单选题 An analyst gathered the following information about a company that expects to fund its capital budget without issuing any additional shares of common stock:

source of capital	capital structure proportion	marshal after-tax cost
long-term debt preferred stock common equity	50% 10% 40%	6% 10% 15%

net present values of three independent projects	amount
warehouse project equipment project product line project	$426 $0 - $185

If no significant size or timing differences exist among the projects and the projects all have the same risk as the company, which project has an internal rate of return that exceeds 10 percent? A. All three projects. B. The warehouse project only. C. The warehouse project and the equipment project.