Answer this question based on the following three statements: 1. IRR may lead to sub-optimal choices when choosing between mutually exclusive projects because a project with a high IRR may have a low NPV. 2. Cash flows with different risk profiles would likely have different discount rates. 3. Discounted cash flow (DCF) valuation involves estimating future cash flows and comparing their present values with investment outlays required today. O a. All statements are NOT correct. O b. 1 and 3 are correct. O c. 1 and 2 are correct. O d. 2 and 3 are correct. O e. All statements are correct