Which of the following statement is false ? Assume a normal cash flow that is an initial cash outflow followed by a sequence of cash inflows.

A. If the NPV of a project is greater than zero, its discounted payback period is shorter than its investment life.

B- Pl is a better measure than NPV when a company is subject to budget constraints.

C- If the NPV of a project is equal to zero, it's IRR is equal to the discount rate.

D - If the NPV of a project is greater than zero, it's profitability index is greater than 1.

E - If the payback period of a project is shorter than it's investment life, it's NPV is greater than zero.