a) discuss three potential flows with the regular payback method. Discuss whether or not the discounted payback method corrects all three flaws. b) explain why the NPV of a relatively long-term project (one for which a high percentage of its cash flows occurs in the distant future) is more sensitive to changes in the WACC than that of a short-term project. c) explain why IRR might be overly optimistic metric (give example of cash flows that might drive IRR artificially too high). What is the way to correct for inflationary IRR?