Which of the following is true?

Select one:

a. The IRR will always provide a single rate of return that can be used to evaluate proposed investments.

b. The IRR and the NPV will always agree about which proposed investment is best.

c. The IRR is not useful when future cashflows are a mix of positive and negative amounts.

d. When two mutually exclusive investments have different IRRs, the one with the highest IRR is always best.

e. None of the above.