Tex Co have correctly calculated the following measures for a new project they wish to implement; Payback 6 years 4 months The Internal Rate of Return IRR is 18% The cost of capital is 15% Which of the following statements is true? The project is acceptable because the IRR is lower than the cost of capital OUS ACTIVITY Choose The project is not acceptable because the IRR is lower than the cost of capital The project is not acceptable because the payback is less than five years The project is acceptable because the IRR is greater than the cost of capital The project is acceptable because the IRR lower than the cost of capital The project is acceptable because the IRR