Which of the following statements is CORRECT? A project's IRR is the discount rate that causes the PV of the inflows to equal the project's cost. To find a project's IRR, we must find a discount rate that is equal to the WACC. A project's regular IRR is found by compounding the initial cost at the WACC to find the terminal value (TV), then discounting the TV at the WACC. Conflicts between two mutually exclusive projects occasionally occur, where the NPV method ranks one project higher but the IRR method puts the other one first. In theory, such conflicts should be resolved in favor of the project with the higher IRR. If a project's IRR is greater than the WACC, then its NPV must be negative. Assume a project has normal cash flows. All else equal, which of the following statements is CORRECT? A project's MIRR is unaffected by changes in the WACC. A project's discounted payback increases as the WACC declines. A project's regular payback increases as the WACC declines. A project's IRR increases as the WACC declines. A project's NPV increases as the WACC declines