Here in its ninth edition, this classic text returns to its roots as a clear and concise introduction to investment decision-making. In this edition, Bierman and Smidt have expanded the theme of adjusting for uncertainty and added a new chapter exploring the use of real options. Retaining the authority and reputation of previous editions, it now covers in depth several under-explored topics, including: distribution policy and capital budgeting; a firm investing in a second firm; investing in current assets. Easily understandable, and covering the essentials of capital budgeting, this book will help readers to make intelligent capital budgeting decisions for corporations of every type. Book jacket.