A firm is considering the following four independent projects:

Project Beta of project IRR

A 0.9 11%

B 2.0 19%

C 1.0 14%

D 0.4 10%

The risk-free rate is 5%, the expected market return is 15%. The firm's WACC is 13%. Which of the following statements is correct (true)?

Reject project A

Accept projects B and C only

Accept project D only

Accept project B only

Accept all projects