The internal rate of return (IRR): I. Is a rule states that a normal project with an IRR that is greater than the required rate on the project should be accepted. II. Is computed using only the cash inflows from a project. III. Is the rate that causes the net present value of a project to exactly equal zero. IV. Is always the best criteria to use to choose the best project.

a. I and IV only

b. II and III only

c. I, II, and III only

d. II, III, and IV only

e. None of the above