Which of the following is true?

When using the internal rate of return method, the project with the lowest initial investment will also provide the highest internal rate of return.

When ranking investments, the net present value method, the payback method and the simple rate of return method will always result in the same ranking of investments.

An advantage of the payback method is that it ignores the time value of money.

When comparing investments using the net present value method, the investment with the largest positive net present value is preferred.