GHI Co. has a capital allocation limit of $1,500,000. The company is considering the following 7 projects:

Project	Investment ($thousands)	NPV ($thousands)	IRR (%)
P1	500	80	15.0
P2	400	70	14.0
P3	300	50	13.0
P4	200	40	12.5
P5	150	25	11.0
P6	250	35	12.0
P7	100	20	10.5

• Determine which projects should be selected.
• Calculate the total NPV of the chosen projects.
• The opportunity cost of capital is 10%.