b) Hawk plc has the following projects in which it can invest:- Projecte NPV at t=0, m- Be ce De Ee Cash outflow at t=0, me 102 132 3.8 5.04 4.82 Present value at t=0 of cash inflows, m- 194 382 7.32 9.92 7.12 94 252 3.5 4.9 2.3 Hawk has no other investment opportunities. Projects C and D are mutually exclusive. The capital investment budget at t=0 is limited to 25 million. Hawk plc is committed to maximising the wealth of its shareholders. How should Hawk utilise its capital investment budget if- (i) all projects are divisible (can be scaled down)? (ii) all projects are indivisible