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Orchid Biotech Company is evaluating several different development projects for experimental drugs. Although the cash flows...

Orchid Biotech Company is evaluating several different 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​ (all cost values are given in millions of​ dollars). Project Number Initial Capital​ ($) Number of Research Scientists NPV​ ($) I 10 2 10.1 II 15 3 19.0 III 15 4 22.0 IV 20 3 25.0 V 30 12 60.2 a. Suppose that Orchid has a total capital budget of $ 60 million. How should it prioritize these​ projects? b. Suppose that Orchid currently has 12 research scientists and does not anticipate being able to hire more in the near future. How should Orchid prioritize these​ projects? a. Suppose that Orchid has a total capital budget of $ 60 million. How should it prioritize these​ projects? The profitability index for Project I is nothing. ​(Round to two decimal​ places.)

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