Company XYZ is aggressively expanding globally. It is evaluating four markets: Latin America, Europe, Asia and Middle East.

Latin AmericA. Risk adjusted discount ratE. 15%, Payback period=7 years, IRR=15%

EuropE. Risk adjusted discount ratE. 8%, NPV=$20M

Middle East: Risk adjusted discount ratE. 11%, IRR=12%, NPV=$5M

AsiA. WACC. 9%, Payback=2 yrs, IRR=8%

Based on the information, which two markets will company XYZ MOST LIKELY pursue?