Which of these three projects do you think should have the highest risk from the point of view of investors (potential providers of funds) and would therefore be evaluated using the highest discount rate?

This assignment is in two parts, one is quantitative problem, the

Building a new shopping center, developing a new product, or investing in existing technology?
Building a new shopping center would have the highest risk from the point of view of investors and would therefore be evaluated using the highest discount rate.