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Which of the following figures of merit might not use all possible cash flows in its calculations? I. Payback period Il. Internal rate of return

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Which of the following figures of merit might not use all possible cash flows in its calculations? I. Payback period Il. Internal rate of return Ill. Net present value (NPV) IV. Benefit-cost ratio O Ill only I & Ill only Il & Ill only O I only O Ill & IV only I, II, Ill, and IV

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