Question 24 (3.5 points) Smythe Company is considering the following 5 capital budgeting projects. The cost of capital for all projects is 14%. Project Initial Cost NPV IRR PI A $1,000,000 ($650,000) 10% 0.96 $400,000 $113,000 18% 1.33 $10,000 $2,500 21% 1.52 $2,500,000 $20 15% 1.01 $8,350,000 $515,000 1796 1.44 If the projects are INDEPENDENT, which project(s) should Smythe accept? (Note: it is possible that more than one project should be accepted. You must check all that apply to receive credit - this is an all or nothing question. That is, if they should accept projects A and B and you check only A or only B or if you also check c, your answer will be marked wrong). O Project Project Project C O Project Project E