Which of the following is FALSE?

Select one:

a$.$ The cost of equity for Tangshan Mining would be roughly $10$ percent if the expected return on U$.$S$.$ Treasury Bills is $2$ percent, the market risk premium is $6$ percent, and the firm's beta is $1\mathrm{.}33.$

b$.$ The cost of common stock equity capital represents the return required by existing shareholders on their investment.

c$.$ The cost of common stock equity may be measured using either the constant$-$growth valuation model or the capital asset pricing model.

d$.$ The cost of common stock equity refers to the cost of the next dollar of financing necessary to finance a new investment opportunity.