Which of the following statements is NOT CORRECT?

The cost of capital may be different for a foreign project than for an equivalent domestic project because foreign projects may be more or less risky.

A foreign currency will, on average, depreciate against the U.S. dollar at a percentage rate approximately equal to the amount by which its inflation rate exceeds that of the United States.

The United States and most other major industrialized nations currently operate under a system of fixed exchange rates.

A deposit of $10,000 US by a French citizen in a Barclay's bank in London would be considered a Eurodollar deposit.