Evaluate the capital budgeting method used historically by AES. What's good about it? What's bad about it?

If Venerus implements the suggested methodology, what would be the range of discount rates that AES would use around the world?

Should capital budgeting be done in this way?

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?