Which of the following statements is CORRECT?

If a project has normal cash flows, then it will have two IRRs. If a project has normal cash flows, then it can have only one IRR, whereas a project with nonnormal cash flows can have more than one IRR.

If a project has normal cash flows, then its MIRR must be the same as its IRR.

If a project has normal cash flows, then its IRR must be equal to its WACC.

The definition of normal cash flows is that the cash flow stream has one or more negative cash flows followed by a stream of positive cash flows and then one negative cash flow at the end of the project's life.