Kohinoor Power Company Limited is undertaking two Projects X and Y which are mu- tually exclusive and have normal cash flows. Project X has an IRR of 15% and Y's IRR is 20%. The company's WACC is 12%, and at that rate Project X has the higher NPV. Which of the following statements is CORRECT? (a) Assuming the timing pattern of the two projects' cash flows is the same, Project Y probably has a higher cost (and larger scale). (b) The crossover rate for the two projects must be 12%. (C) Since Y has the higher IRR, then it must also have the higher NPV if the crossover rate is less than the WACC of 12%. (d) Assuming the two projects have the same scale, Project Y probably has a faster payback than Project X. (e) The crossover rate for the two projects must be less than 12%