All of the following statements are valid about optimal capital structure EXCEPT:

a. Optimal capital structure is estimated by calculating the mix of debt and equity that minimizes the WACC.

b. Achieving optimal capital structure helps to maximize a company's market value

c. none of these

d. finding the optimal capital structure will make more capital budgeting projects to be accepted

e. optimal capital structure maximizes a company's cost of capital for the benefit of the shareholders.