A company has identified the following investments as looking promising. Each

A company has identified the following investments as looking promising. Each requires an initial investment of $1.2 million. Which is the best investment?

a.) a perpetuity that generates a cash flow at the end of year 1 of $100000 has a growth rate of 1.25% and a cost of capital of 10%

b.) a perpetuity that generates a cash flow at the end of year 1 of $800000 has a growth rate of 2.25% and a cost of capital of 12%

c.) an investment that generates a cash flow of $400000 at the end of each of the next five years when the cost of capital is 6%

d.) an investment that generates a cash flow of $200000 at the end of each of the next ten years when the cost of capital is 6%