-.If your capital budgeting extends 5 years and my capital budgeting extends 20 years, does it mean (everything else being equal) that my NPV will be larger than your NPV? Explain.

-How do you choose growth rate for terminal value (growing perpetuity)?

-I run a publishing house and my compensation is linked to earnings. My largest expenses are large printers (capital expenditure) and printing paper (cost of production). I spend 10 million on printers (one time expense) and 20 million on paper (every year). I hire smart accountants and they classify printers as cost of production and printing paper as capital expenditure. I am happy! Why am I happy? Do you think it is legal to do it? If not, why?