Early Stage Venture Partners has been presented with four investment proposals and they have $\$ 12,000$ left in their venture fund. If the required rate of return is $25 \%$, which of the following should be selected for investment? Assume that there is more than one project that is viable but the investment is $\$ 12,000$ in each case.

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Project A. Teddy-Fan cookie cutter kits B. LNG motorcycle conversions C. Catalytic converter recycling D. Cell phone on-line sales PW Horizon $450 5 10 127 $15,000 -$2,000 $1,900