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Which statement is correct? IRR will give you correct decision if it is applied to mutually exclusive projects. If NPV and IRR give you contradictory

Which statement is correct?

IRR will give you correct decision if it is applied to mutually exclusive projects.

If NPV and IRR give you contradictory decisions, you should follow NPV.

IRR rule is the best rule to apply when making capital budgeting decisions.

NPV will give you incorrect decision if it is applied to mutually exclusive projects

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