Which(one)of the following statements is FALSE?

O a. If there is a fixed supply of a resource available, you should rank projects by the profitability

index, selecting the project with the highest profitability index first and working your way

down the list until the resource is consumed.

O b. A net present value will always exist for an investment opportunity.

O c. The IRR investment rule states you should turn down any investment opportunity where the

IRR is less than the opportunity cost of capital.

O d. If the payback period for a project exceeds the company's threshold period, then the project

is accepted.