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1) From the perspective of a financial manager, what are the important administrative considerations in the capital budgeting process? How would you justify their inclusion in the process? 

2) While the budgeting techniques described in Chapter 12 are intended to be used by the modern, sophisticated business manager, not everyone uses them. Consider people who do capital budgeting analyses for smaller, privately held business firms. What techniques would be most appropriate for their situation and how would you determine their success? 

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