Assume a project has normal cash flows. All else equal, which of the following statements is CORRECT?

Select one:

a. A project's MIRR is unaffected by changes in the cost of capital.

b. A project's NPV increases as the cost of capital declines.

c. A project's regular payback increases as the cost of capital declines.

d. A project's discounted payback increases as the cost of capital declines.

e. A project's IRR increases as the cost of capital declines.