11. In calculating a Benefit-Cost (B-C) ratio, the analyst needs to classify certain cash flows as either added benefits or reduced costs. Which of the following statements best describes the impact on the outcome of the analysis if a particular cash flow is classified as an added benefit rather than a reduced cost? (a) The larger numerator will result in a B-C calculation that is too high. (b) The larger denominator will result in a B-C calculation that is too low. (c) There will be no impact on the acceptabilly of the B-C ratio. (d) The B-C ratio will always be equal to 1.0. 12. A lump sum of money is to be invested now at 8% interest, so that $800 can be withdrawn at the end of each year for 8 years. The minimum amount that must be invested is most nearly (a) $4,400 (b) $4,600 (c) $5,100 (d) $5,900