Which of the following is FALSE regarding the use of the dividend growth model for estimating the cost of equity capital?

		A key advantage to this model is its high degree of simplicity.
		The results from this model are not sensitive to changes in the dividend growth rate.
		One method of estimating future growth rates is the use of historical growth rates.
		The model works particularly well for companies that maintain a mostly steady dividend growth rate.
		The model does not explicitly consider risk.