Which of the following statements is most correct?

A). All else equal, a project’s IRR decreases as the cost of capital declines.
B). All else equal, a project’s NPV is affected by changes in the cost of capital.
C). If a project has normal (conventional) cash flows, the project might have multiple IRRs.
D). All else equal, a project’s NPV is unaffected by changes in the cost of capital.