• Assume a project has normal cash flows. All else equal, which of the following statements is CORRECT?
  
  a. A project's NPV increases as the WACC declines.
  b. A project's MIRR is unaffected by changes in the WACC.
  c. A project's discounted payback increases as the WACC declines
  d. A project's regular payback increases as the WACC declines.
  e. A project's IRR increases as the WACC declines.