Note that the case description mentions the credit spread, which is the premium for Marriott debt above the current $($risk$-$free$)$ government rates. In choosing which risk$-$free rate, Rf$,$ to use, you should note that as we discussed in class, as the best practice we should match the maturity of Rf with the expected life of the project. According to the case, is there any difference between the expected life of Marriott and its three$$ divisions?