1. Which of the following statements regarding equity valuation are true?
   1. Both the DGM and the RIM calculate the fundamental value of equity.
   2. The CAPM is appropriate for the DGM, but not the RIM model.
   3. WACC is most appropriate discount rate to use for all models.
   4. The bifurcated models work well for DGM and RIM, but are rarely used for the FCF model

1. I only
2. I and III only
3. I, II, and III
4. I, II, III, and IV