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When a projects Net Present Value exceeds zero, the project will also be acceptable using payback criteria. the IRR should be calculated to ensure that

When a projects Net Present Value exceeds zero,
the project will also be acceptable using payback criteria.
the IRR should be calculated to ensure that the project's projected rate of return exceeds the cost of capital.
the acceptance of the project would reflect an opportunity to create value for the firm or individual.
None of the statements above are correct.

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