Which of the following statements is true? Answer If the NPV = 0 then the IRR must be greater than the cost of capital for a single independent normal project. If the NPV < 0 then the payback period must be greater than the cutoff point. If the PI < 1 then the present value of the cash inflows is greater than the present value of the cash outflows. The payback period method takes into account the time value of money. None of the statements are true