NPV(Net Present Value) with discount rate is 6% for this period and cashflow as followed.

1. Period 0, Cashflow ($150,000)
2. Period 1, Cashflow $70,000
3. Period 2, Cashflow $80,000

Net present value is 71,198.

Payback period is 2 years.

Please elaborate in detail the obvious problem with using the payback method (Profit Index, NPV, IRR & Time Value Of Money).