A project has a level of systematic risk of_P = 1.25. The expected return on the market portfolio is E(r_M) = 12%, and the risk free rate is r_F= 2%. If an Investment's internal rate of return is 12%

a. The project should be accepted.

b. The project should be rejected because IRR is less than the required rate of return.

c. The project should be rejected because it is over-priced.

d. Both b and c

e. Not enough information is provided