单选题 The required rate of return on equity used as an input to the dividend discount model is influenced by each of the following factors EXCEPT: A. the expected inflation rate. B. the stock's appropriate risk premium. C. the stock's dividend payout ratio.

【正确答案】 C

【答案解析】A stock's required rate of return is equal to the nominal risk-free rate plus a risk premium. The nominal risk-free rate is approximately equal the real risk-free rate plus expected inflation.