Which of the following statements is CORRECT?

Group of answer choices

The free cash flow valuation model for constant growth, V_op = FCF₁/(WACC g), can be used to value firms whose free cash flows are expected to decline at a constant rate, i.e., to grow at a negative rate.

The value of operations of a stock is the present value of all expected future free cash flows, discounted at the free cash flow growth rate.

The constant growth model is often appropriate for evaluating start-up companies that do not have a stable history of growth.