Respondents were asked how frequently they used seven capital budgeting
methods: net present value, profitability index, internal rate of return, modified internal
rate of return, payback, discounted payback, and accounting rate of return. The
responses were on a five point Likert scale with the following percentages attached to
each alternative in an attempt to quantify the responses: “always” (100%), “often”
(approximately 75%), “sometimes” (approximately 50%), “rarely” (approximately 25%),
and “never” (0%).