Which of the following statements is incorrect regarding project appraisal techniques? At IRR, the NPV of a project is equal to 0 If the IRR of a project is 8%, its NPV calculated using a discount...

At IRR, the NPV of a project is equal to 0

If the IRR of a project is 8%, its NPV calculated using a discount rate greater than 8%, will be less than 0

If the NPV of a project is greater than 0, then its PI will exceed 1.

If the PI of a project equals 0, then the project's initial cash outflow equals the PV of its cash inflows