A county is considering using a piece of parkland 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 $15.5 million and generate net benefits of $2 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: Find the NPV, IRR, PI, Discounted Payback Period, Regular Payback Period, and AEA for each of the two alternatives. Which project would the county select?