Students must evaluate eight projects' cash flows and rank the projects in terms of their economic attractiveness. Students can use all possible criteria [net present value (NPV), internal rate of return (IRR), return on investment (ROI), profitability index, and payback]. This case introduces the valuation and comparison of capital investments. With advanced students, the case can be used to review the effects of unequal project lives and uncertain discount rates. Student and instructor worksheet files are available for use with the case and teaching note.