To build 16-bit makeboot:
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change directory to the makeboot directory
in a 16-bit razzle environment type: build

the directory structure is the same as winnt, so the exe shows up in usa\obj\i386\makeboot.exe

To build 32-bit makebt32:
-------------------------
change directory to the makebt32 directory
in a 32-bit razzle environment type: build

the exe shows up in obj\i386\makebt32.exe