Which of the following is FALSE?

A:

A companys WACC can be used as the discount rate to calculate the Net Present Value of the projects expected cash flow.

B: A companys WACC can be used as the hurdle rate which must be exceeded by the projects Internal Rate of Return.

C:

The cost of equity is essentially the rate of return that investors are demanding or expecting to make on money invested in a companys common stock.

D:

The cost of debt is the rate that companies have to pay when they lend money.

E:

Dividend Growth Model may be used to calculate the cost of equity of a company.