When Evaluating Projects Using NPV Approach, ________

Multiple Choice

When evaluating projects using NPV approach, ________.

A) projects having lower early-year cash flows tend to be preferred at higher discount rates
B) projects having higher early-year cash flows tend to be preferred at higher discount rates
C) projects having higher early-year cash flows tend to be preferred at lower discount rates
D) the discount rate and magnitude of cash flows do not affect the ranking by NPV approach