A break-even chart shows the total cost and total revenue expected at various sales volume levels of a product

Jim Planter, who reached age 65 on January 1, 2016, filed a joint return for 2016 with his wife, Rita, who is 50 years old and legally blind. Mary, their 21-year-old daughter, was a full-time student at a college until her graduation on June 2, 2016. The daughter had $6,650 of income and provided 25% of her own support during 2016. In addition, during 2016, the Planters were the sole support for Rita's niece, who had no income. How many exemptions should the Planters claim on their 2016 tax return?

a. 5 b. 2 c. 4 d. 3

The IRR method assumes the cash flows are reinvested at the internal rate of return rather than the required rate of return

Indicate whether the statement is true or false