the bond will be valued at a discount below par value. D Question 22 1 pts All of the following are criticisms of the payback period EXCEPT: O it does not consider time value of money O it does not consider risk it ignores cash flow occurring after the payback period O it does not consider a required rate of return O it uses accounting profits instead of cash flows D Question 23 1 pts Suppose a firm pays out 15% of its earnings per share in common stock dividends. This is an example of: a constant dividend payout ratio o