Which of the following statements is CORRECT?

		One defect of the IRR method is that it does not take account of cash flows over projects full life.
		One defect of the IRR method is that it does not take account of the time value of money.
		One defect of the IRR method is that it does consider the time value of money.
		One defect of the IRR method is that it assumes that the cash flows to be received from a project can be reinvested at the IRR itself, and that assumption is often not valid.