Projects S and L Both Have Normal Cash Flows, and the Projects

Projects S and L both have normal cash flows, and the projects have the same risk, hence both are evaluated with the same WACC, 10%. However, S has a higher IRR than L. Which of the following statements is CORRECT?

A) Project S must have a higher NPV than Project L.
B) If Project S has a positive NPV, Project L must also have a positive NPV.
C) If the WACC falls, each project’s IRR will increase.
D) If the WACC increases, each project’s IRR will decrease.
E) If Projects S and L have the same NPV at the current WACC, 10%, then Project L, the one with the lower IRR, would have a higher NPV if the WACC used to evaluate the projects declined.