U POSLE JIL33 W UC. 2. Which of the following is not a legitimate criticism of the "payback period" method of capital budgeting a. Time value of money is not accounted for. b. Returns that occur after you are paid back are ignored. c. It uses profits for the process rather then cash flow. d. They are all valid criticisms of the regular "discounted payback period" method 3. The "Internal Rate of Return" on a project is: a. The rate we will earn if projections are met for the project b. The cost of capital" for the firm c. The rate that will give us a profitability index of greater than one d. The rate of return that will give us a positive Net Present Value