Understanding Modigliani-Miller Proposition

ABC Corporation is considering its capital structure and the implications of financing choices on firm value. As part of their analysis, they are reviewing the Modigliani-Miller Proposition, which states that in a world without taxes and bankruptcy costs, the value of a company is unaffected by how it is financed. This concept is fundamental in corporate finance. Given this scenario, which of the following statements accurately reflects the Modigliani-Miller Proposition?