(I) PV of Net Operating Cash Flows

(I) PV of Net Operating Cash Flows
(II) PV of Depreciation Tax Shield
(III) PV of the Benefit for the Concessionary Loan
(IV) PV of the Interest Tax Shield
(V) Initial cost of the project
-The discount rates to use for the APV calculations are:

A) Cost of domestic debt for (II) ,(III) ,(IV) and (V) .
B) Cost of domestic debt for (II) and (IV) .
C) Cost of foreign debt for (II) ,(III) ,(IV) and (V) .
D) Cost of foreign debt for (II) and (IV) .