Which of the following statements is correct? The IRR of a project whose cash flows accrue relatively rapidly is more sensitive to changes in the discount rate than is the IRR of a project whose cash flows come in more slowly. There are many conditions under which a project can have more than one IRR. One such condition is where an otherwise normal project has a negative cash flow at the end of its life. The phenomenon called "multiple internal rates of return" arises when two or more mutually exclusive projects which have different lives are being compared. The modified IRR (MIRR) has wide appeal to professors, but most business executives prefer the NPV method to either the regular or modified IRR. Each of the above statements is false