Eldon Windows Inc. has an $80,000 capital budget and has the opportunity to invest in five different projects. The initial investment and NPV of the projects is shown in the table. In which combination of projects should Eldon Windows invest?

Project Investment Outlay

NPV 1 -$45,000 $18,000

NPV 2 -$40,000 $16,000

NPV 3 -$20,000 $9,000

NPV 4 -$18,000 $8,000

NPV 5 -$15,000 $4,000

(a)Projects 1, 3, and 4.

(b)Projects 1, 3, and 5.

(c)Projects 2, 3, and 4.

Please explain in detail