Consider the timing of the profits of the following certain investment projects:

 Consider the timing of the profits of the following certain investment projects:        
                               Profit
                          L             S
Year 1          $      0       $ 3000
Year 2          $ 3000      $       0
a.     Project S is preferred to Project L.
b.     Project L is preferred to Project S.
c.     Projects S and L are equally desirable.
d.     A goal of profit maximization would favor Project S only.

Solution