Which of the following statements is false?

a. To compute the NPV for a project, you need to estimate the incremental cash flows and choose a discount rate.

b.Estimates of the cash flows and cost of capital are often subject to significant uncertainty.

c.When we are certain regarding the input to a capital budgeting decision, it is often useful to determine the break-even level of that input.

d.Sensitivity analysis allows us to explore the effects of errors in our estimated inputs in our NPV analysis for the project.