问题如下：
5. Is Böhm most likely correct regarding Comment A about the $10 million investment and Comment B about using the after-tax cost of debt?
选项：
A.No for both comments.
B.Yes for both comments.
C.No for Comment A and Yes for Comment B.
解释：
A is correct.
The $10 million original cost is a sunk cost and not relevant. The correct investment is today’s opportunity cost, the market value today. The correct discount rate is the project required rate of return.
您好，B选项答案说用required rate折现，但是该项目不就是100%用debt融资的么？我知道折现率要匹配，project要用它的本身的required rate不是WACC，但这个题目中的required rate不就应该是债务成本？这个债务成本肯定不是指公司的WACC吧，公司的WACC怎么可能只含债务成本？
