30 The Net Present Value (NPV) of an investment project is positive at a cost of capital of 10%. The project has an initial cash outflow followed by a series of future cash flows lasting five years. The cumulative cash flow is positive by the end of year three. Which two of the following statements are true regarding this project A The payback period is between four and five years B. The Internal Rate of Return (IRR) is less than 10% C. The payback period is between three and four years D. The Internal Rate of Return (IRR) is greater than 10% E The payback period is less than three years