Which one of the following statements is INCORRECT: Select one: O b. Market risk is theoretically the most relevant because it is the one that, according to CAPM, is reflected in stock prices. Unfortunately, market risk is also the most difficult to measure, primarily because new projects don't have "market prices" that can be related to stock market returns. O c. a. One objective of risk analysis is to determine whether a project's risk differ from that of an average project at the company. If so, the project's cash flows should be discounted at the project's risk- adjusted cost of capital instead of a company's overall weighted average cost of capital (WACC). O d. Stand-alone risk is risk a company would have if the company had only ONE project. Ignores both firm and shareholder diversification. Measured by the of the project's NPV. F Corporate risk is a non-diversifiable, systematic risk and it defined as the variability a project that does not contribute to a corporation's stock returns, considering that the project is only one of many. Therefore, some of the project's risk is eliminated by diversification if it is not perfectly correlated with the other projects.