You are evaluating a project which will cost $3,000 and has an expected future cash flow of $700 per year, forever, if we start it immediately. If we wait one year to start the project, the cost will increase to $3,500 and the expected future cash flows will increase to $795 per year; if we wait two years to start the project, the cost will increase to $4000 and the expected future cash flows will increase to $885 per year. If the required return is 10 percent, what should we do?

a. Reject the project

b. Begin the project immediately

c. Decide today to start the project in one year

d. Decide today to start the project in two years