Please describe the following Capital Budgeting Techniques including when they are most appropriately used and both the advantages and disadvantages: NPV, The Pay Back Rule, The Internal Rate of Return, The Profitablity Index, and the Modified Internal Rate of Return.

You can use the following Good Decisoion Criteria as a format to begin the discussion: Are all cash flows considered? Is Time Value of Money considered? Risk-Adjusted? Ability to rank projects? Indicates added value to the firm?