A Project Has an Initial Cash Inflow of $40,800 and a Cash

Multiple Choice

A project has an initial cash inflow of $40,800 and a cash outflow of $44,900 in Year 1.The discount rate is 10 percent.Should this project be accepted or rejected based on IRR? Why?

A) Accepted,because the IRR is less than the discount rate.
B) Rejected,because the IRR is less than the discount rate.
C) Accepted,because the IRR is greater than the discount rate.
D) Rejected,because the IRR is greater than the discount rate.
E) Accepted,because the IRR equals the discount rate.