Two projects have the following cash flows.

Year	Project A Cash Flow	Project B Cash Flow
1	$4,000	$2,000
2	$3,000	$3,000
3	$0	$2,000
4	$3,000	$3,000

Pick the correct statement related to the two projects assuming the discount rate is positive from below. (No calculations needed).

Multiple Choice

• The cash flows for Project B are an annuity, but those of Project A are not.

• Both sets of cash flows have equal present values as of Time 0.

• The present value at Time 0 of the final cash flow for Project A will be discounted using an exponent of three.

• Both projects have equal values at any point in time since they both pay the same total amount.

• Project B is worth less today than Project A.