An Entity Is Contemplating Investing in a Long-Term Project

True/False

An entity is contemplating investing in a long-term project. A comparison of two mutually exclusive projects reveals that Project A involves an initial outlay of $6000 with cash inflows of $2600 for years 1-5, whereas Project B requires a cash outlay of $4500 with cash inflows of $1300 for years 1-5. Based on this information, the IRR for Project A is higher than the IRR for Project