Which one of the following statements concerning financial leverage is correct in a world without taxes? A) Leverage is beneficial only when EBIT is relatively low. B) M&M Proposition I states that financial leverage is irrelevant to the value of a firm. C) Financial leverage lowers the risk level of a firm. D) The amount of financial leverage employed has a major effect on the value of the firm. E) EPS is decreased when leverage is used and the expected level of EBIT is achieved