If an interest rate is compounded annually, the actual, effective and nominal rates MUST be identical. a) True b) False A project with a positive Present Worth must have an internal rate of return greater than the MARR. a) True b) False 12. A project has a 15% external rate of return. This means that all project cash inflows will be reinvested at the MARR (= 10%). a) True b) False 13. The incremental rate of return (IRR) is the rate of return for which the Net Present Worth of project A equals the Net Present Worth of project B. a) True b) False