You, the CFO of a large corporation, are evaluating the value of three different investment opportunities:

Project A: We expect this project to yield cash flows of $5 million over the next ten years.

Project B: We expect this project to yield zero cash flows for the first four years but then a $50 million dollar cash flow at the end of the fifth year.

Project C: We expect this project to yield cash flows of $500,000 forever.

If we assume that the rate of return or r is 5% for each of these projects, which project (set of cash flows) is worth the most to us TODAY?