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According to the book one of the shortcomings of the payback rule is the fact that it does not take into account the time value

According to the book one of the shortcomings of the payback rule is the fact that it does not take into account the time value of money. So with that being said why can't we use an analysis that accounts for the time value of money, and then enter the values into the payback calculation?In other words if we invest money today why can't we convert the value of money today into the future value of money? This would be a two step process instead of one step.

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