Corporate Investment and Financing Decisions 1-9 Are the following capital budgeting or financing decisions? a. Intel decides to spend $1 billion to develop a new microprocessor. b. Volkswagen borrows 350 million euros (350 million) from Deutsche Bank. C. Royal Dutch Shell constructs a pipeline to bring natural gas onshore from a production platform in Australia d. Avon spends 200 million to launch a new range of cosmetics in European markets. e. Pfizer issues new shares to buy a small biotech company