Pieterse Investment Pty Ltd is evaluating new capital budgeting projects. Their evaluation method involves comparing each projects risk-adjusted return obtained from the capital asset pricing model (CAPM) with the projects average rate of return.

Probabilities	0.40	0.45	0.15	Beta
Project	Rates of return (%)
A	4	2	5	-0.5
B	2	6	12	0.6
C	12	16	18	1.1
D	-8	26	50	2.0

The risk-free rate of return is 6% and the market rate of return is 12%. Which projects should be selected