Question: Should the company accept a project that has an IRR of 14% and an NPV of $2.8m if the cost of capital is 12%

A. Yes, based only on the NPV B. Yes, based on the NPV and the IRR

C. No, based on both the NPV and the IRR

I selected A because I think if NPV>0, then apparrently, IRR will be larger than cost of capital. But the answer by Kaplan is B. I do not understand the rational behind. Could somebody kind enough to explain?