Tules, 31 seconds. Question Completion Status: Moving to another question will save this response. Question 37 Which of the following statements is INCORRECT? a. The constant growth model is often inappropriate for evaluating start-up companies that do not pay dividends or do not have a stable history of growth. b. If a stock has a required rate of return r, -12% and its dividend is expected to grow at a constant rate of 5%, then the stock's dividend yield is 7%. c. The constant growth model cannot be used to value firms whose dividends are expected to decline at a constant rate, i.e., to grow at a negative rate. d. The price of a stock is the present value of all expected future dividends. e. The constant growth model can also be used for a zero growth stock, wherein the dividend is expected to remain constant over time. Moving to another question will save this response. MacBook Air esc 20 FT DU Fa 17 $ 1 2 3 4 % 5 6 & 7 8