The prevailing cost of capital is 9% per annum.

What would various capital budgeting rules recommend for the following projects?

Cash Flow in Year Project 0 1 2 3 4 A –$1,000 $300 $400 $500 $600 B –$1,000 $150 $200 $1,000 $1,200 C –$2,000 $1,900 $200 D –$200 $300 E –$200 $300 $0 –$100