Project $M$ has a $10$ year life span and you, as the consultant, are looking at its NPV worksheet and notice that Year $3$ has a Discount Rate of $0\mathrm{.}35.$ How would you interpret this for the client?

Each year $3$ dollar is worth $35$ cents today

All the other $4$ answers are incorrect

Each present dollar is worth $65$ cents in year $3$

Each year $3$ dollar is worth $65$ cents today

Each present dollar is worth $35$ cents in year $3$