11. The SPV's cost of equity is: a) the weighted average of sponsors' WACC. b) the sponsors' weighted average cost of equity. c) independent of the cost of the sponsors' sources of financing. 12. Cover ratios are: a) indicators of financial sustainability for a project finance deal. b) Profitability indicators for a project finance deal. c) profitability indicators for debt capital providers, but not for sponsors. 13. If the loan life cover ratio is greater than 1 : a) it means there would be a cash surplus for sponsors if the investment were liquidated immediately. b) it means there would be a cash deficit for sponsors if the investment were liquidated immediately. c) it means that for every year of project development, the SPV can generate sufficient resources to cover financial outflows