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(1) What is the Net Present Value rule? Should personal preferences for cash today versus cash tomorrow play a role in the net present value

(1) What is the Net Present Value rule? Should personal preferences for cash today versus cash tomorrow play a role in the net present value (NPV) decision-making process?

(2) What is the decision criterion using the Net Present Value rule? What is the decision criteria using internal rate of return (IRR) rule?

(3) How do you apply the Net Present Value rule when multiple projects are available and you have the added constraint of accepting only one project?

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