Project A has an IRR of $15$ percent. Project B has an IRR of $18$ percent. Both projects

have the same risk. Which of the following statements is most correct?

a$.$ If the WACC is $10$ percent, both projects will have a positive NPV$,$ and the NPV of

Project B will exceed the NPV of Project A$.$

b$.$ If the WACC is $15$ percent, the NPV of Project B will exceed the NPV of Project A$.$

c$.$ If the WACC if less than $18$ percent, Project B will always have a shorter payback

than Project A$.$

d$.$ If the WACC is greater than $18$ percent, Project B will always have a shorter payback

than Project A$.$

e$.$ If the WACC increases, the IRR of both projects will decline