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Which two of the following five statements are correct? Select two alternatives: The IRR Investment Rule states to take any investment opportunity where the IRR exceeds the opportunity cost of capital

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Which two of the following five statements are correct?

Select two alternatives:

• The IRR Investment Rule states to take any investment opportunity where the IRR exceeds the opportunity cost of capital.
• The IRR is affected by errors in the estimate of your cost of capital.
• The IRR investment rule will identify the correct decision in many, but not all, situations.
• NPV is positive only for discount rates greater than the internal rate of return.
• The payback rule is simple to calculate and favors short-term investments. It will indicate those projects with highest NPV.