Which of the following statements is true about the internal rate of return?

a$.$

It is the interest rate that sets a project's net present value at zero.

b$.$

It is the minimal acceptable interest rate on an investment.

c$.$

It is the difference between the present value of the cash inflows and outflows associated with a project.

d$.$

It is the difference between the present value of a cash outflow and the depreciation associated with an asset.