Case Study: Globalizing the Cost of Capital and Capital Budgeting at AES

Question $1$: Does this make sense as a way to do capital budgeting? Is AES double$-$counting risks with its methodology?

Question $2$: What is the value of the Pakistan project using the cost of capital derived from the new methodology? If this project was located in the U$.$S$.,$what would its value be$?$

Please respond with detailed analysis and make use of tables$/$graphs if required.