Question 3 Which of the following statements is true about the general dividend valuation model? It implies that the value of a share of stock is determined by the present value of the future dividends. it implies that the value of a firm's common stock can be determined only if the expected future investments are unpredictable. It implies that the value of a growth stock can be determined by forecasting the future price of the firm's bonds. The model cannot be used to calculate the value of a common stock unless the dividends exceed the firm's expected Inventory. Question 13 A capital budgeting project's payback period represents the number of years it takes to recover its initial investment the number of years it takes to get a positive NPV the number of years it takes to get a positive IRR the number of returns it takes to get a positive cash flow