Oxford Company has limited funds available for investment and must ration the funds among four competing projects. Selected information on the four projects follows: Project Investment Required Present Value of Cash Inflows Life of the Project (years) Internal Rate of Return A $ 200,000 $ 299,323 7 11% B $ 146,000 $ 272,000 12 16% C $ 100,000 $ 230,035 7 15% D $ 161,000 $ 308,136 3 14% The net present values should be computed using a