Which of the following statements concerning the MMextension of growth is NOT co

Which of the following statements concerning the MMextension of growth is NOT correct?A. The tax shields should be discounted at the unlevered cost ofequity.B. The value of a growing tax shield is greater than the value of aconstant tax shield.C. For a given D/S the levered cost of equity is greater then thelevered cost of equity under MMs original (with tax)assumptions.D. For a given D/S the WACC is great than the WACC under the MMsOriginal (with tax) assumptions.E. The total value of the firm is independent of the amount of debtit uses.