Which of the following statements is INCORRECT?

Select one:

a. In general, managers estimates of intrinsic value are better than the estimates of outside financial analyst.

b. A stocks true long-run value is more closely related to its intrinsic value than its current market price.

c. A CEO who is about to exercise a million dollars in stock options and then retire would prefer that the companys stock is overvalued.

d. A firms intrinsic value can be measured precisely.

e. A stocks current price is its market price whereas the value is based on perceived risk and return data.