Projects C and D are mutually exclusive and have normal cash flows. Project C has a higher NPV if the WACC is less than 12%, whereas Project D has a higher NPV if the WACC exceeds 12%. Which of the following statements is CORRECT? The crossover rate between the two projects is below 12%. Project C probably has a faster payback. Project C has a higher IRR. Project D has a higher IRR. Project D is probably larger in scale than Project C.