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: O the levered cost of equity. O the dollar amount of the initial investment that is not financed with a loan, plus the loan. the present value of the future cash flows by discounting them at the cost of equity for a levered firm. the project's net present value. O the discounted value of the levered cash flows using the levered cost of equity as the discount rate