Final answer:
The IRR benchmark is the internal rate of return used to evaluate the profitability of an investment.
Step-by-step explanation:
The expected rate of return, also known as the expected value, is the average return an investor can anticipate from a project or investment over a specific period of time. It is usually expressed as a percentage. On the other hand, the required rate of return is the minimum return required by an investor to compensate for the level of risk associated with the investment.
The IRR benchmark, or the internal rate of return, is a financial metric used to evaluate the profitability of an investment. It represents the discount rate that makes the present value of future cash flows equal to the initial investment cost.
Out of the options provided, the IRR benchmark is the most relevant choice for an investment's evaluation and comparison.