Which of the following statements is CORRECT? Assume that the project being considered has normal cash flows, with one outflow followed by a series of inflows.

	a.	The higher the WACC used to calculate the NPV, the lower the calculated NPV will be.
	b.	If a project's NPV is greater than zero, then its IRR must be less than the WACC.
	c.	If a project's NPV is greater than zero, then its IRR must be less than zero.
	d.	The NPVs of relatively risky projects should be found using relatively low WACCs.
	e.	A project's NPV is generally found by compounding the cash inflows at the WACC to find the terminal value (TV), then discounting the TV at the IRR to find its PV.