-Select- c. Should this project be undertaken? 1. Even when no mitigation is considered the project has a negative NPV, so it should not be undertaken. II. The project should be undertaken only if they do not mitigate for the environmental effects. However, they have to make sure that they've done the analysis properly to avoid any "ill will" and additional "costs" that might result from undertaking the project without concern for the environmental impacts. III. The project should be undertaken only under the "mitigation" assumption. -Select- IV. The project should be undertaken since the IRR is positive under both the "mitigation" and "no mitigation" assumptions. V. The project should be undertaken since the NPV is positive under both the "mitigation" and "no mitigation" assumptions.