Real-world financial decision makers often use the internal rate of return (IRR) over the net present value (NPV) as their primary capital-budgeting decision tool because:

A.	the IRR calculation is independent of the estimated hurdle rate whereas the NPV calculation is dependent upon the estimated hurdle rate.

B.	the IRR calculation is dependent on the estimated hurdle rate whereas the NPV calculation is independent of the estimated hurdle rate.

C.	the NPV calculation is subject to the borrowing/lending problem.

D.	the IRR calculation is subject to the borrowing/lending problem.

E.	the IRR calculation provides an exact estimate of the wealth created or destroyed.