There is a project that has a conventional cash flows and it has a profitability index that is 0.9 if r is 12%. Because of the PI you can be certain that the project's

1. IRR < 12%

2. NPV < 0 at r = 12%

3. AAR > 100%

a. 1

b. 2

c. 3

d 1, 2, 3

e. 1, 2

f. 2, 3