An anticipated purchase of equipment for exist400,000, with a useful life of 8 yews and no residual value, is expected to yield the following annual net incomes and net cash flows: What is the cash payback period? a. 4.11 years b. 4.25 years c. 3.9 years d. 5 years Expenditures associated with items already purchased, that are irrelevant to future decisions are called? a. differential costs b. opportunity costs c. sunk costs d. none of the choices are correct Which of the following methods used for capital budgeting and investment analysis does not use the time value of money? a. Net present value (NPV) b. Internal rate of return (IPP) c. Cash payback period d. All of the above use the time value of money