Galaxy Satellite Co. is attempting to select the best group of independent projects competing for the firm's fixed capital budget of $10,000,000. Any unused portion of this budget will earn less than its 20 percent cost of capital. A summary of key data about the proposed projects follows.

Project	PV of Inflows	Initial Investment		IRR
A	$3,050,000	$3,000,000		21%
B	$9,320,000	$9,000,000		25%
C	$1,060,000	$1,000,000		24%
D	$7,350,000	$7,000,000		23%

1. Use the NPV approach to select the best group of projects. (Note that just the PV of inflows is given, you must subtract the initial investment to find the NPV.)
2. Use the IRR approach to select the best group of projects. (Note that the discount rate or the cost of capital is 20%.)
3. Whichprojectsshouldthefirmimplementbasedonyouranalysisofbothtechniquesandgiventhecapitalrationingamount?
4. Writeanemailtoyourboss,AndyFast,theCFO,explainingyourrationaleprovingthechoicesbasedontheconsiderationsofshareholdervalueandthemaximuminvestmentbudget.KeepinmindthatyouarelessconcernedwithusingthewholebudgetthanwithmaximizingthetotalreturntoGalaxysatellite.

How would I Show in a email to Andy Fast, The CFO explaining rational of chooses needing to make to shareholders and maximum investment budget.