Assume a project has normal cash flows. All else equal, which of the following statements is CORRECT? Select one: a. A project's NPV increases as the cost of capital declines. b. A project's IRR increases as the cost of capital declines. c. A project's discounted payback increases as the cost of capital declines. d. A project's regular payback increases as the cost of capital declines. e. A project's MIRR is unaffected by changes in the cost of capital. The advantage of the payback period (PBP) method in capital budgeting process include: it does not take into account the time value of money (no discounting), and ignores the cash flows occurring after the payback period. Select one: True False In capital budgeting, the shorter the payback period (PBP) the better. However, compare the calculated PBP to a maximum number of years that is determined by the management taking into account the industry norms. To accept the project, your calculated PBP should exceed substantially that maximum number of years. Select one: True False