Which statement about multiple IRRs is true?
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For a project to have more than one IRR, both IRRs must be less than the WACC.
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If two projects are mutually exclusive, then they are very likely to have multiple IRRs.
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If a project has two IRRs, then the smaller one is the one that is most relevant, and it should be accepted and relied upon.
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Multiple IRRs can occur only if the signs of the cash flows change more than once.