The constant-growth dividend model will provide invalid solutions when a. the growth rate of the stock exceeds the required rate of return for the stock. b. the growth rate of the stock is less than the required rate of return for the stock. c. the growth rate of the stock equals the required rate of return for the stock. d. none of the above.

Faldo corp sells on terms that allow customers 45 days to pay for merchandise. its sales last year were $325,000, and its year-end receivables were $60,000. if its dso is less than the 45-day credit period, then customers are paying on time. otherwise, they are paying late. by how much are customers paying early or late? base your answer on this equation: dso - credit period = days early or late, and use a 365-day year when calculating the dso. a positive answer indicates late payments, while a negative answer indicates early payments.a. 21.27b. 22.38c. 23.50d. 24.68e. 25.91b