● 17. Z Co. Ltd is evaluating the following indivisible projects. The company has a capital expenditure ceiling of `150 lakh. You are required to indicate which projects to be accepted, if project P and Q are mutually exclusive and any unspent amount will result in a negative NPV of 5% of the unspent amount.

Project Cash Outlay (` in lakh) NPV (` in lakh)

O P

Q R

S T

10 50 20 60 100 80 1.8 8.0 4.0 3.6 25.0 18.0