Which of the following is TRUE? - 11401

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Which of the following is TRUE? 

a.The payback period is the most superior of all the capital budgeting tools.  

b.The only projected net income and not the projected net cash flow should be used in capital budgeting analyses.

c.Discounted payback does not take into account the time value of money in its calculations

d. If the calculated Net Present Value (NPV) equals $1, then the Internal Rate of Return (IRR) will equal the discount rate used in the NPV calculation