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Discussion 1: What are the major criticisms of the payback and simple rate of return methods? In what situations are these financial tools useful? Choose a particular type of industry and explain why it would benefit from the use of simple rate of return for budgeting decisions. Keep the following points in mind: The drawbacks of the payback and simple rate of return methods in making capital budgeting decisions are accurately identified and explained. The efficacy of the payback and simple rate of return methods is explained with pertinent examples. Discussion 2: Cost of capital is the rate of return that the equity and debt holders demand against the funds they have supplied to the company. It is the minimum return that a company must earn on its existing asset base to satisfy creditors, owners, and other providers of finance. Consider the aspects of cost of capital and respond to the following: How does the cost of capital serve as a screening tool when using the net present value (NPV) method? How does the cost of capital serve as a screening tool when using the internal rate of return (IRR) method? Use proper APA format citations for any materials you reference. VERY IMPORTANT