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1. Briefly discuss and comment on some of the advantages and shortcomings of NPV and IRR. 2. Suppose you operate a small business and you

1. Briefly discuss and comment on some of the advantages and shortcomings of NPV and IRR. 2. Suppose you operate a small business and you have limited resources to invest in expanding business, will NPV or IRR be used in your capital budgeting? Please also provide reasons for your answer.

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