Issues in Capital Budgeting II. FINA 4463 (Chapter 12 in text). Capital Rationing. Capital Rationing. Usual assumption is that firm should accept all NPV>0- projects What if firm has a number of NPV>0 projects, but doe not have resources to take on all of them?
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(Chapter 12 in text)
Two types of capital rationing:
vs. replace in year 2
vs. replace in year 3