Which of the following is NOT a way weighted average cost of capital $($WACC$)$ is used to analyze a company's financial activities?

Question $14$ options:

WACC is the rate a company is expected to pay, on average, to its security holders.

All of these answers.

WACC is the minimum rate of return a company must earn on a new venture.

WACC influences how a company's capital structure is balanced.