14. An internal rate of return (IRR) is the discount rate that A) represents the minimal rate that an individual investor will accept. B) is the minimal rate that a buy-and-hold investor will accept. C) produces a future value equal to or greater than an investor's required rate of return. D) produces a present value of future benets equal to the market price of a stock 15. In the price! earnings approach to stock valuation, A) historical stock prices are utilized. B) forecasted EPS are typically used. C) the P/E ratio is computed by multiplying the stock price by the earnings per share. D) professional stock analysts recommend stocks based on their past performance. 16. The system of analysis which emphasizes studying the stock market itself and the forces at work in the marketplace is called A) Jndamental analysis. B) security analysis. C) industry analysis. D) technical analysis