Infinity Limited is considering whether to embark on an 8-year project in South Africa. However, there is a chance that the South African government will seize the assets in any given year over the life of the project with increasing probability of 3 percentage points per annum. How many possible scenarios should Infinity Limited factor into their capital budgeting analysis of this project?

a. 1

b. 2

c. 9

d. 11

e. There is not enough information to answer this question.