An investment opportunity has an expected 20% return on investment. The firm's cost of capital is 15%.

Which of the following is likely to happen if the firm uses return on investment as a perfromance measure of the investment center manager.

	a.	The manager may reject this otherwise profitable project if his or her current ROI is higher than 20%.
	b.	ROI ensures managers invest in all projects that are profitable to the firm.
	c.	The manager will not reject this project because the cost of capital is lower than the ROI.
	d.	The manager will reject this project because the cost of capital is lower than the ROI.