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Part lis THE ECONOMISTS ARGUMENT 57
Part IIIs AN EVALUATION OF THE ECONOMISTS
B The Multiple Tangency Issue
6 other sections not shown
accounting rate alternative appropriste assumed assumption borrowing rate capital budgeting process cash flow stream company's compound interest decision compound interest models concerned considered convention cost of capital decision-maker design decision determine difference in cash discounted discrete Doctor of Philosophy dual solution economic economists estimates evaluated example financing decision financisl fiscal period future Grant and Ireson imperfect capital market important increment investment indifference curves interest decision rules interest rates investment decisions investment opportunities investment proposals involved isoquant analysis issue Joel Dean lending rate market opportunity market rate ment minimum attractive rate multiple tangencies negative cash flow overall payback perfect capital positive cash flow post-audit preferable present worth method present worth rule productive investments profitability project X question rate of interest rate of return result return approach return rule rule fails situation solving rate study period surplus tions top management treated various varistion vestment yardstick zero