If the Net Present Value of an Investment Proposal Is

If the net present value of an investment proposal is positive, what conclusions can be drawn? (Identify all correct answers.)

A) The discount rate used is less than the investment's estimated return.
B) The investment's estimated return exceeds the minimum return required by the investor.
C) The discount rate used equals the minimum return required by the investor.
D) The investment generates cash flows with a present value in excess of its cost.