Webley Corp. has a capital budget limited to $20 million. Five relatively high IRR projects are available that have initial investments totaling $15 million. They are all roughly the same size. A sixth project has an IRR only slightly lower than those of the first five but requires an $8 million investment. Several other smaller projects are available with IRRs quite a bit lower than the sixth. The president has stated that it’s too bad the firm has to pass up the sixth project, but it just doesn’t fit into the budget. How would you advise him?