Which of the following statement is correct? All the answers are incorrect. The required rate of return on a capital budgeting project is often referred to as the payback period. The net present value is a discounted cash flow method and a number expressed as a percentage. Independent projects do not compete with each other and accepting one does not preclude accepting the other. That number of time periods it takes for the positive cash flows to equal the amount of the initial investment is the net present value