Project X has an internal rate of return (IRR) of 14%. Project Y has an IRR of 17%. Both projects have simple cash flows (all positive after the initial one). Which of the following statements is most likely correct If the required rate of return is:()
A. 14%, the net present value (NPV) of Project Y will exceed the NPV of project X.
B. less than 17%, Project Y will always have a shorter payback than Project X.
C. greater than 17%, Project Y will always have a shorter payback than Project X.