10. The effect of financial leverage depends on the operating earnings of the company. Which of the following is not true? (a) Below the indifference or break-even point in EBIT the non-levered structure is superior. (b) Financial leverage increases the slope of the EPS line. (c) Above the indifference or break-even point the increase in EPS for all equity structures is less than debt-equity structures. (d) Above the indifference or break-even point the increase in EPS for all equity structures is greater than debt-equity structures. (e) The rate of return on operating assets is unaffected by leverage