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subscriptions, and campaigns. However, the payback method does not. d. Identifying an externality
can never lead to an increase in the calculated NPV. e. An externality is a situation where a project
would have an adverse effect on some other part of the firm's overall operations. Assuming that
interest rate parity holds in all markets, which of the following statements is most CORRECT. That
is, if there were 10,000 traded stocks in the world.