Which of these are situations which indicate CAPM would be an inappropriate method for computing the return on equity, iE$,$ based on the firm's historical beta? Select all that apply.

Multiple select question.

A $3-$year old firm just announced that it has no plans to pay any dividends for the foreseeable future as all funds are needed for expansion

A non$-$dividend paying firm just increased it size to keep up with the demand for its existing products

A firm pays a constant dividend but is in the process of terminating operations in its most risky division

A dividend$-$paying firm just doubled its operations so it can bring an entirely new product to the market