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A firm must choose from six capital budgeting proposals outlined below. The firm is subject to capital rationing and has a capital budget of $

A firm must choose from six capital budgeting proposals outlined below. The firm is subject to capital rationing and has a capital budget of $1,000,000; the firm's cost of capital is 15 percent. Using the net present value approach to ranking projects, which projects should the firm accept?
\table[[Project,Initial Investment,IRR,NPV],[1,$200,000,19%,$100,000
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