8.) Which of the following statements is true? A) According to the static trade-off theory, shareholders can ignore indirect financial distress costs because these costs are borne entirely by debtholders. B) According to the pecking order theory, managers never find it optimal to accumulate cash reserves. C) A debt overhang problem can only arise if a company's debt is risky, but not if the debt is risk-free. D) A company's asset beta is always lower than its equity beta