Which of the following statements is correct?

a. The dividened growth model takes into consideration the capital gains earned on a stock.

b. Assume that the required return on a given stock is 13%. If the stocks's dividended is growing at a constant rate of 5%, its expected dividened yield is 5% as well.

c. A stock's dividened yield can never exceed its expected growth rate.

d. A required condition for us to use the dividened growth model is that a stock's expected growth rate exceeds its required rate of return.

e. The price of a stock is the present value of all expected future dividends, discounted at the dividended growth rate