“I don’t do any capital budgeting for buying my machines. They typically last for more than 10 years. If I have to do capital budgeting, I need to estimate my future cash inflows and outflows for the...

“I don’t do any capital budgeting for buying my machines. They typically last for more than 10 years. If I have to do capital budgeting, I need to estimate my future cash inflows and outflows for the next 10 years, which is very difficult to do. I don’t have time for all that. I know that my company is making money now, and if I need to buy a new machine and replace an existing machine, I just do it.” How would you respond to this argument?