Question 13 (1 point) Which one of the following statements is correct? 1) The net present value is a measure of profits expressed in today's dollars. If the internal rate of return equals the required return, the net present value will equal 2) zero. 3) Net present value is equal to an investment's cash inflows discounted to today's dollars. The net present value is positive when the required return exceeds the internal rate of 4) return. 5) If the initial cost of a project is increased, the net present value of that project will also increase. Question 14 (1 point) When choosing between two potential investment projects the financial manager should always choose the project with the higher internal rate of return. True False Question 15 (1 point) Which one of the following statements is correct? Question 15 (1 point) Which one of the following statements is correct? 1) When the internal rate of return is greater than the required return, the net present value is positive. 2) Projects with conventional cash flows have multiple internal rates of return. 3) The profitability index will be greater than 1.0 when the net present value is negative. If two projects are mutually exclusive, you should select the project with the shortest 4) payback period. 5) If the IRR exceeds the required return, the profitability index will be less than 1.0