If a project has a net present value equal to zero, then: 1. The present value of the cash inflows exceeds the initial cost of the project. 1. The project produces a rate of return that just equals the rate required to accept the project. III. The project is expected to produce only the minimally required cash inflows. IV. Any delay in receiving the projected cash inflows will cause the project to have a negative net present value. Il and I I and IV I, II and IV II. lt, and IV O III and III Question 22 1 pts The internal rate of return may be defined as: The discount rate that makes the NPV equal to zero. The difference between the market rate of interest and the NPV. The market rate of interest less the risk-free rate. The project acceptance rate set by management. None of the above