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The NordKorina's project requires initial investments of $15M and its NPV is $1M. The project has all positive cash flows and appropriate discount rate is

The NordKorina's project requires initial investments of $15M and its NPV is $1M. The project has all positive cash flows and appropriate discount rate is 15%.

What is true?

I . The undiscounted payback period is shorter than the project's life.

II. The discounted payback period is shorter than the project's life.

I and II

I only

None of the above

II only

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