Based upon the learning activities in Topic $2,$ calculate the Internal Rate of Return $($IRR$),$ Net Present Value $($NPV$)$ and Profitability Index $($PI$)$ of earning an MBA at UMass Global assuming the initial cost of one$-$year MBA program is $$20,000($upfront$)$ that earns you a promotion that increases your annual salary $($take$-$home pay$)$ by $$10,000$ annually for $5$ years. Your cost of capital is $15\%.$

What are the pros and cons of the following capital budgeting techniques: Net Present Value $($NPV$),$ Modified Internal Rate of Return $($MIRR$)$ and Profitability Index $($PI$)?$

Describe capital budgeting risk and two of the methods used in capital budgeting to identify the uncertainties associated with any given capital project.