10. Which of the following statements is correct?

a. Assuming a project has normal cash flows, the NPV will be positive if the IRR is less than

the cost of capital.

b. If the multiple IRR problem does exist, any independent project acceptable by the NPV method

will also be acceptable by the IRR method.

c. If IRR > required return, then NPV is negative.

d. NPV can be negative if the IRR is positive.

e. All of the above are incorrect.