Question $9(3$ points$)$

Which of the following statements are false?

Worst$-$case analysis would include the highest anticipated level of fixed costs.

For a project that you believe is quite risky you should use a higher discount rate.

Best$-$case analysis would include the lowest level of anticipated working capital.

A firm that relies heavily on fixed costs has a high degree of operating leverage.

Statement one $(1)$ is false.

Statement two $(2)$ is false.

Statement three $(3)$ is false.

Statement four $(4)$ is false.