Which statement is FALSE?

Which statement is FALSE?

Arithmetic average dividend growth rate is generally larger than geometric average growth rate when the annual growth rates are positive.

Constant growth model in dividend discount models cannot be applied for firms that pay irregular dividends.

In two$-$stage growth dividend discount model, second growth rate $($g$2)$ must be greater than the required rate of return $($k$).$

The dividend discount model assumes that at least one dividend will be paid in the future.

Higher the discount rate, lower the stock value in stock valuation models.