Kaiman Properties (P) is evaluating six real estate investments Management plans to buy the properties today and sal them five years from today. The following table summarizes the initial cott and the expected sale price for each property as well as the discount based on the risk of each Project Mountain Ridge Ocean Park Estates Lakeview Seabreeze Green Hills West Ranch Cost Today $3,000,000 15,000,000 9,000,000 6,000,000 3,000,000 9,000,000 Discount Rate (56) 15 15 15 8 8 B Expected Sale Price in Year 5 $18,000,000 75,500,000 50.000.000 35,500,000 10,000,000 46,500.000 KP has a total capital budget of $18,000,000 to invest in properties. a. What is the IRR of each investment? b. What is the NPV of each investment? e. Given its budget of $18,000,000, which properes should KP choose? d. Explain why the profitability index method could not be used if KP's budget were $52.000.000 instead. Which properties should KP choose in this case