1. If the net present value (NPV) of a standard capital budgeting is negative:

   	a.	The project's IRR may be less than, greater than, or equal to the WACC.
   	b.	The project's IRR is equal to the WACC.
   	c.	The project's IRR is less than the WACC.
   	d.	The project's IRR is greater than the WACC.

The difference between a required rate of return and the cost of that capital source is:

1. 	a.	The required rate of return includes more information than the cost of the capital source..
   	b.	There is no difference.
   	c.	The cost of the capital source does not include the required rate of return in its calculation.
   	d.	The cost of the capital source includes more information than the required rate of return.