For each of the following question mark either T for True or F for False in the left margin. 1. The NPV decision model indicates a internal rate of return for decision purposes. 2. The IRR capital budgeting model develops a required rate of return. 3. The accrual accounting rate of return model for capital budgeting includes in its computation the initial investment and Net income on investment. 4. When two similar projects are compared, the one with the lower payback period would tend to have the higher IRR. 5. A 15% discount rate was used to compute the net present value of a project. If the NPV is positive, the internal rate of return is lower than 15%. 6. The time value of money is part of the internal rate of return model for capital budeting. 7. When the NPV of a project is negative, the IRR would be lower than the discount rate used to compute the NPV. 8. The net cash effect of $30,000 depreciation expense per year, assuming a 40% income tax rate, is an $18,000 cash inflow per year. 9. When income taxes are considered, the effects of depreciation expense have a negative present value. 10. The after tax effect of depreciation expense on net cash inflows for a year is the depreciation expense for the year multiplied by the applicable rate of income tax for the year