Think about changes in a project once it has been accepted and moving forward. Here are $3$ potential scenarios. For each, assume everything else stays the same and describe what you expect to happen to a project's expected NPV$,$ and WHY that is your expectation. $(2$ pts for each of the following$).$ Recall the $3$ important factors for value: riskiness of cash flows $($think required rate of return$),$ timing of cash flows, and amount of cash flows.

a$)$ Labor shortages and supply delays have hit your company across most sectors$,$ including a new hotel that is under construction. Instead of the hotel opening in September of $2023,$ it is now anticipated that the hotel won$$t be completed until mid$-2025.$ These changes are anticipated to both increase construction costs as well as delay projected revenues on the project. Note: be sure to discuss each of these issues and whether they will offset or multiply the effect on NPV$.$