You're the CFO of a company faced with the following investment opportunities. The company has an investment budget of $10 million and the cost of capital is 9%.

What investment or investments should you choose?

Project	Initial Investment	Cash flow
A	$10 million	$3.0 million per year for five years
B	$10 million	$2.0 million per year for ten years
C	$5 million	$1.7 million per year for four years
D	$5 million	$1.7 million per year for six years

a) Project B

b) Project D

c) Project C and Project D

d) Project B and D