There are four principal decision models for evaluating and selecting investment projects: Net present value (NPV) Profitability index (PI) Internal rate of return (IRR) Payback period (PB) Which method recognizes the real option aspects of a proposed capital investment? NPV and PI None of the methods (NPV, IRR, PIf PB, or discounted PB) recognizes the real option aspects of a capital investment NPV, IRR, PI, and discounted PB IRR Read the following statements and categorize whether they characterize the IRR, NPV, PB, or PI decision criteria