1) What are the cases in which the IRR and NPV might not give the same answer? In other words when is the IRR unreliable?

1. Mutually Exclusive Projects
2. When the NPV is equal to 0
3. Non-Normal Cash Flows
4. When the project involves aliens

Select one:

a. 1 and 3 only.

b. all of the above.

c. 1, 2, and 3.

d. 1 and 2 only.

e. 2 and 4 only.