Assume a Project Has Normal Cash Flows (I

Multiple Choice

Assume a project has normal cash flows (i.e. ,the initial cash flow is negative,and all other cash flows are positive) .Which of the following statements is most correct?

A) All else equal,a project's IRR increases as the required rate of return declines.
B) All else equal,a project's NPV increases as the required rate of return declines.
C) All else equal,a project's IRR is unaffected by changes in the required rate of return.
D) Answers a and b are both correct.
E) Answers b and c are both correct.