Vang Enterprises, which is debt-free and finances only with equity from retained earnings, is considering 7 equal-sized capital budgeting projects. Its CFO hired you to assist in deciding whether none, some, or all of the projects should be accepted. You have the following information: rRF = 3.50%; RPM = 5.00%; and b = 0.98. The company adds or subtracts a specified percentage to the corporate WACC when it evaluates projects that have above- or below-average risk. Data on the 7 projects are shown below. If these are the only projects under consideration, how large should the capital budget be? Expected Project Risk Risk factor return Cost (millions) 1 Very low -2.00% 7.60% $45 2 Low -1.00% 9.05% $45 3 Average 0.00% 10.15% $45 4 High 1.00% 10.40% $45 5 Very high 2.00% 10.85% $45 6 Very high 2.00% 11.05% $45 7 Very high 2.00% 13.00% $45 a. $270 million b. $180 million c. $90 million d. $135 million e. $315 million