Weighted-average cost of capital is the expected rate of return on a portfolio of all the firm's securities,adjusted for tax savings due to interest payments.

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This statement is true. The weighted-average cost of capital (WACC) is the overall cost of capital for a company, taking into account the cost of debt and the cost of equity. It is typically calculated as a weighted average of the cost of debt and cost of equity, with the weights based on the relative proportions of debt and equity in the company's capital structure. The interest payments on debt are tax-deductible, so the WACC is adjusted to reflect the tax savings from these payments.

Weighted-Average Cost of Capital Is the Expected Rate of Return