Micron Technology, Inc. is in the process of determining its optimal capital budget for next year. The following investment projects are under consideration:

Required Expected Rate Project Investment of Return A $7 million 18.0% B 5 million 15.0% C 5 million 14.5% D 3 million 14.0% E 3 million 13.5% F 3 million 13.0% G 6 million 12.5%

The firm's marginal cost of capital schedule is as follows:

Amount of Funds Raised Cost $0 - $12 million 13.0% $12 million - $18 million 13.5% $18 million - $28 million 15.5% Over $28 million 16.5%

Determine Micron Technology's optimal capital budget (in dollars) for the coming year.

Question 11 options:

	32 million
	12 million
	20 million
	17 million