3. The capital budgeting process Capital budgeting involves evaluating the value of long-term assets or projects. Which of the following should be included in the capital budgeting process? Check all that apply. Compute depreciation using different methods to include in the analysis. Compare the present value of the cash flows to the initial investment or cost required to acquire the asset. Compute the present value of the expected cash flows. Consider expansion projects over replacement projects. Evaluate the riskiness of the projected cash flows