Given the following list of outlays, indicate whether each is normally considered a capital expenditure or an operating expenditure.

a. An outlay of $27,200 for a marketing research report.

b. A $300 outlay for an office machine.

c. An outlay of $1,758,000 to purchase copyrights from an author.

d. A $180,000 investment in a portfolio of marketable securities.

e. An outlay of $3,100,000 for a major research and development program.

f. An outlay of $3,500 for a new machine tool.

g. An outlay of $3,457,000 for a new building.

h. An initial lease payment of $12,600 for electronic point-of-sale cash register systems.