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Which of the following statements is most incorrect? The WACC is a measure of the before-tax cost of capital. Typically the after-tax cost of debt

Which of the following statements is most incorrect?

		The WACC is a measure of the before-tax cost of capital.
		Typically the after-tax cost of debt financing exceeds the after-tax cost of equity financing.
		The WACC measures the marginal after-tax cost of capital.
		Statements a and b are correct.

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