For the purposes of calculating WACC which of the following statements is FALSE?

a.

The expected cost of common equity can be calculated using the capital asset pricing model

b.

The expected cost of preferred equity can be calculated as its dividend yield

c.

The expected cost of common equity can be calculated using the dividend discount model

d.

The tax shield related to debt is zero if the corporate tax rate is greater than zero

e.

The expected cost of debt can be calculated as its yield to maturity