Which of the following statements is CORRECT?

Select the correct answer.

Multiple IRRs can only occur if the signs of the cash flows change more than once.

For a project to have more than one IRR, then both IRRs must be greater than the WACC.

If a project is independent, then it cannot have multiple IRRs.

If two projects are mutually exclusive, then they are likely to have multiple IRRs.

If a project has two IRRs, then the one that is closest to the vertical axis is the one that should be accepted.