Which of the following statements is correct?

Select one:

a.Of the four investment decision rules we have discussed in the course, the NPV is by far the worst one.

b.The IRR cannot be used to distinguish which of two investments is better when you can only choose one.

c.When the internal rate of return is smaller than the discount rate used to value cash flows of the investment you should go ahead and make the investment.

d.There cannot be more than one IRR for any given investment project.