Assume that potential projects $x,$ Y and $Z$ will each pay a total of $$100,000$ over $20$ years. $x$ pars $$3,000$ per year for $10$ years and $$2,000$ per year for $10$ years. Y pass $$2\mathrm{.}000$ per year for $10$ vears and $$8,000$ per vear for $10$ years. $Z$ pays $$5,000$ per year for $20$ years. Which project is likely to be most attractive to an investor?

The projects hare equal total cach flows and are likely to be equally attractive.

The project with lage cash flows early in likely to be most zitiractive.

The profect whth large canh flow later is lisely to be most artractive.

The project with equal cash flows each year is libely to be most attractive.