Match each statement with the appropriate capital budgeting method: payback period (PBP), accounting rate of return (ARR), net present value (NPV) or internal rate of return (IRR). Each may be used more than once, or not at all.

______a) The difference between the present value of the investments net cash inflows and the initial investment

______b) Focuses on time, not profitability

______c) Measures profitability, but ignores the time value of money

______d) Finds the discount rate that brings the investments net present value to zero

______e) Quick method that highlights risky investments