Consider the Modigliani and Miller (M\&M) tradeoff theory of capital structure. Assume there are taxes but 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 only I and IV only II and V only II and III only None of the statements are correct