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A project with conventional cash flows has a profitability index equal to 0.9 if r is 12%. As a result of the PI you also
A project with conventional cash flows has a profitability index equal to 0.9 if r is 12%. As a result of the PI you also can be certain that the projects
I. IRR < 12% II. NPV < 0 at r = 12% III. AAR > 100%
a. II and III only b. I and II only c. II only d. I only e. I, II and III
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