Budgeting Process and Capital Expenditure Budget: A manufacturing company is preparing its capital expenditure budget for the next fiscal year. The company plans to invest in new machinery costing $200,000 and upgrade its facilities at a cost of $100,000. Additionally, the company plans to spend $50,000 on research and development projects. Prepare the company's capital expenditure budget and discuss the importance of capital budgeting in long-term investment planning and resource allocation.