11. 10.22 You have been offered the opportunity to invest in one of the two programs outlined below: railroads or olive trees. Select one on the basis of their capitalized costs with adjustments made for inflation. The M&O and proceeds are one investor’s share of the annual costs and projected end-of-project proceeds. Revenues are expected to be the same for both. Use i = 12% and f = 3% per year. Table Summary: A table divided into 3 columns summarizes two opportunities to invest with the capitalized costs and inflation adjustments. The column headers are marked as: Alternative; Railroads; and Olive Trees. Alternative Railroads Olive Trees Investment now, $ −18,500 −9,000 M&O, $ per year −250 −1,000 End-of-program proceeds, $ 10,500 8,200 Life, years ∞ 10