Which of the following statements about equity valuation is correct?

	A.	Constant-growth rate dividend discount model (DDM) imples that a stock's value increases if the required return increases.
	B.	Constant-growth rate dividend discount model (DDM) imples that the stock price is expected to grow faster than dividends.
	C.	Constant-growth rate dividend discount model (DDM) imples that a stock's value increases if the expected growth rate of dividends increases.
	D.	The security is over valued if its expected holding period return (HPR) is above the required return.
	E.	The present value of growth opportunities (PVGO) is always positive.