You are considering a project with the following data: IRR = 8.7 percent; PI = .98; NPV = -$393; Payback period = 2.44 years. Which one of the following statements is correct given this information?

a	The discount rate used in computing the net present value must have been less than 8.7 percent.
b	The discounted payback period will have to be less than 2.44 years.
c	The discount rate used to compute the profitability ratio was equal to the internal rate of return.
d	This project should be accepted based on the profitability ratio.
e	The required rate of return must be greater than 8.7 percent.