XYZ, Inc. is evaluating several capital budgeting projects which are summarized in the table below. The cost of capital for XYZ is 8%.

Project	A	B	C	D
NPV	$1000	$1500	$1200	($400)
IRR	25%	12%	15%	5%
Payback Period (years)	4.0	3.0	2.0	1.5

If these projects are mutually exclusive, then XYZ should accept project(s)

A)

B)

C)

D)