T-Pain is the capital budgeting manager of Lonely Island Inc. and is faced with selecting from the following independent projects:

Boat: Investment = $75 M, NPV = $141 M, IRR = 16%, PI = 2.88

Poseidon: Investment = $25 M, NPV = $48 M, IRR = 121%, PI = 2.92

Mermaid: Investment = $75 M, NPV = $68 M, IRR = 22%, PI = 1.91

Flippy Floppy: Investment = $75 M, NPV = $55 M, IRR = 7%, PI = 1.73

Buoy: Investment = $25 M, NPV = $39 M, IRR = 18%, PI = 2.56

Titanic: Investment = $100 M, NPV = -$45 M, IRR = 2%, PI = 0.55

If Mr. Pain has a CAPX budget of $125 M, which project(s) should he choose?

Group of answer choices

A. Project Poseidon, Mermaid, and Buoy

B. Projects Poseidon, Flippy Floppy, and Buoy

C. Projects Poseidon, Mermaid, and Buoy

D. Projects Boat, Poseidon, and Buoy

E. Projects Poseidon and Titanic