ABC Pharmaceutical's CFO has budgeted $18 million for capital expenditures during 2017 for R&D. It turns out the R&D department has a number of good, independent opportunities to invest in. The cost of capital is 12%.

Table (figures in millions).

Project	Investment	NPV	NPV/Investment
Q	10.5	5.5	0.52
R	2.0	0.5	0.25
S	6.0	2.5	0.42
T	7.5	2.0	0.27
U	1.5	1.0	0.67
V	3.0	1.0	0.33

Assume the $18 million budget can not be increased. Which projects should be undertaken? Select all that apply.

Q

R

S

T

U

V

Show the work, please.