Consider the four capital budgeting projects listed below. The appropriate cost of capital is 12%. If these projects are mutually independent, and the company is not practicing capital rationing, which one or ones of these four projects shall be accepted?

	Project A	Project B	Project C	Project D
IRR	15%	11.5%	18.5	7%

You can choose more than one answer.

A.

B.

C.

D.