Consider a project with a HIGH beta. If you use the WACC as the discount rate for this project, you would be more likely to the NPV and the risk of the projec underestimute overestifute overestimuter underestimste overetimate overestimuse underestimate, underestimate Question 9 Assume taxes and bankruptey costs exist, Which of the following is TRUE? 1. The WACC depends on the caphtal structure: ii. According to the pecking order, a frem should use equaty financing first. II orily F and if Nrither Inor lonly