32. Project A and Project B are mutually exclusive projects with equal risk. Both projects have an initial cash outflow followed by a series of cash inflows. Project A requires $1million in initial outlay, and has an internal rate of return of 13%, while Project B requires $ 800,000 in initial outlay, and has an internal rate of return of 15%. The two projects have the same net present value when the cost of capital is 7%. In other words, the crossover point is 7%. Which of the following statements is correct? I. II. If the cost of capital is 10%, both projects will have a positive net present value. If the cost of capital is 5%, Project B has a higher net present value than Project A. If the cost of capital is 10%, Project B has a higher net present value than Project A. III. A. I only B. II only C. III only D. I & II only E. I & III only