For a company with the objective of maximising net present value, what is the validity of the following statements for a conventional investment project?

(i)The accounting rate of return (ARR) method of project appraisal usually gives too little weight to cash flows which occur late in the project's life.

(ii)For a project with a (unique) IRR greater than the cost of capital, the IRR method of project appraisal usually gives too little weight to cash flows which occur late in the project's life.

a) (i) false; (ii) false

b) (i) false; (ii) true

c) (i) true; (ii) false

d) (i) true; (ii) true