You have just evaluated a long-term economic project for your city that will require millions of dollars of up front costs and have determined that at the discount rate you used to evaluate this project (15%) it will have a barely positive Net Present Value (NPV). You are not convinced that the city should pursue this project with the result you found. Further investigation and analysis of this project indicates that it is less risky that first thought and that you should have used a 9% discount rate to evaluate it. If you perform a new analysis at a 9% discount rate what result would you expect to find?

a. The project will be much less attractive and should almost certainly be rejected.

b. The project will look substantially better and should probably be accepted.

c. The project will probably not change much and it will remain uncertain. Changing the discount rate will not affect the end result.