National Maps (NM) is evaluating the following independent capital budgeting projects: Project IRR 16.0% 14.5 13.5 Cost $15,000 20,000 12,000 S U NM's capital structure contains 30 percent debt; it has no preferred stock. If NM does not have to issue new common stock to raise funds, its weighted average cost of capital (WACC) is 12.5 percent; if new common stock must be issued, the WACC is 15 percent. NM expects to generate $31,500 in retained earnings this year. Which project(s) should be purchased? Projects M and S should be purchased. Only Project M should be purchased. All of the projects should be purchased. None of the projects should be purchased. Only Project S should be purchased. Ouestion 23 1 pts