Which of the Following Statements About the Relation of the M&M

Which of the following statements about the relation of the M&M propositions to the real world is true?

A) While the propositions state that capital structure does not matter, in the real world capital structure can matter.
B) Although the propositions are based on the assumption that financial markets are perfect, all of the conclusions drawn work in the real world as well.
C) Although some of the conclusions don't work in the real world, it is true that a firm's cost of capital is independent of the firm's capital structure choice.
D) Both B and C are true statements.