cost estimate
To check quotations from contractors and/or sub-contractors
To compute target estimate for the owner while drawing and specifications are in initial stage
All of these

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