Which of the following is not true?

Group of answer choices

The Dividend Discount Model seeks to estimate the current market value of a stock by calculating the present values of the future dividend payments.

The way in which we calculate the stocks market value through the Dividend Discount Model (i.e. the formula we use) may vary based on how the dividend will grow (for example, based on whether the dividend growth rate may change at any point).

The Dividend Discount Model cannot be used to appraise the stock value of companies that do not issue any dividends such as Amazon.

None of the above (all of the above are correct).