Please answer each of the following questions in detail. Make sure to provide examples for each of the questions below. Describe and explain the significance of each of the following: payback period,...

Please answer each of the following questions in detail. Make sure to provide examples for each of the questions below.

Describe and explain the significance of each of the following: payback period, internal rate of return (IRR), modified internal rate of return (MIRR), net present value (NPV), and profitability index (PI). Explain. Provide examples for better clarity.
Discuss the notions of conventional and nonconventional cash flows in capital budgeting. Which investment evaluation criteria would you use for unconventional cash flows and why? Provide a fictitious unconventional cash flow example and apply the payback period, NPV, IRR, MIRR, and PI methods to your example. Interpret the results.

Kindly answer all the questions and sub-questions.