The return period \( T \) is calculated using the formula:
\[
{Risk} = 1 - \left(1 - \frac{1}{T}\right)^n,
\]
where:
- \( n = 25 \) years (the expected life of the project),
- Risk = 5%.
Substituting the values into the formula:
\[
0.05 = 1 - \left(1 - \frac{1}{T}\right)^{25}.
\]
Solving for \( T \), we get:
\[
T = \frac{1}{1 - (0.95)^{1/25}} \approx 488 \, {days}.
\]
Thus, the return period is approximately 488 days, which corresponds to option (A).