You are considering an investment with the following cash flows. If the required rate of return for this investment is 11%, should you accept it based solely on the internal rate of return rule? Why or why not?

Year Cash Flow 0 -$90,000 1 $38,000 2 -$ 7,500 3 $62,000 4 $32,000 5 -$11,000 

a. the IRR rule cannot be applied because the IRR is negative

b. you cannot apply the IRR rule in this case because there are multiple IRRs

c. no; because the IRR is less than the required return

d. no; because the IRR is negative

e. yes; because the IRR is greater than the required return