VWX Ltd. has a budget of $650,000 for capital investments. The firm is evaluating four projects with varying capital requirements, NPVs, and IRRs. The opportunity cost of capital is 13 percent. The projects are: Project A with an investment of $200,000, an NPV of $20,000, and an IRR of 14%; Project B with an investment of $150,000, an NPV of -$10,000, and an IRR of 9%; Project C with an investment of $100,000, an NPV of $15,000, and an IRR of 12%; and Project D with an investment of $300,000, an NPV of $25,000, and an IRR of 11%. Determine which combination of projects should be accepted to maximize the total NPV without exceeding the budget and discuss the implications of the opportunity cost of capital.