Refer to the Table Below,which Shows the Results of Payback,net

Multiple Choice

Refer to the table below,which shows the results of payback,net present value,and internal rate of return analysis of four projects.Which is preferred by the internal rate of return criterion?
$$\begin{array} { | l | c | c | c | c | } \hline& \text { A } & \text { B } & \text { C } & \text { D } \\\hline \text { Payback } & 3 & 5 & 8 & 5 \\\hline \text { NPV } & \$ 67.95 & \$ 200.96 & \$ 256.78 & \$ 669.85 \\\hline \text { IRR } & 12.59 \% & 11.81 \% & 10.93 \% & 11.81 \% \\\hline\end{array}$$

A) Project A
B) Project B
C) Project C
D) Project D