To calculate the current value of a real option, one needs to __________.

A) Compute the expected value of the options future payoffs at the companys cost of capital

B) Compute the expected value of the options future payoffs using managers probabilities

C) Compute the discounted expected value of the options future payoffs using the risk-neutral probabilities and the risk-free rate

D) Sum the options future payoffs discounted at the risk-free rate

E) None of the above