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Chapter 12 on Capital Budgeting introduces you to how and why a project or investment , is reviewed , and either accepted or rejected. Discuss

Chapter 12 on Capital Budgeting introduces you to how and why a project or investment , is reviewed , and either accepted or rejected. Discuss why we use present value concepts with cash flows as a major decision point. Why don't we just use actual cash flows as they come in year over year? Why bother discounting them back to the present ?

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