The controller at Ranyah Corporation analyzed a proposed equipment  purchase

The controller at Ranyah Corporation analyzed a proposed equipment  purchase for the firm and decided that the investment met all the firm’s  criteria regarding payback, net present value, and internal rate of  return. Notwithstanding the positive results, top management decided to  reject purchase of the machine. Elaborate on why a firm might reject a  project even though it satisfies all the capital budgeting analyses.

Embed course material concepts, principles, and theories (requires  supporting citations) along with at least one scholarly, peer-reviewed  reference in supporting your answer. Keep in mind that these scholarly  references can be found in the Saudi Electronic Library by conducting an  advanced search specific to scholarly references.