Which one of the following statements is correct?-A longer payback period is pre

Which one of the following statements is correct?-A longer payback period is preferred over a shorter paybackperiod.-The payback rule states that you should accept a project if thepayback period is less than one year.-The payback period ignores the time value of money.-The payback rule is biased in favor of long-term projects.-The payback period considers the timing and amount of all of aprojects cash flows.