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The following statement was overheard at a company board meeting: Cash flow projections more than a few years out are worthless. So, using the payback

The following statement was overheard at a company board meeting: Cash flow projections more than a few years out are worthless. So, using the payback period analysis, which ignores longer-term cash flows, is more reasonable than making wild guesses as one has to do when using the NPV method. (Your answer must begin with True or False followed by your explanation.)

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