The Shoe Building Inc. is financed exclusively using equity funding and has a cost of equity of 12.25%. It is considering the following projects for investment next year: Project Required Investment Expected Rate of Return W $54,675 13.65% X $42,450 9.60% Y $27,575 13.10% N $32,875 11.10% Each project has average risk, and The Shoe Building Inc. accepts any project whose expected rate of return exceeds its cost of capital. How large should next year's capital budget be? $82,250 $87,550 $75,325 $102,900