26. Which of the following statements is CORRECT? a. For a project to have more than one IRR, then both IRRs must be greater than the WACC b. If two projects are mutually exclusive, then they are likely to have e. If a project is independent, then it cannot have multiple IRRs d. Multiple IRRs can only occur if the signs of the cash flows change more than multiple IRRS once e. If a project has two IRRs, then the smaller one is the one that is most relevant, and it should be accepted and relied upon. 27. Which of the following statements is CORRECT? Assume that the project being considered has normal cash flows, with one outflow followed by a series a. If Project A has a higher IRR than Project B, then Project A must have the lower of inflows. NPV b. Ir Projec has a higher IRR than Project B, then Project A must also have a higher NPV c. The IRR calculation implicitly assumes that all cash flows are reinvested at the WACC d. The IRR calculation implicitly assumes that cash flows are withdrawn from the business rather than being reinvested in the business. e. If a project has normal cash flows and its IRR exceeds its WACC, then the project's NPV must be positive. 28. Which of the following statements is CORRECT? a. The NPV method was once the favorite of academics and business executives, but today most authorities regard the MIRR as being the best indicator of a project's profitability b. If the cost of capital declines, this lowers a project's NPV. c. The NPV method is regarded by most academics as being the worst indicator of a project's profitability, hence most academics recommend that firms use any other method and disregard the NPV d. A project's NPV depends on the total amount of cash flows the project produces but because the cash flows are discounted at the WACC, it does not matter if the cash flows occur early or late in the project's life. e. The NPV and IRR methods may give different recommendations regarding whic of two mutually exclusive projects should be accepted, but they always give t same recommendation regarding the acceptability of a normal, independ project