GHI Enterprises has a budget of $950,000 for capital investments. The projects being considered are listed below. Determine which projects should be selected to maximize NPV, while staying within the budget. The opportunity cost of capital is 13 percent.

Project	Investment ($thousands)	NPV ($thousands)	IRR (%)
1	150	20	14.2
2	250	35	15.3
3	400	50	12.5
4	350	60	16.1
5	300	40	13.8
6	200	25	14.7

Requirements:

1. Identify the projects to be undertaken.
2. Calculate the total investment for the selected projects.
3. Compute the total NPV of the selected projects.
4. Analyze how the opportunity cost of capital affects the decision.