Which of the following statements is FALSE? Select one: to O A. In a market with no frictions, if a firm issues equity to repurchase some of its debt (i.e., reduce the amount of debt), the share price of the firm's equity will rise because equity holders have a safe claim. B. The levered equity return equals the unlevered return, plus an extra "kick" due to leverage. O C. On the market value balance sheet the total value of all securities issued by the firm must equal the total value of the firm's assets. D. In perfect capital markets, leverage only changes the allocation of cash flows between debt and equity, without altering the total cash flows of the firm