$1$ Capital Budgeting vs$.$ Capital Rationing

$-$ Differentiate Capital Budgeting and Capital Rationing

$-$ What is the preferred technique or measure to be used in a situation where there is Capital Rationing?

#$2.$ Suppose the NPV for a project's cash flows is computed to be $$2,500.$ What does this number mean for shareholders?

#$3.$ What are two advantages and two disadvantages for discounted payback?