i need to know which probability to choose and why ? is it considered a mutual exclusive or independent investment

24. A company is evaluating the following capital projects for investment over the next two years. Two new machines with costs of $4 million each, computer software upgrade with a cost of $1 million and multi-year replacement of two aging machines involving an investment of $4.5 million for the first machine and another $4.5 million for the second machine if projected savings from the first machine are realized. All of these projects have positive net present values and the available budget is $10 million. The company should accept: * A. All of these projects. B. Those projects with the highest expected rates of return over the 2- year capital budgeting period. C. Those projects with the highest present value of expected future cash flows relative to required investment. D. None of the above