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3. If you were to make a capital-budgeting decision based on project cash flows, would you prefer to use NPV, the IRR method, the payback
3. If you were to make a capital-budgeting decision based on project cash flows, would you prefer to use NPV, the IRR method, the payback rule, or the discounted payback rule? Why would you use the method that you have selected? What is the advantage of using multiple methods? In your answer define and describe each method, using formulas. (3 pts)
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