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Which is the following statements is INCORRECT? A. If the stock market is efficient, stocks are fairly priced. B. The variance has the same units

Which is the following statements is INCORRECT?

A. If the stock market is efficient, stocks are fairly priced.

B. The variance has the same units as the average.

C. The WACC is a function of interest rates, tax rates, and the market risk premium.

D. An increase in NWC is an incremental cash flow.

E. If the stock market is efficient, teh surprise component only affects stock prices.

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