18. a. b. C. Which one of the following statements related to the internal rate of return (IRR) is correct? If the IRR exceeds the required return, the profitability index will be less than 1.0. IRR is a better evaluation tool than NPV when projects are mutually exclusive. A project has multiple IRRs if the project's cash flows are nonconventional. d. If two projects are mutually exclusive, select the project with the highest IRR. What is the net present value of a project with the following cash flows if the discount rate is 8 percent? 19. -80 1 45 2 55 YEAR 0 CF a. $8.82 b. $20.00 C. $9.87 d. $7.80 20. a. Which is NOT correct? Select projects with Profitability indices > 1. b. Select projects with NPV > 0. c. Select project with IRR