Evaluate the Following Project Using an IRR Criterion, Based on an Opportunity

Multiple Choice

Evaluate the following project using an IRR criterion, based on an opportunity cost of 10 percent: CF0 = -6,000, CF1 = +3,300, CF2 = +3,300.

A) accept, since IRR exceeds opportunity cost.
B) reject, since opportunity cost exceeds IRR.
C) accept, since opportunity cost exceeds IRR.
D) reject, since IRR exceeds opportunity cost.