Which of the following statements is correct?

Vlj ett av alternativen:

a)

One difference between common stock and bond is that the bond holders are the owners of the firm.

b)

The enterprise value of a firm is affected by all present and past cash flows of the firm.

c)

When calculating the Free Cash Flow (FCF) of a firm, you can ignore Capital Expenditure, because it does not affects earnings.

d)

The dividend yield is defined as the expected dividend at t = 1 divided by the current stock price while capital gain is the return from a change in the stock price between t=0 and t=1.