TRUE OR FALSE

Internal Rate of Return (IRR) becomes completely unreliable for projects that have non-normal cash flow patterns. If we need to use a rate of return measure for a non-normal project we should use Modified Internal Rate of Return (MIRR), not IRR.

If you were evaluating two mutually exclusive projects for a firm with a zero cost of capital, the payback method and NPV method would always lead to the same decision on which project to undertake.