N Biotech Company is evaluating several development projects for experimental drugs. Although the cash flows are difficult to forecast the company has come up with the following estimates of the initial capital requirements and NPVs for the projects. Given a wide variety of staffing needs, the company has also estimated the number of research scientists required for each development project. Project Number 1 II III NPV 25 000 40 000 50 000 60 000 Initial Capital 20 000 30 000 30 000 40 000 Number of Research Scientists 10 15 15 IV 25 a. Suppose that N Biotech has a total capital budget of 100 000. How should it prioritize these projects? 3 b. Suppose that N Biotech currently has 50 research scientists and does not anticipate being able to hire any more in the near future. How should N Biotech prioritize these projects