Hilton is thinking about building a new hotel in New York City. The IRR of the hotel would be 8%, and the NPV would be -3.2 million dollars. Hilton's cost of capital is 10%. Select the answer that explains what Hilton should do and why:

		Open the new hotel because the NPV is positive
		Open the new hotel because the IRR is greater than the cost of capital
		Do not open the new hotel because the NPV is negative
		Do not open the new hotel because the cost of capital is greater than the IRR
		None of the above