Lexi, Lauren and Madeleine continued their discussion. “Most errors in capital budgeting occur when adjusting for the time value of money,” said Lexi. “No”, said Lauren, “most errors occur when one is interpreting results.” “Again, you are both wrong,” said Madeleine. “Most errors occur because of one errs in estimating the relevant cash flows.” What do you think? Is Lexi right? Is Lauren right? Is Madeleine right? Are none of them correct? Support your answer with examples, as appropriate.