18 17 16 15 14 23. Vang Enterprises, which is debt-free and finances only with equity from retained earnings, is considering 7 equal-sized capital budgeting projects. Its CFO hired you to assist in deciding whether none, some, or all of the projects should be accepted. You have the following information: TRF-3.00%; RPM- 5.00% and b 0.86. The company adds or subtracts a specified percentage to the corporate WACC when it evaluates projects that have above or below average risk. Data on the 7 projects are shown below. If these are the only projects under consideration, how large should the capital budget be? Expected 19 Project Risk Risk factor return Cost (millions) 20 Very low -2.00% 7.59% $25 Low -1.00% 9.20% $25 Average 0.00% 10.25% $25 High 1.00% 10.65% $25 Very high 2.00% 11.00% $25 Very high 2.00% 11.10% $25 Very high 2.00% 12.90% $25 a. $125 million Db. $150 million C$50 million $175 million 100 million