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10a What is capital budgeting? 10b What is the difference between independent and mutually exclusive projects? 10c (1) Define the term net present value (NPV).

10a What is capital budgeting?

10b What is the difference between independent and mutually exclusive projects?

10c (1) Define the term "net present value (NPV)." What is each franchise's NPV?

10d (1) Define the term "internal rate of return (IRR)."

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