You have the following data on four possible projects. If the projects are mututally exclusive, which project(s) should be chosen?

	NPV	IRR	Payback Period
Project-A	-$22,000	-1.67%	1.3 years
Project-B	11,500	22.90%	3.3 years
Project-C	15,900	7.80%	4.2 years
Project-D	15,800	22.50%	2.2 years

Multiple Choice

• Accept Projects B, C, and D, because they all have a positive NPV.

• Accept Project B, because it has the highest internal rate of return (IRR).

• Accept Project D, because its NPV is barely less than the next highest NPV among the other project and has an IRR barely less than the next highest IRR.

• Accept Project A, because its faster payback period indicates the project will recover its initial investment in a shorter time than all the others.

• Accept Project C, because it has the highest Net Present Value (NPV).