Winston Co. has a dividend-paying stock with a total return for the year of -6.5 percent. Which one of the following must be true

Which one of the following statements is correct?    A.  The capital gains yield is the annual rate of change in a stock's price. B.  Preferred stocks have constant growth dividends. C.  A constant dividend stock cannot be valued using the dividend growth model. D.  The dividend growth model can be used to compute the current value of any stock. E.  An increase in the required return will decrease the capital gains yield. Refer to sections 8.1 and 8.2

32.

Supernormal growth is a growth rate that:    A.  is both positive and follows a year or more of negative growth. B.  exceeds a firm's previous year's rate of growth. C.  is generally constant for an infinite period of time. D.  is unsustainable over the long term. E.  applies to a single, abnormal year. Refer to section 8.1

33.	Which one of the following represents the capital gains yield as used in the dividend growth model?    A.  D1 B.  D1/P0 C.  P0 D.  g E.  g/P0 Refer to section 8.1

34.

Winston Co. has a dividend-paying stock with a total return for the year of -6.5 percent. Which one of the following must be true?    A.  The dividend must be constant. B.  The stock has a negative capital gains yield. C.  The dividend yield must be zero. D.  The required rate of return for this stock increased over the year. E.  The firm is experiencing supernormal growth. Refer to section 8.1