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A project may have multiple IRRs when 1. the project generates an alternating series of net cash inflows and outflows 2. the project generates an

A project may have multiple IRRs when 1. the project generates an alternating series of net cash inflows and outflows 2. the project generates an immediate cash inflow followed by a cash outflow 3. the project has a negative NPV 4. the project is of considerably large scale I think it is 1. Am I correct, if not, why?

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