Repeat the Clean Energy Ltd. exercise when the discount rate is subject to variability, assuming that it comes from a triangular distribution, with parameter values: 0.08 (minimum), 1.00 (most likely), 1.20 (maximum).

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Clean Energy Ltd. Clean Energy Ltd. plans to invest $100 million in a new plant to treat industrial waste. The firm's management expects to obtain annual cash flows that may be assumed to follow a normal distribution with mean $25 million and standard deviation $5 million during the first three years. During the following two years, the mean is expected to remain constant but uncertainty will increase so that standard deviation will double. Also, during next year, a $30 million subsidy for clean energies from the government may materialize with probability 60 percent. As for the discount rate, the management believes it can be 9 percent, 10 percent, or 11 percent, each with the same probability.