If a project has conventional cash flows, it may also have more than one IRR. I. Net present value (NPV) is one of the two or three most important concepts in finance. II. NPV is the difference between the market value of an investment and its cost. III. The financial manager acts in the shareholders' best interests by identifying and taking positive NPV projects. IV. NPVs can normally be directly observed in the market. A. II and III only B. I, III, and IV only C. I and II only D. I, II, and III only E. I and IV only