Which of the following statements concerning stock valuation is most correct?

a..The free cash flow method will result in a higher valuation that the dividend valuation method, because cash flows are higher than dividends.

b. The free cash method can only be used if a company does not pay dividends

c. The dividend valuation approach is more accurate than the free cash flow approach.

d. When using the free cash flow method, interest-bearing debt must be subtracted from firm value to determine the stock value.