Salient Corp. has estimated the following Marginal Cost of Capital (MCC) Schedule: WACC1 = 13.7% Breakpoint1 (Retained Earnings) = $7,270,000

WACC2 = 14.1% Breakpoint2 (Depreciation) = $10,270,000

WACC3 = 15.5%

The firm is evaluating the following independent, discretionary, normal cash flow projects as part of their Investment Opportunity Set:

Project Investment ($) Internal Rate of Return

A $3,275,000 17.3%

B $4,500,000 15.7%

C $2,220,000 15.0%

D $2,000,000 14.8%

What is Salients optimal capital budget which projects should they invest in and which ones should they reject? (Please identify the relevant WACC for each project first.)