Which of the following are guidelines for the three methods of capital budgeting with leverage?

a. Use APV if projects level of debt is known over the life of the project.

b. Use APV if projects level of debt is unknown over the life of the project.

c. Use Flow-to-equity or WACC if the firms target debt to value ratio applies to the project over its life.

d. Use both APV if projects level of debt is known over the life of the project; and use Flow-to-equity or WACC if the firms target debt to value ratio applies to the project over its life.

e. Use both APV if projects level of debt is unknown over the life of the project; and use Flow-to-equity or WACC if the firms target debt to value ratio applies to the project over its life.