Question 24 3 points Which of the following statements is CORRECT? O The WACC as used in capital budgeting is an estimate of a company's before-tax cost of capital O The percentage flotation cost associated with issuing new common equity is typically smaller than the flotation cost for new debt. O The WACC as used in capital budgeting is an estimate of the cost of all the capital a company has raised to acquire its assets O There is an "opportunity cost' associated with using retained earnings, hence they are not "free O The WACC as used in capital budgeting would be simply the after-tax cost of debt if the firm plans to use only debt to finance its capital budget during the coming year