18. If the discount rate that is used to evaluate a project is equal to the project's internal rate of return, the project's is equal to zero. profitability index internal rate of return present value of the investment d. net present value a. b. c. 19. Which of the following statements is TRUE regarding the concept of the time value of money? a. A dollar paid today is worth the same as a dollar paid in the future. A dollar received today is worth the same as a dollar received in the future. A dollar received today is worth more than a dollar received in the future. d. A dollar received today is worth less than a dollar received in the future. b. C. a. 20. When using the NPV method for a particular investment decision, if the present value of all cash inflows is greater than the present value of all cash outflows, then: the hurdle rate used was too high. b. the investment provides an actual rate of return greater than the hurdle rate. the investment provides an actual rate of return equal to the hurdle rate. the hurdle rate was too low. C. d. 21. a. If a project has an internal rate of return of 12% and a negative net present value, which of the following statements is TRUE? The profitability index is greater than 1. b. The profitability index is less than 1. The profitability index is equal to 1. d. None of the above. C