A project has the following cash flows:

Year 0	Year 1	Year 2	Year 3	Year 4
-100,000	20,000	30,000	40,000	X

You are given X > 0 and the project has an IRR = 8%.

Which of the following statements is correct:

A.

If the cost of capital is 6%, the NPV of the project is > 0.

B.

If the cost of capital is 10%, the NPV of the project is < 0.

C.

If the cost of capital is 8%, the NPV of the project is 0.

D.

All of the above are correct.