Which of the following statements is false?

A.

The discount payback period (DPP) frequently ignores terminal values.

B.

The payback period (PP) provides a measure of a projects liquidity.

C.

The net present value (NPV) is a direct measure of the expected increase in the firms value and considers the size of the project.

D.

The weighted average cost of capital (WACC) will decrease if the firms corporate tax rate increases.