Project X's IRR is 19% and Project Y's IRR is 17%. The projects have the same risk and the same lives, and each has constant cash flows during each year of their lives. If the WACC is 10%, Project Y has a higher NPV than X. Given this information, which of the following statements is CORRECT?

a. If the WACC is 18%, Project Y will have the higher NPV.

b. The crossover rate must be greater than 10%.

c. If the WACC is 8%, Project X will have the higher NPV.

d. Project X is larger in the sense that it has the higher initial cost.

e. The crossover rate must be less than 10%