A firm evaluates the following projects, when interest rates are 12% for every maturity:

Year A B C

0 -200 -150 -50

1 150 125 40

2 150 125 30

If the projects are mutually exclusive, which project(s) should the firm approve?

a. Project A and Project C

b. Project B and Project C

c. Project C

d. Project A

e. Project B

f. Project A and Project B

g. Projects A, B and C