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Imagine that you are a financial analyst, and your manager approaches you with a capital budgeting exercise. Your manager is not sure whether you should

Imagine that you are a financial analyst, and your manager approaches you with a capital budgeting exercise. Your manager is not sure whether you should discount the project cash flows or expected future net income from the project. Comment on the correct approach and explain your reasoning. What are the consequences if you selected the incorrect option?

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