Quickly answer this multiple choice question, thanks!

The dividend growth model has which one of the following as an underlying assumption?

Question 4 options:

a)	A stock has the same value to every investor.
b)	A stock's value is equal to the non-discounted present value of the future cash flows which it generates.
c)	A stock's value changes in direct relation to the required return.
d)	Stocks that pay the same annual dividend have equal market values.
e)	The dividend growth rate is directly related to a stock's market price.