There are two approaches to converting foreign denominated cash flows into home currency:
1) Convert foreign cash flows into home currency before discounting, using estimated future ____ _____ _____(use PPP or IFE to estimate future spot exchange rates).
--> Use ______ currency discount rate
2) Discount the foreign cash flows using a foreign ____ ____ ______, then convert the foreign NPV to a dollar NPV using the _____ spot rate.
--> Use -_____ currency discount rate