Which of the following statements is FALSE? O A. By holding a portfolio of a firm's equity and its debt, we can replicate the cash flows from holding its levered equity. O B. The levered equity return equals the unlevered return plus an extra "kick" due to leverage. O C. If a firm is unlevered, all of the free cash flows generated by its assets are available to be paid out to its equity holders. O D. The cost of capital of levered equity is equal to the cost of capital of unlevered equity plus a premium that is proportional to the market value debt- equity ratio