When done correctly, what is the relationship between the present worth of an alternative calculated using a then-current approach and the present worth of the alternative calculated using a constant-worth approach?

a. They are equal.

b. Then-current \(\mathrm{PW}\) is higher because it uses inflated dollars.

c. Constant-worth PW is higher because it uses a lower discount rate.

d. Cannot be determined without knowing the cash flows and inflation rate