Which of the following best explains the dividend discount method? Select one: a. DDM values stocks, assuming dividends and capital gains are received by equity investors over time b. DDM is a method of valuing a firm, and can be used even for non-dividend paying firms c. DDM values stocks, assuming dividends are the only cash flows equity investors will ever receive d. DDM values stock on a relative basis, which gives timely market information e. DDM is a method of valuing a firm, best used with dividend paying firms, but generally gives a different valuation to the DCF method