If the value of the business, according to the discounted free cash flows to the firm model is present value of all its future free cash flows to the firm discounted at the weighted average cost of capital, which of the following statement is not true?

Business destroys its value when it engages in activities that earn less free cash flows to the firm in the future.

Business destroys its value when it engages in activities that earn more future EBIT without increasing the riskiness of the firm.

Business creates its value when it funds with right mix of debt and equity that lowers WACC without affecting the magnitude, timing, and risk of the future free cash flows to the firm.

Business is neither creating or destroying its value when the rate of return on its invested capital is the same as the WACC.