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In budgeting for IT projects, which is the correct explanation of CapEx and OpEx?
①CapEx is monthly; OpEx is annual.
②CapEx is fixed costs, OpEx is variable costs.
③CapEx is hardware purchases, OpEx is software licenses.
④CapEx refers to initial costs; OpEx refers to operating costs.
⑤CapEx is cloud contracts, OpEx is server maintenance.