When using the net present value and the internal rate of return to evaluate capital projects:

• A. The IRR is preferred because it more closely reflects the firm's goal of maximization of shareholder wealth.
• B. Both will lead to the same decision if projects are mutually exclusive.
• C. The two techniques may give different answers if the initial costs of the projects differ.
• D. Both assume that the firm can reinvest earnings at the same rate.