18. The payback period is calculated using accounting profits, and so should not be open to manipulation by managerial preferences for accounting policies. Is this statement ... (A) True (B) False 20. Consider a bond that pays annual interest of 10 per cent and which is redeemable in four years' time and let us suppose investors in this bond require an annual return of 12 per cent. Calculate the predicted market value. at par (A) $39.39 (B) $93.93 (C) $83.33 (D) $33.83