Question $5$

$3$ pts

Which of the following statements are true?

The time value of money is incorporated into the payback period formula.

II$.$ The payback period measures the total profitability of an investment..

III. Depreciation should always be added back to net operating income to determine cash flows when calculating the payback period.

$1$

$$ II

III

All of the above

$$ None of the above