Which of the following statements is CORRECT? One advantage of the NPV over the IRR is that NPV assumes that cash flows will be reinvested at the WACC whereas IRR assumes that cash flows are reinvested at the IRR, and the NPV's assumption is generally more likely to be appropriate. One advantage of the NPV over the IRR method is that NPV takes account of cash flows over a project's full life whereas IRR does not. One advantage of the IRR over the NPV is that NPV assumes that cash flows will be reinvested at the IRR where as the IRR assumes that cash flows are reinvested at the WACC. One advantage of the NPV over the MIRR method is that NPV discounts cash flows whereas the MIRR is based on undiscounted cash flows. One advantage of the NPV over the MIRR method is that NPV takes account of cash flows over a project's full life whereas MIRR does not