33.2
| Year 0 | Year 1 | Year 2 | Year 3 | |
| Project A | -1000 | 500 | 500 | 500 |
| Project B | -800 | 550 | 575 |
2. Assume that the discount rate is 15% per year. If you were planning to repeat one of these projects over and over again forever, which one would you choose and why? (6)