An investor who believes in the strong form of the efficient market hypothesis will reach which of the following conclusions about the arbitrage pricing theory $($APT$)?$

A$)$

An investor using APT to adjust required returns for inflation and industrial production growth can achieve superior results.

B$)$

No investor can benefit from APT unless fundamental analysis is used to develop a required return before applying APT principles.

C$)$

An investor cannot consistently use APT to achieve superior results.

D$)$

APT allows an investor to refine the capital asset pricing model to generate more accurate total return projections.