Which of the Following Statements Is False

Which of the following statements is false?

A) Given a forecast of future interest payments, we can determine the interest tax shield and compute its present value by discounting it at a rate that corresponds to its risk.
B) The total value of the unlevered firm exceeds the value of the firm with leverage due to the present value of the tax savings from debt.
C) To compute the increase in the firm's total value associated with the interest tax shield, we need to forecast how a firm's debt-and therefore its interest payments-will vary over time.
D) There is an important tax advantage to the use of debt financing.