An investor has a budget of $70 million. He can invest in the projects shown above. If the cost of capital is 7%, what investment or investments should he make? Initial Investment Project A $49 million Project B $42 million Project C $35 million Project D $28 million Cash flow $28 million per year for three years $21 million per year for three years $14 million per year for six years $10.5 million per year for eight years