Consider a conglomerate corporation such as Wesfarmers (currently owning several retail chains as well as chemical and mineral interests). Which of the following would be true about WACC computed for Wesfarmers?

		WACC would reflect the systematic risk of all Wesfarmers subsidiaries.
		WACC would be the appropriate discount rate for valuing the expansion of any Wesfarmers subsidiary.
		WACC would over-value projects/assets for some Wesfarmers subsidiaries and undervalue projects/assets for other subsidiaries.
		WACC would represent the weighted average of the required returns on projects in Wesfarmers various business lines.