Which of the following statements is FALSE?

a) The IRR can provide information on how sensitive your analysis is to errors in the estimate of your cost of capital.

b) The IRR investment rule states you should turn down any investment opportunity where the IRR is less than the opportunity cost of capital.

c) It is possible that an IRR does not exist for an investment opportunity.

d) The profitability index can be easily adapted for determining the correct investment decisions when multiple resource constraints exist.