1. Which of the following statements is INCORRECT regarding capital budgeting tools?
   1. If the NPV is positive, the Profitability Index must be greater than 1.
   2. If the IRR is greater than the required return, then the NPV will be positive.
   3. The discounted payback period will always be smaller than the payback period.
   4. The NPV is the best capital budgeting tool, as a general rule.