In order to value a project which is not scale enhancing you need to:

A. discount at the market rate of return since the project will diversify the firm to the market.

B. typically calculate the equity cost of capital using the risk adjusted beta of another firm in the industry before calculating the WACC.

C. typically increase the beta of another firm in the same line of business and then calculate the discount rate using the SML.

D. typically you can simply apply your current cost of capital.

E. typically calculate the equity cost of capital using the risk adjusted beta of another firm in another industry before calculating the WACC.