You are a member of the Board of Directors for a firm that researched and planned a large capital project in 2014 (6 years ago). After 18 months of market research and analysis, it was decided to shelve the project and not proceed since EVA would not have been created based upon the firms WACC at that time. Now, given Covid-19 and the radical decline in interest rates, the firms WACC has declined substantially. In fact, the yield curve offers long-term Treasury Rates close to zero. Perhaps like Germany or Japan, they may even go negative. The Finance Department believes the project should now be initialized (started) because of the radical drop in funding costs.

Question: What is your contribution to the discussion inside the Board Room regarding whether or nor not to proceed?