Which of the following statements is true? The expected rate of return on a project is equal to the discount rate that sets the project's Net Present Value (NPV) to $0.00. Companies calculate a project's Payback to estimate how much value will be created by the project. The Net Present Value (NPV) and Internal Rate of Return (IRR) will provide the same rankings when ranking more than one project. When choosing between mutually exclusive projects, the project with the highest Internal Rate of Return (IRR) will create the greatest value for shareholders