In this final Phase, you will be learning about the concept of the capital budgeting, the different techniques that are commonly employed in making capital budgeting decision, and how each is calculated. This concept, along with the time value of money concept and the cost of capital, will be employed in addressing the Phase 5 tasks and is related to the tasks that you completed in Phases 2 and 3.

In your initial post, identify and recommend at least 1 credible Web site that discusses the process of calculating the models most commonly used to support capital budgeting decisions, and address at least 3 of the following topics:

• What is the capital budgeting, and what role does it play in long-term investment decisions?
• What are the basic capital budgeting models, and which ones are considered the most reliable and why?
• What is net present value (NPV), how is it calculated, and what is the basic premise of its decision rule?
• What is the internal rate of return (IRR), how is it calculated, and what is the basic premise of its decision rule?
• What is the modified internal rate of return (MIRR), how is it calculated, and what is the basic premise of its decision rule?
• How is the weighted average cost of capital (WACC) employed in capital budgeting decisions, and should it be used for all project regardless of the riskiness of a project?

Be sure to document your posts with in-text citations, credible sources, and properly listed references.