Which of the following is INCORRECT?

In the constant$-$growth dividend valuation model, the required rate of return on a common stock can be shown to be equal to D$1/$P$0+$ g where D$1$ is the expected dividend, P$0$ is the current share price, and g is the constant dividend growth rate.

By EPS$1/$P$0=$ r x $(1-$PVGO$/$P$0)$ where P$0$ is the current share price, EPS$1$ equals the average future earnings the firm could generate under no$-$growth policy, r is the capitalization rate, and PVGO is the present value of the growth opportunity, we have that EPS$1/$P$0$ is smaller than the capitalization rate if there is growth opportunity for the firm.

One can estimate the sustainable dividend growth rate for a stable firm as plow$-$back rate $\backslash$times the return on equity $($ROE$).$

The constant dividend growth formula P$0=$ D$1/($r $-$ g$)$ assumes r $<$ g$.$