$12.$ If the net present value of a capital budgeting project is positive, it would indicate that the:

a$.$ Present value of cash outflows exceeds the present value of cash inflows

b$.$ Internal rate of return is equal to the discount percentage rate used in the net present value computation

c$.$ Present value index would be less than $100$

d$.$ Rate of return for this project is greater than the discount percentage rate used in the net present value computation.