GreshakCorp's managementis analyzingtwo equally risky, mutually exclusive projects(assume bothhave normal cash flows). Project X has an IRR of 11%, while Project Y's IRR is 14%. When the WACC is 8%, the projects have the same NPV. Given this information, which of the following statements is CORRECT?

Select one:

a. If the WACC is 9%, Project X's NPV will be higher than Project Y's.b. If the WACC is 6%, Project Y's NPV will be higher than Project X's.c. If the WACC is greater than 14%, Project X's IRR will exceed Project Y's.d. If the WACC is 9%, Project Y's NPV will be higher than Project X's.e. If the WACC is 13%, Project X's NPV will be higher than Project Y's