Which of the following statements is/are true? 1. The internal rate of return is the interest rate that makes the NPV =0 II. The payback period rule uses the appropriate cost of capital to discount cash flows. Ionly Neither I nor II II only Both I and II Which of the following is NOT a limitation of the internal rate of return (IRR) decision rule? It is not an effective method for making decisions when more than one project can be done simultaneously. The IRR is undefined for projects whose cash flows are perpetuities. It doesn't properly reflect differences in scale between projects. A project may have multiple IRRs