You are using internal rate of return $($IRR$)$ to evaluate several alternative investments for your client, Jerry. If Jerry's required rate of return is $8\%,$ which of the following investments should he consider adding to his portfolio?

Investment $1($IRR $=12\%)$

Investment $2($IRR $=9\%)$

Investment $3($IRR $=5\%)$

A$)$

I only

B$)$

I and II

C$)$

II and III

D$)$

II only