Which of the following statements is CORRECT? One advantage of the NPV over the IRR is that NPV considers all cash flows over a project's full life whereas IRR does not. Assume a project has normal cash flows. All else equal, a project's IRR increases as the WACC declines. Assume a project has normal cash flows. All else equal, a project's MIRR is unaffected by changes in the WACC. One advantage of the NPV over the IRR is that NPV assumes that cash flows will be reinvested at the WACC, whereas the IRR assumes that cash flows are reinvested at the IRR. The NPV assumption generally more appropriate.