Valuation issues.

Explain why each of the following statements is generally incorrect: a. "Price-earnings ratios should increase when the yield on government securities rises." b. "A company's discounted cash flow value is usually dominated by the magnitude of its expected cash flow stream during the future five to ten years, whereas its terminal value usually has a negligible effect on its DCF value." c. "The use of high debt ratios to finance leveraged buyouts is essentially a device to capture the tax savings generated by the deductibility of interest expenses."