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The Net Present Value (or NPV) criteria for capital budgeting decisions assumes that expected

future cash flows are reinvested at ________, and the Internal Rate of Return (or IRR) criteria assumes that expected future cash flows are reinvested at ________. A) the internal rate of return; the internal rate of return B) the internal rate of return; the firm's discount rate C) the firm's discount rate; the internal rate of return D) Neither criteria assumes reinvestment of future cash flows.

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