You plan to analyze the value of a potential investment by calculating the sum of the present values of its expected cash flows. Which of the following would increase the calculated value of the investment?

The total amount of cash flows remains the same, but more of the cash flows are received in the later years and less are received in the earlier years.

The cash flows are in the form of a deferred annuity, and they total to $$100,000.$ You learn that the annuity lasts for $10$ years rather than $5$ years, hence that each payment is for $$10,000$ rather than for $$20,000.$

The discount rate increases.

The riskiness of the investment's cash flows increases.

The discount rate decreases.