Bill Clinton reportedly was paid $9.7 million to write his book My Lile. The book took three years to write. In the time he spent writing. Clinton could have been paid to make speeches. Given his popularity, assume that he could earn $7.7 milion a year (paid at the end of the year) speaking inslead of writing. Assume his cost of capital is 10.3% per year. Assume also that once the book is finished, it is expected lo penerale rayalles af $4.64 million in the first year (paid at the end of the year) and these royalties are expected to decrease al 30% per year in perpetuily. The NPV of the book with the royally payments is - $788,000. How many IRRs are there in this problem? Does the IRR rule work in this case? NPV (S milioni How many IRRs are there in this problem? (Select the best choice below.) O A One IRR OB. TWO IRRS OC. Three IRRS OD. Four IRRS Does the IRR rule give the right answer in this case? (Sclect the best choice te cw.) O A No, because the IRR is negative. OB. Yes, because the higher IRR (41.7%) is greater than the cost of capital. OC. Yas, because the NPV is positive OD. No, because there are a RRs the IRR rule cannot be used