The Internal Rate of Return

The internal rate of return:

A) ignores the time value of money.
B) equates a project's cash inflows with its cash outflows.
C) equates a project's cash outflows with its expenses.
D) equates the present value of a project's cash inflows with the present value of the cash outflows.
E) equates the present value of a project's cash flows with the future value of the project's cash flows.