Question: Most companies use the Net Present Value (NPV) method for capital budgeting even though there is a great time and place for the Internal Rate

Most companies use the Net Present Value (NPV) method for capital budgeting even though there is a great time and place for the Internal Rate of Return (IRR) method. Personally, this professor likes to use both the NPV and payback method side by side in making decisions on similar type projects where we have two or three alternatives. Why would this professor (ME) use both of these methods and not just one

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