Select one: a. Project V, because it has a higher NPV using the WACC. b. Project V, because it has a higher risk-adjusted NPV. c. Both should be accepted because they both have a positive NPV. d. Project T, because it has a higher risk-adjusted NPV. e. Project T, because it has a higher NPV using the WACC. Apple Ltd is considering investing in one of two mutually exclusive projects T and V which are described below. Apple's weighted average cost of capital (WACC) is 14%, the market return is 14% and the risk-free rate is 5%. Apple estimates that the beta for project Tis 1.4 and the beta for project V is 1.1. Project I Project V Net after-tax cash inflows ($) Year O Initial investment -650,000 -680,000 Year 1 280,000 180,000 Year 2 280,000 220,000 Year 3 280,000 350,000 Year 4 280,000 460,000 The better investment for Apple Ltd is