1. Shamo Ventures has identified five projects with positive Net Present Value but can raise an amount of GHS150,000 in loans from the International Financial Market at a cost to finance these projects in the coming year, 2023. Below are the Net Present Values of the projects:

Project	A	B	C	D	E
NPV (GHS’000)	500	400	350	200	280
Investment @ time 0 (GHS’000)	90	120	60	40	45

Required:

Advise the company which project(s) to accept if the projects are:

1. independent and divisible

ii) independent and indivisible

iii) mutually exclusive