He did not count the cost of his purchases, because they were in the nature of a capital expenditure.
To this must be added the consumption of iron and its replacement, which would have to be written off capital expenditure.
The interest earned on the capital expenditure in the six years ending averaged 11½ p.c.
The capital expenditure of the cinematographer need certainly not be great.
Here the capital expenditure would be so great that the cost would be absolutely prohibitive.
