(3 points) The IRR is defined as: Select one: a. the discount rate used in the NPV method O b. the difference between the cost of capital and the present value of the cash flows C. the discount rate that makes a project's NPV equal to zero. d. the discount rate used in the discounted payback period method Give your reasons (3 points) The cost of a new machine is $250,000. The machine has a five-year life and no salvage value. If the cash flow each year is equal to 25% of the cost of the machine, calculate the (simple) payback period for the project: Select one: a. 2.5 years b. 2 years C. 3 years d. 4 years Give your reasons