Which of the following statements is correct regarding valuation methods?

1. The value of technology companies is based mostly on the level of dividends paid to their shareholders.

II. The market to book multiple is commonly used to value firms with a lot of tangible assets in their balance sheet.

III. Estimates of a stock's intrinsic value calculated with the discounted cash flow method depend most critically on the working capital management method used.

options

O A. I only

OB. II only

OC. Ill only

OD. I and II only

OE. None of the choice combinations in A, B, C and D are correct