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What is the most critical step in the capital budgeting

1. What is the most critical step in the capital budgeting process? Why are there no "absolute" answers to capital budgeting decisions?

2. What is the relationship between NPV and discounted payback period. How would you use these concepts in evaluating the economic value of your course of study?

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Business Management: What is the most critical step in the capital budgeting

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