Which of the following statements is most correct?

	a.	If Project A has a higher IRR than Project B, then Project A must also have a higher NPV
	b.	The IRR calculation implicitly assumes that all cash flows are reinvested at a rate of return equal to the cost of capital
	c.	Statements a and b are correct
	d.	If a project's internal rate of return (IRR) exceeds the cost of capital, then the project's net present value (NPV) must be positive
	e.	None of the statements above is correct