Ambrose Bierce said: Lottery: A tax on people who are bad at math.

Which of the following statements is NOT correct? Buying a lottery ticket:

Select one:

a. Is a negative NPV investment.

b. Has an internal rate of return less than the bank deposit interest rate which is the opportunity cost of capital.

c. Is a negative sum game amongst the lottery ticket buyers because the winnings are less than the sum of all sold ticket prices.

d. Is a bad financial decision.

e. Makes money in the long run.