#10

Consider two investment peojects, which both require an upfront investment of $12 milion, and both of which pay a constant positve arnount oach year for the next 12 years. Under what conditions can you rank these projects by comparing their IRRs? (Select the best choice below.) A. Ranking by IRR will work in this case so long as the projects have the same risk. B. There are no conditions under which you can use the IRR to rank projects. C. Rarking by tFR will work in this case wo long as the projects' cash flows do not decrease from year to year. D. Ranking by IRR will work in this case so long as the projects' cash flows do not increase from year to year