You are in charge of one division of Bigfella Conglomerate Inc.Your division is

You are in charge of one division of Bigfella Conglomerate Inc.Your division is subject to capital rationing. Your division hasfour indivisible projects available detailed as follows:Project Initial OutlayIRR NPV1 2million 18% 25000003 1million 10% 6000002 1million15% 9500004 3million 9% 2000000If you must select projects subject to a budget constraint of 5million dollars which set of projects should be accepted so as tomaximize firm value? a. Projects 1 2 and 3 b. Project 1 only c. Projects 1 and 4 d. Projects 2 3 and 4