Which one of the following statements is most likely to be false?

a) As firms mature, their growth slows to rates more typical of established firms.

b) The simplest forecast for the firm's future dividends states that they will grow at a

constant rate forever.

c) The dividend discount models value ordinary shares based on the forecast of the future

dividends to be paid to shareholders.

d) One should use the general dividend discount model to ordinary shares with rapid or

changing growth rates in dividends.