The KJL Company is contemplating five independent projects, with cash flows as in Table 9-16 (below). The MARR is 12% and the budget constraint is $200,000.

Compute the rate of return for each project.

What is the optimum portfolio, if the minimum desired payback period (Section 8.3) is two years?

End of Year	Project A	Project B	Project C	Project D	Project E
0	-$100,000	-$50,0000	-$75,000	-$60,000	-$95,000
1	$43,798	$21,899	$38,848.50	$30,000	$50,000
2	$43,798	$21,899	$38,848.50	$29,000	$45,000
3	$43,798	$21,899	$38,848.50	$18,228	$26,609