Which of the following statements is most correct?

Group of answer choices

If a project with normal cash flows has an IRR, which exceeds the cost of capital (required rate of return), then the project must have a positive NPV.

If the IRR of Project A exceeds the IRR of Project B, then Project A must also have a higher NPV.

Assuming a project has normal cash flows, the NPV will be positive if the IRR is less than the cost of capital (discount rate).

None of these are correct.