# A county is considering using a piece of park land for one of two alternative recreation projects.

A county is considering using a piece of park land for one of two alternative recreation projects. Project S would require construction costs of \$2 million (year 0) and generate net benefits of \$1 million per year for 10 years. (Assume the benefits are realized at the ends of years 1 through 10). Project L would require construction costs of \$4 million and generate net benefits of \$1 million per year for 20 years. (Assume the benefits are realized at the ends of years 1 through 20). If these figures are in real dollars, and the real discount rate is 8 percent, which project would the county select? Show you calculations. Provide me with sufficient information so I can tell how arrived at you decision.

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