The flow$-$to$-$equity $($FTE$)$ approach in capital budgeting is defined as the:Multiple Choice$00$:$21$:$27$discounting of a project's unlevered cash flows to the equityholders at the WACC.scale$-$enhancing discount process.discounting of all project cash flows at the overall cost of capital.dividends and capital gains that will be avallable to flow to shareholders of a firm.discounting of a project's levered cash flows to the equityholders at the required retur on equity.