24. Smythe Company is considering the following 5 capital budgeting projects. The cost of capital for all projects is 14%.

Project	Initial Cost	NPV	IRR	PI
A	$1,000,000	($650,000)	10%	0.96
B	$400,000	$113,000	18%	1.33
C	$10,000	$2,500	21%	1.52
D	$2,500,000	$20	15%	1.01
E	$8,350,000	$515,000	17%	1.44

If the projects are INDEPENDENT, which project(s) should Smythe accept? (Note: it is possible that more than one project should be accepted.).

a. Project A

b. Project B

c. Project C

d.Project D

e.Project E

Please be correct! Showing how you got your answer will help the most!