Priorities of Discount Schedules across different objects in Salesforce CPQ

There are discount schedules on a few objects in Salesforce CPQ :

1. Contracted Price
2. Product Feature
3. Product Option
4. Product

But which one takes priority? Below is the diagram and notes which explain the priority of discount schedules in Salesforce CPQ

      Contracted Price Discount Schedule : 

If you generated a contracted price from a product that has a discount schedule, then this field refers to the discount schedule on the product record. If you manually created the contracted price, you can define the discount schedule on the contracted price record. As long as the contracted price is active, the discount schedule on the Contracted Price record overrides the discount schedule on the product record.

       Product Option Discount Schedule : 

Applies this discount schedule to quote lines generated from the product option. The discount schedule overrides discount schedules on the product or feature related to this product option. This field is useful when you have a product sold standalone or as part of a bundle and want unique discount schedules for each type of sale.

       

       Product Feature Discount Schedule : 

Lookup to a Discount Schedule that applies to all this feature's options. This value overrides any discount schedule defined on the product option's product record. However, it doesn't override a discount schedule on the product option record.

       

       Product Discount Schedule : 

Lookup to a Discount Schedule that applies to the Product record.