The Nunnally Company estimates that its overall WACC is 12%. However, the company's projects have different risks. Its CEO proposes that 12% should be used to evaluate all projects because the company obtains capital for all projects from the same sources. If the CEO's opinion is followed, which of the followings is likely to happen over time? Select one: a. The CEO's recommendation would maximize the firm's intrinsic value. ob. The company will take on too many low-risk projects and reject too many high-risk projects. The company will take on too many high-risk projects and reject too many low-risk projects. O d. Things will generally even out over time, and, therefore, the firm's risk should remain constant over time. O c