Which of the following statements is FALSE?

A. when estimating the risk-free rate in the CAPM, we should use the current yields on the U.S. Treasury securities

B. Survey shows most large firms and financial analysts use the yields on long-term (10-to-30 year) government bonds to determine the risk-free interest rate.

C. For the firms with a significant risk of default, the yield to maturity on their bonds will underestimate debt holders' required cost of debt.

D. None of the above