the capital budgeting manager of conscientious construction company (CCC) subm

the capital budgeting manager of conscientious construction company (CCC) submitted the following report to CFO:

Project IRR Risk

A 9.0% low

B 10.0 average

C 12.0 high

CCC generally takes risk into consideration by adjusting its average required rate of return which equals 8 percent when evaluating projects with risks that
are either substantially lower or substantially higher than average. A 5 percent adjustment is made for high-risk projects and a 2 percent adjustment is made
for low-risk projects. If the above projects are independent which project(s) should CCC purchase?