Kane INC is considering several investment possibilities. Specifically, each investment under consideration will draw on the capital account during each of its first 3 years, but in the long run, each is predicted to achieve a positive net present value (NPV).

Listed in the table below are the investment alternatives, their net present values, and their capital requirements, and all figures are in thousands of dollars. In addition, the amount of capital available to the investments in each of the next 3 years is predicted to be $9.5 million, $7.5 million, and $8.8 million, respectively.

	Project
One-Phase Expansion	Two-Phase Expansion	Test Market	Advertising Campaign	Basic Research	Purchase Equipment
NPV	4,200	6,800	9,600	4,400	8,700	3,500
Year 1 Capital	3,000	2,500	6,000	2,000	5,000	1,000
Year 2 Capital	1,000	3,500	4,000	1,500	1,000	500
Year 3 Capital	4,000	3,500	5,000	1,800	4,000	900

Now, suppose that the projects Basic Research and Purchase Equipment are mutually exclusive. Add this constraint to your model and run Solver again. Which investments will the company optimally invest in?