Which of the following is a pitfall of the IRR? i. Graham and Harvey (2001) show that the IRR is one of the most heavily used evaluation techniques by CFOs in large US corporations. ii. The IRR works well when investments take place before profits. iii. It can be that there is no IRR.

Select one:

a.

Only i

b.

Only ii

c.

Only iii

d.

None of the listed statements is a pitfall