Which of the following is not one of the benefits of using NPV over IRR to judge a capital budgeting decision?

IRR assumes that cash flows generated from the capital budgeting decision can be reinvested at the same rate of return as the project itself, NPV does not.

NPV can be used to judge capital budgeting decisions with nonstandard cash flows, whereas IRR cannot.

Unlike for IRR, the results from an NPV analysis can be easily compared to other capital budgeting options, and the results are easy to convey.

Unlike IRR results, NPV results will always lead an analyst to choose the best of a series of mutually exclusive investment options.