What is the most appropriate way for an Agile team to estimate a project?

At a strategic level, what is the most appropriate way for an Agile team to estimate a project?
A. Creating a strategic plan by estimating hours and days required
B. Using an abstract measurement to estimate Product Backlog items
C. Estimating source lines of code needed to implement the features
D. Taking an initial set of estimates and adding an appropriate risk factor

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