When analyzing a project, the modified internal rate of return should be used instead of the internal rate of return when

• A.

  the project is very risky.

• B.

  the internal rate of return is higher than the discount rate.

• C.

  the internal rate of return is lower than the discount rate.

• D.

  the project has more than one internal rate of return.

• E.

  the net present value is less than zero.