Which one of the following statements is correct?

Select one:

as$.$ A project with a net present value of zero is earning exactly the required rate of return.

b$.$ A profitability index that is less than $1\mathrm{.}0$ indicates that a project is acceptable.

c$.$ A project with a payback exceeding the cutoff payback is acceptable.

d$.$ When the internal rate of return is less than the required rate, the project should be accepted.

e$.$ If the accounting rate of return exceeds the required discount rate, the project should be accepted.