If the initial investment of a project is R132 000, the firm's required rate of return for the project is 12% and the present value of the project's future cash fiows is expected to total R150 000. The IRR and Pl of the project must be: a. less than 12% and greater than 1 respectively b. greater than 12% and less than 1 respectively c. greater than 12% and 1 respectively d. equal to 1296 and 1 respectively e. less than 12% and 1 respectively