To make a decision whether a levered project is worth investing money into, one can use the so-called "flow-to-equity approach". This approach requires calculating all the following EXCEPT:

the levered cost of equity.
		the sum of all future and the current cash flows of the project.
		the dollar amount of the initial investment that is not financed with a loan.
		the present value of the future cash flows by discounting them at the cost of equity for a levered firm.
		the discounted value of the levered cash flows using the levered cost of equity as the discount rate.