Martock Corp. is considering one of the following four mutually exclusive projects(WACC of 10.7%): Project Aphrodite: Requires an initial investment of $15 mln, payable today. Annual cash inflows from the project will be $2.25 mln for 20 years.

Project Apollo: Requires an initial investment of $17 mln payable today. Cash inflows in Year 1 will be 3 mln. Cash inflows will then grow by 7% per year until the project ends in Year 9.

Project Demeter: Requires an initial investment of $13.5 mln, payable in Year 5 (when the project is to start). The project will then generate annual cash inflows in Years 6 through 9 of $2.85 mln, $3.15 mln, $9.85 mln, and $5.75 mln, respectively.

Project Zeus: Requires an initial investment of $10 mln, payable today. The project will then generate cash inflows of $5 mln in Year 5, $10 mln in Year 10, and $20 in Year 13. Which of the projects should MC undertake? Justify your answer.