Assume that you valued a stock using the CAPM and arrived at the value of $15. However, the stock is traded at $80. Which of the following is not likely to be a reason for this discrepancy?

		The expected rate of dividend growth was underestimated.
		The stock is undervalued by the market.
		The expected future dividends do not fully reflect the company's growth opportunities.
		All of the above could be reasons for the discrepancy.
		None of the above could be a reason for the discrepancy.