Brea Technologies Co. is evaluating several different development projects. The firm has come up with the following estimates of initial capital requirements and NPVs for 5 potential projects. Given a wide variety of staffing needs, the company has also estimated the number of technical employees required for each project (all dollars in millions). Brea has a total capital budget of $65 million and has only 12 technical employees. They cannot hire any additional employees, and each employee can be assigned to only one project. Which projects should Brea select and why? Please explain and show the work.

Project NPV Initial Capital Number of Employees $5.4 $10.5 3 B 7.1 14.5 7 18.4 34.0 5 D 12.2 19.5 2 E 9.8 22.0 6 Project NPV Initial Capital Number of Employees $5.4 $10.5 3 B 7.1 14.5 7 18.4 34.0 5 D 12.2 19.5 2 E 9.8 22.0 6