Choice "D" is correct. The method of funding the project has no effect on the net present value model. NPV uses a hurdle rate to discount cash flows. If the NPV is positive, the project is acceptable. The method of financing the project, and the cost, are independent of the process of screening the project for acceptability.
Choice "b" is incorrect. The initial cost is one of the most important items in the calculation of NPV.
Choice "a" is incorrect. Added working capital requirements and salvage value affect cash flow. All cash flows are used in the NPV model.
Choice "c" is incorrect. The tax depreciation allowance will provide a "tax shield" or tax savings that impacts cash flow and must be considered in NPV analysis.