Which of the following statements is correct regarding the capital budgeting practice? I. If the project has cash flows that change directions more than once over time (i.e. outflow, inflow, outflow..), there may be more than one possible value for internal rate of return (IRR), profitability index and payback period. In this situation, we should rely on the net present value (NPV) rule. II. When NPV is negative, IRR is always smaller than the required rate of return the discount rate), III. Incremental cash flows will occur only if the project is accepted and should be included in a capital budgeting analysis. IV. An investigation of the degree to which NPV depends on assumptions made about several critical variables is called a scenario analysis. Select one: A. I and Ill only B. II and III only C. ill and IV only D. I, II and IV only E. None of the choice combinations given in A, B, C and D are correct