Which of the following statements is not true about the weighted average cost of capital

(WACC) method?

a. Average company WACC should not be used for evaluating projects in a multi-segment conglomerate

B. If WACC is less than IRR of a strip mine project, then, the NPV of the project will always be greater than zero

c. WACC adjusts for the tax deductibility of interest costs

d. If WACC is greater than the IRR of a project and the cash flows are conventional, then, the NPV of the project will always be less than zero

E. WACC cannot be used to evaluate projects in which the capital structure is significantly different from the firm's overall structure