Which statement below is NOT correct?

Prefered stock is a hybrid between bonds and common stock.

We can estimate the current value of a stock if we know future price of the stock when we want to sell it$,$ the dividend that the stock pays every year until we sell it$,$ and the its required rate of return.

$$The dividend growth model can be used if the dividend grows at a constant rate.

$$The value of a stock is the sum of the present value of all future cash flows that the stock will generate.

$$The dividend growth model can be applied to stocks that do not pay dividends.