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Which of the following statements about the internal rate of return (IRR) and net present value (NPV) is least accurate? A. For mutually exclusive projects, if the NPV rankings and the IRR rankings give conflicting signals, you should select the project with the higher IRR. B. The discount rate that causes the project's NPV to be equal to zero is the project's IRR. C. The IRR is the discount rate that equates the present value of the cash inflows with the present value of the outflows. |