Which of the following would be considered a capital budgeting decision for Apple Computer?

a.

A $5 billion purchase of trademarks and patents from Blackberry

b.

Issuing $5 billion of preferred shares to buy back existing bonds

c.

An issue of $5 billion of bonds to pay for a new manufacturing plant

d.

Repurchasing $5 billion worth of common shares

e.

An increase in capital by selling new common shares