Which of the following is not true?

Select one:

a. If the risk free rate is 2% and the market risk premium is 6%, then the expected return is 14% for a security with a beta of 2.

b. If a projects cash flows are uncertain then the present value discount rate should be higher than the risk free rate.

c. The beta of a capital budgeting project should be appropriate to its risk.

d. All of THESE are true