23) When using the constant-growth dividend valuation model, which of the following will lower the value of the stock? A) an increase in the required rate of return B) a decrease in the required rate of return C) an increase in the dividend payout ratio D) an increase in the growth rate of the dividends Answer: A Learning Outcome: F-09 Discuss the fundamentals of stocks and how to value them AACSB: 3 Analytical thinking Question Status: Previous Edition Learning Goal: Learning Goal 4