Capital budgeting is the process of identifying, evaluating, and implementing a firms investment opportunities. Capital budgeting projects usually require large initial investments, and may involve acquiring or constructing plant and equipment.

Discuss the parts below in an elaborate way. Please explain thoroughly

Part 1. Discuss the stages in the capital-budgeting process.

Part 2. How do mutually exclusive and independent projects differ?

Part 3. What kinds of non-financial information are needed in order to conduct the analysis of a project?