If your required rate of return is 6%, the present value of $1,000 to be received three years from today is $839.60. a. FALSE b. TRUE 16:49 In net present value analysis, the purchase of equipment today results in a cash outflow that is not discounted. a. TRUE b. FALSE 16:49 Incremental profit is the additional revenue received as a result of selecting one decision alternative over another. a. TRUE b. FALSE 16:52 A budget is useful in the planning process because it a. identifies budget padding. b. forces managers to think about goals and objectives and means of achieving them. C. determines who is to blame for poor operations. d. creates budget slack. 17:01