7. (10) Extra credit true/false (T/F) questions worth 2 points each: a) When presented with several alternatives within your budget, always select the one with the highest benefit-cost ratio? b) If the incremental B/C ratio for project X of higher cost versus project Y of lower cost exceeds one, then select the higher cost project X? c) To compare projects having unequal lifetimes using the incremental B/C ratio method, you must repeat each project for as many times as required for all projects to have the same analysis period. d) In replacement analysis, the time to replace the defender with a challenger is when the defender's total marginal cost estimated for the next year exceeds the EUAC of the challenger assuming repeatability of the challenger after that. e) The effective annual inflation rate equals the effective average monthly inflation times 12