What is the Dividend Discount Model? Write down the formula and explain each component of the formula (e.g., Dt is the dividend at time t). Also, explain the economic intuition behind the Dividend Discount Model. 2. What is Net Present Value (NPV)? How do we use NPV to make investment decisions? 3. What is the Internal Rate of Return (IRR)? Express the Dividend Discount Model using IRR. How do we use IRR to make investment decisions? 4. What is the key assumption behind Gordon's Growth Model? Derive the formula and explain the meaning of each component. What is the economic intuition? 5. Use Gordon's Growth Model to show the relationship between expected return and Book-to-Market (B/M) and Gross Profit-to-Asset. Explain the economic intuition. 6. What is value investing? Provide a measure to implement the value strategy. Which firms should be bought and sold