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You have to decide between the following two projects: Year Project Million Project Billion 0 -$3,100 -$10 1 350 10+ +1,350 2 3 1,150

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You have to decide between the following two projects: Year Project Million Project Billion 0 -$3,100 -$10 1 350 10+ +1,350 2 3 1,150 2,150 2,150 3,500 The expected rate of return for either of the two projects is 13 percent. What is the range of initial investment (o) for which Project Billion is more financially attractive than Project Million? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Initial investment

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