16. Which of the following statements is FALSE? A) To estimate a firm's enterprise value, we compute the present value of the free cash flows (FCF) which are available to pay only equity holders. B) The NPV of any individual project represents its contribution to the firm's enterprise value. C) When using the total payout model, we discount total dividends and share repurchases, and use the growth rate in earnings when forecasting the growth of the firm's payout. D) In the total payout model, we first value the firm's equity, rather than just a single share. 17. Which of the following statements is FALSE? A) The firm's weighted average cost of capital (WACC) is the cost of capital that reflects the risk of the overall business, which is the combined risk of the firm's equity and debt. B) When using the discounted free cash flow model we should use the firm's WACC as the discount rate. C) When using the dividend-discount model we should use the firm's equity cost of capital. D) When using the discounted free cash flow model we should use the firm's equity cost of capital. 18. Which of the following statements is FALSE? A) If the bond trades at a discount, and investor who buys the bond will earn a return both from receiving the coupons and from receiving a face value that cxcccds the price paid for the bond. B) Most coupon bond issuers choose a coupon rate so that the bonds will initially trade at, or very near to, par. C) Coupon bonds always trade for a discount. D) At any point in time, changes in market interest rates affect a bond's yield to maturity and its price