JKL Manufacturing has an investment budget of $1,500,000. The firm is evaluating six projects with varying investment costs, NPVs, and IRRs. The opportunity cost of capital is 11 percent. Analyze the following projects:

• Project 1: Investment of $500,000; NPV of $70,000; IRR of 14%
• Project 2: Investment of $400,000; NPV of $50,000; IRR of 12%
• Project 3: Investment of $300,000; NPV of $30,000; IRR of 11%
• Project 4: Investment of $200,000; NPV of $20,000; IRR of 10%
• Project 5: Investment of $600,000; NPV of $90,000; IRR of 15%
• Project 6: Investment of $100,000; NPV of $10,000; IRR of 9%

Requirements:

1. Determine which projects should be undertaken.
2. Calculate the total investment amount for the selected projects.
3. Compute the total NPV of the selected projects.
4. Discuss the relevance of IRR in the selection process.
5. Assess the role of the opportunity cost of capital in the decision.