Assume that Consolidated Widgets, Inc., has annual sales of $5.9 million, cost of goods sold of $3.9 million, average inventories of $2.2 million, and average accounts receivable of $1.1 million. If all of Consolidated Widgets' sales are on credit, what would be the firm's operating cycle? A. 311.42 days B. 261.83 days C. 292.14 days D. 273.95 days 4. Which one of the following is not a capital-budgeting technique? A. Net present value (NPV) B. Modified payback (MPB) C. Modified internal rate of return (MIRR) D. Payback (PB) 5. A common criticism of the payback (PB) benchmark is that it doesn't A. receive complementing information from discount payback (DPB). B. consider a project's IRR. C. account for the time value of money (TVM). D. take into account NPV.