(c) Bosanova PLC has 4 projects to consider. Capital has been rationed to $3 million by the head office. The four projects are not mutually-exclusive and the firm's cost of capital is 10%. The cash flows and NPVs for the 4 projects are described in Table 2 Table 2 Initial cost ($m) NPV at 10% ($m) 4.351 - 2 - 1 3.200 - 1 2.375 -3 6.420 The projects have to be undertaken completely (i.e. no fractions of projects) and a project can only be undertaken once. Which project(s) should be chosen? (6 marks) ABCD