viii Kelsey wants to select the best group of independent projects with a fixed capital budget of $400,000. (Assume any unused portion of this budget will simply break even and does not affect your decision.) Using the summary of key data about the proposed projects below, how much of the capital budget does she have left over? Project A B D Initial Investment ($110,000) (120,000) (185,000) (80,000) IRR 13% 17 PV of Inflows (k = 9% NPV? $190,000 200,000 255,000 140,000 16 19 a. $110,000 b. $15,000 c. $90,000 d. $185,000 e. $0