Which of the following statements is FALSE? Select one: A. The probability of financial distress depends on the likelihood that a firm will be unable to meet its debt commitments and therefore default. B. Firms with steady, reliable cash flows, such as utility companies are able to use high levels of debt and still have a very low probability of default C. Real estate fins are likely to have low costs of financial distress, as much of their value derives from assets that can be sold relatively easily. o D. Firma whose value and cash flows are very volatile must have much higher levels of debt to avold a significant risk of defoult O E Agency costs represent another cost of increasing the firm's leverage that will affect the firm's optimal capital structure choice Seory choice