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QUESTION 23

Assume a project has normal cash flows. All else equal, which of the following statements is INCORRECT?

1. A project's NPV increases as the WACC declines.
2. A project's MIRR depends on a firm's cost of capital and the reinvestment rate.
3. A project's regular payback does not depend on WACC.
4. A project's discounted payback decreases as the WACC increases.
5. A project's IRR calculation does not depend on WACC.