Which of the following statements is (or are) true? Select all correct responses.] A decision maker who is considering several mutually exclusive investment opportunities should use discounted payback to choose between them. For an investment, the IRR decision rule states that if the IRR exceeds the benchmark rate, accept the project IRR is generally well suited for evaluating a project with nonconventional cash flows. NPV should not be used to choose between mutually exclusive investment opportunities, because IRR is preferred in these cases. For a borrowing (or "delayed investment project), the internal rate of return (IRR) decision rule states that if the IRR exceeds the benchmark rate, accept the project. The payback is a useful decision criterion because it helps the financial manager understand how much value a project creates The payback investment rule might not use all possible cash flows in its calculation Practitioners generally prefer the payback decision criterion to the IRR because payback considers the time value of money while IRR does not The main weakness of the NPV decision criterion is that it ignores distant cash flows