There are 4 projects under consideration for investment purposes. Their initial costs and NPVs are listed in the following table.

Project	A	B	C	D
Initial cost	$20	$20	$30	$50
NPV	$5	$7	$9	$15

Total funds available is $50. A and B are mutually exclusive. A and C are mutually exclusive. What project(s) should be selected to obtain the largest aggregate NPV?

Select one:

a. C and D

b. C

c. B and C

d. D

e. B and D