Which evaluation tool is most useful when considering investment projects that are not mutually exclusive? Internal rate of return (IRR) Net present value (NPV) Initial outlay (IO) Profitability index (PI) A financial manager of a firm must choose only one project out of four potential projects, as indicated by the following table: If the firm has only $8,000 to invest, which project should this financial manager accept? Project 1 Project 2 Project 3 Project 4