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. A project's MIRR is always greater than its regular IRR.

b. If a project's IRR is greater than its cost of capital, then the MIRR will be less than the IRR.

c. To find a project's MIRR, we compound cash inflows at the IRR and then discount the terminal value back to t = 0 at the cost of capital.

d. A project's MIRR is always less than its regular IRR.

e. If a project's IRR is greater than its cost of capital, then the MIRR will be greater than the IRR.