Which of the following statement is true?

Question 19 options:

a)Cost of financing is included in estimating incremental cash flows from a project

b)With different lives, instead of electing the project with higher NPV or lower net present value of costs, we should choose the project with lower equivalent annual revenue but higher equivalent annual cost

c)According to "Watch Out" rule, we should forget about the net working capital.

d)none of the above.