PLEASE EXPLAIN YOUR ANSWER

Which of the following statements is CORRECT?

(ONLY ONE IS CORRECT)

A - It is appropriate to use the constant growth model to estimate a stock's value even if its growth rate is never expected to become constant.

B - The free cash flow valuation model can be used for companies that do not pay dividends.

C - The value of operations is the present value of all expected future free cash flows, discounted at the required return on equity.

D - Two firms with the same expected free cash flows and growth rates must also have the same value of operations.