What is the main disadvantage of discounted payback? Is the payback method of any real usefulness in

Question:

What is the main disadvantage of discounted payback? Is the payback method of any real usefulness in decisions?

Capital Budgeting
Capital budgeting is a practice or method of analyzing investment decisions in capital expenditure, which is incurred at a point of time but benefits are yielded in future usually after one year or more, and incurred to obtain or improve the...