Which of the following is NOT a step of Capital Budgeting a

Which of the following is NOT a step of Capital Budgeting?

a. Calculate the interest payments to be made on money borrowed to invest in the project.

b. Estimate Cash Flows

c. Determine the appropriate cost of capital Find NPV and/or IRR

d. Accept the project if NPV>0 and/or IRR>WACC

Calculate the interest payments to be made on money borrowed to invest in the project.