Jacob Industries, Inc. is in the process of determining its optimal capital budget for next year. The following investment projects are under consideration:

Required Expected Rate Project Investment of Return A $6 million 18.0% B 3 million 16.0% C 1 million 14.5% D 6 million 14.0% E 6 million 13.5% F 3 million 13.0% G 5 million 12.5%

The firm's marginal cost of capital schedule is as follows:

Amount of Funds Raised Cost $0 - $12 million 13.5% $12 million - $20 million 14.5% $20 million - $28 million 15.5% Over $28 million 16.5%

Determine Jacob's optimal capital budget (in dollars) for the coming year.

Question 13 options:

	10 million
	22 million
	25 million
	16 million