In terms of their overall usefulness in capital budgeting decisions, which of the following ranks decision rules from worst to best?

Multiple Choice

• IRR, NPV, Payback.

• Payback, NPV, IRR.

• Payback, IRR, NPV.

• NPV, IRR, Payback.

• IRR, Payback, NPV.

Please show all your work and show your steps. Clearly explain your answer and the steps you take. If writing, please write neatly, no cursive, and write in a linear fashion.