What is the problem with using a constant discount rate for all projects? Explain in the context of both all-domestic and international company.

1-What is the problem with using a constant discount rate for all projects? Explain in the context of both all-domestic and international company. (Possibly a trick question, be careful and think well before writing.)
2- What is the value of the Pakistan project using the cost of capital derived from the new methodology?

Only answer the assigned questions. Short, sweet but complete answers is the key. Be sure to show math and explain the numbers. I want to see that you can think and not just calculate.

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