Which of the following statements are true ?

I. The cost of equity should always be equal to or greater than the cost of debt

II. The WACC Is calculated on after-tax basis

III. The WACC exceeds the cost of equity

IV. For an unlevered firm, the cost of equity and the WACC are the same

The answer is:

a) I,II,III are only true

b) II, III, IV only are true

c) I, III, IV only are true

d) I, II, IV only are true