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Britney is evaluating capital investments for three firms. The first firm has an unlimited capital budget and is looking at four independent projects. The second

Britney is evaluating capital investments for three firms. The first firm has an unlimited capital budget and is looking at four independent projects. The second firm has several perfectly divisible potential projects, but faces capital rationing. The third firm is trying to decide between mutually exclusive projects. The best capital budgeting techniques for these situations would be __________, __________, and __________, respectively.

A.

PI; PI; NPV

B.

NPV; NPV; IRR

C.

NPV; PI; NPV

D.

NPV; IRR; NPV

E.

IRR; NPV; PI

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