Consider the Modigliani and Miller (M\&M) Theory \#1 of Capital Structure where there are NO taxes and NO bankruptcy costs. Which of the following statements is / are correct? 1) Firm value always increases as more debt is added II) Firm value stays constant as more debt is added III) WACC always decreases as more debt is added IV) WACC always increases as more debt is added V) WACC stays constant as more debt is added I and III only II and III only II and V only I and IV only