Following are three independent projects Peanut/Pecan Processing (PPP) is evaluating:

Project	IRR		Risk
P	11.0	%	Low
Q	12.0		Average
R	14.5		High

PPP generally considers risk when examining projects by adjusting its average required rate of return, r, which equals 10 percent. A 5 percent adjustment is made for high-risk projects, and a 3 percent adjustment is made for low-risk projects. Which project(s) should PPP purchase? Round your answers to the nearest whole number.

Project	Risk-Adjusted r	Acceptable?
P	%	-Select-Yes or No
Q	%	-Select-Yes or No
R	%	-Select-Yes or No

Thus, -Select-Project P, Project Q, Project R, Projects P and Q, Projects P and R, Projects Q and R, all projects, none of projects,should be purchased.