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We are told that in capital Budgeting Analysis, sunk costs are irrelevant. If the firm spent resources for the asset, should it not be able

We are told that in capital Budgeting Analysis, sunk costs are irrelevant. If the firm spent resources for the asset, should it not be able to recover these costs from the project?

The IRR is very intuitive to understand. Why is it not superior to the NPV in Capital Budgeting Analysis?

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