Which of the following statements regarding the constant growth dividend discount model is most accurate?

Question 35 options:

	The model is based on the dividend one year from the valuation period.
	The model requires that the required return be greater than or equal to the growth rate of the dividend.
	The model can be rearranged to determine the payout ratio.
	The model is highly sensitive to small differences in the required rate of return or the dividend growth rate.