Recognizing risk Caradine Corp., a media services firm with net earnings of $3,200,000 in the last year, is considering the following projects:

Project	Initial investment	Detailas
A	-$35,000	Replace existing office furnishing
B	-$500,000	Purchase digital video editing equipment for use with several existing accounts
C	-$450,000	Develop proposal to bid for a $2,000,000 per year 10-year contract with the US Navy, not now on account
D	-$685,000	Purchase the exclusive rights to market a quality educational television program in syndication to local markets in the European Union, a part of the firm's existing business activities

The media services business is cyclical and highly competitive. The board of directors has asked you, as chief financial officer, to do the following:

a) Evaluate the risk of each proposed project and rank them as "low", "medium", "high"

b) Comment on why you chose each ranking.