Which of the following statements is incorrect? Common-stock holders have limited liability. The constant-growth dividend model tells us that the current price of a share of stock is the next period dividend divided by the difference between the discount rate and the dividend growth rate. O Most of the answers are correct except one. When the security markets are efficient and the current market prices of securities reflect all available information relevant to the valuation of those securities, the security prices will be near or at their true (intrinsic) value. Whenever the required rate of return exceeds the dividend growth rate, the constant-growth model provides invalid solutions