For What Reason Is a Higher Discount Rate Is Often

For what reason is a higher discount rate is often used when performing Shareholder Value Analysis (SVA) ?

A) To weight future cash flows more heavily than current cash flows.
B) When the desire is to project a more optimistic scenario.
C) To avoid overestimating the value of the business to the shareholder.
D) When returns from capital projects are not expected to be achieved in the short term.
E) When factors that impact cash flows are less predictable.