You have received capex proposals from your 4 unrelated operating divisions. Corporate has said that you have a $20,000 capex limit for the year. Which project(s) should you accept? Why? Rank projects. Make sure to calculate NPV, P/I, Payback... Project 1 Project 2 Project 3 Project 4 Capex 1 2 3 ($10,000) $6,000 $5,000 $2,000 ($8,000) $5,000 $3,000 $2,500 ($15,000) $1,000 $8,000 $10,000 ($18,000) $7,000 $8,000 $9,000 Capex budget Cost of capital $20,000 12.0%