2. Managers of Play Now Inc. are determining the company's capital budget for the next year and are considering the following projects (4 points) Size S525,000 450,000 375,000 390,000 220,000 120,000 IRR 13% 11% 10% 9% BY? 7.25% Project Risk High High Average Average Low Low Play Now estimates that its WACC is 9.15% and this rate would be applicable to average-risk projects. All projects are independent. The company adjusts for risk by adding 2.25% to the WACC for high-risk projects and subtracting 2.25% from the WACC for low-risk projects a. Which of the above projects should Play Now accept? b. If there are no capital constraints, what will the size of Play Now's capital budget be