Assume that a financial manager evaluates a project with normal cash flows (an initial negative cash flow followed by positive expected future cash flows) and estimates that the project's NPV is positive. Given this, one would expect that _______________.

A.

the IRR of the project will be less than zero

B.

the IRR of the project will be lower than the cost of capital

C.

the IRR of the project will be greater than zero

D.

the IIR of the project will be higher than the cost of capital