Marble Construction estimates that its WACC is 8% if equity comes from retained earnings. However, if the company issues new stock to raise new equity, it estimates that its WACC will rise to 8.6%. The company believes that it will exhaust its retained earnings at $2,800,000 of capital due to the number of highly profitable projects available to the firm and its limited earnings. The company is considering the following seven investment projects:

Project	Size			IRR
A		$ 650,000		13.5	%
B		1,000,000		13.3
C		960,000		8.2
D		1,250,000		8.9
E		470,000		8.4
F		650,000		7.8
G		650,000		9.3

Assume that each of these projects is independent and that each is just as risky as the firm's existing assets. Which set of projects should be accepted?

Project A	-Select-acceptdon't acceptItem 1
Project B	-Select-acceptdon't acceptItem 2
Project C	-Select-acceptdon't acceptItem 3
Project D	-Select-acceptdon't acceptItem 4
Project E	-Select-acceptdon't acceptItem 5
Project F	-Select-acceptdon't acceptItem 6
Project G	-Select-acceptdon't acceptItem 7

What is the firm's optimal capital budget? Round your answer to the nearest dollar.

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