Marble Construction estimates that its WACC is 12% if equity comes from retained earnings. However, if the company issues new stock to raise new equity, it estimates that its WACC will rise to 12.5%. The company believes that it will exhaust its retained earnings at $2,400,000 of capital due to the number of highly profitable projects available to the firm and its limited earnings. The company is considering the following seven investment projects:

Project	Size			IRR
A		$ 660,000		14.3	%
B		1,010,000		13.3
C		1,030,000		12.0
D		1,210,000		12.9
E		500,000		12.7
F		660,000		11.8
G		650,000		11.7

Assume that each of these projects is independent and that each is just as risky as the firm's existing assets. Which set of projects should be accepted?

Project A	accept/don't accept
Project B	accept/don't accept
Project C	accept/don't accept
Project D	accept/don't accept
Project E	accept/don't accept
Project F	accept/don't accept
Project G	accept/don't accept

What is the firm's optimal capital budget? Round your answer to the nearest dollar.

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