Which of the Following Statements Regarding the Calculation of EVA $\rarr$

Which of the following statements regarding the calculation of EVA $\rarr$ is not true?

A) Adjusted accounting data are used to estimate EVA $\rarr$ .
B) The operating approach and the financing approach lead to identical estimates of EVA $\rarr$ .
C) EVA $\rarr$ NOPAT represents after-tax cash operating income,after depreciation.
D) EVA $\rarr$ NOPAT represents after-tax cash operating income,before depreciation.
E) The divisional cost of capital (minimum rate of return) is used to impute a charge on capital invested in the division during the period.