International Transport Company is considering building a new facility in Seattle. If the company goes ahead with the project, it will spend $2 million immediat (at t = 0) and another $2 million at the end of Year 1(t = 1). It will then receive net cash flows of $1 million at the end of Years 2-5, and it expects to sell the property for $2 million at the end of Year 6. The company's required rate of return is 12 percent, and it uses the modified IRR criterion for capital budgeting decisions. Which of the following statements is most correct? O a. The project should be rejected because the modified IRR is less than the regular IRR. O b. The project should be accepted because the modified IRR is greater than the required rate of return. O c. The regular IRR is less than the required rate of return. Under this condition, the modified IRR will also be less than the regular IRR. O d. If the regular IRR is less than the required rate of return, then the modified IRR will be greater than the regular IRR. e. Given th