## Capital Budgeting |

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### Contents

INTRODUCTION | 1 |

Meaning of Capital Investment 1 Significance of Capital Invest | 12 |

Outlay for Capital Investment 14 Annual Net Cash Flows | 29 |

Copyright | |

5 other sections not shown

### Common terms and phrases

7Z ZZ accept accounting rate after-tax amount analysis annual cash annual net cash annuity asset assume assumption book value calculations capital budgeting capital rationing cardinal utility cash benefits cash flows cash inflows cash outlays Chapter common stock conflicting projects conflicting proposals consider cost of capital depreciation dollar earnings ent value equity estimates expected value expenditures expense firm firm's funds future cash flows gain initial outlay investment decisions investment proposals investor IZ0 IZ0 less market price market value maximize the market measure ment million old machine opportunity cost payback period payments percent possible outcomes post audit present value probability distribution problem procedures Profitability Index proposed capital investment proposed investment rank rate of return reinvested risk class risk-adjusted discount rate risk-adjusted rate risky shareholders shown subset Table tax rate tax shield terminal value tion utility function wealth ZZ 7Z