Which of the following statements about the payback method is true?

a.The payback method is alwaysconsistent with the goal of shareholder wealth maximization.

b.The payback method represents the number of years it takes a project to recover its initial investment plus a required rate of return.

c.The payback method ignores cash flows afterthe payback period (later cash flows).

d.ThepaybackmethodalwaysagreeswiththeNPVmethod.