5.2 D'Arcy (Builders) Ltd is considering three possible investment projects: A, B and C. The expected pattern of cash flows for each project is: Project cash flows A B m m m Initial outlay (17) (20) (24) 1 year's time 11 12 9 2 years' time 5 7 9 3 years' time 7 7 11 4 years' time 6 6 13 The business has a cost of capital of 10 per cent and the investment budget for next year is 25 million. Required: Which investment project(s) should the business undertake assuming each project is: (a) divisible (b) indivisible