The marketing manager of a large UK subsidiary of a multinational plc: Surely the interest rate that
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The marketing manager of a large UK subsidiary of a multinational plc: ‘Surely the interest rate that we should use to discount cash fl ows in our appraisal of new capital investment projects should be our bank overdraft interest rate. I don’t really see the relevance of the weighted average cost of capital (WACC) to this type of exercise.’ Discuss.
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