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What is capital budgeting? Why are capital budgeting decisions often difficult and risky?Briefly describe the time value of money. Why is the time value of

What is capital budgeting? Why are capital budgeting decisions often difficult and risky?Briefly describe the time value of money. Why is the time value of money important in capital budgeting? When making capital budgeting decisions, companies usually prefer shorter payback periods. Explain why shorter payback periods are desirable.

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