Company E has $1,200,000 to invest in eight projects. Determine which projects should be undertaken to stay within the budget and achieve the highest NPV. Calculate the IRR of the chosen portfolio.

Project	Investment ($000)	NPV ($000)	IRR (%)
1	400	90	16.5
2	250	55	13.5
3	300	70	14.5
4	100	20	11.0
5	150	30	12.0
6	350	80	15.5
7	250	50	13.0
8	100	15	10.0

Requirements:

1. Stay within the $1,200,000 budget.
2. Maximize NPV.
3. Calculate the combined IRR of selected projects.
4. Determine total investment amount.