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4 Which of the following is NOT a stage used to predict expected default frequency in the Moody's Expected Default Frequency model? The expected value

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4 Which of the following is NOT a stage used to predict expected default frequency in the Moody's Expected Default Frequency model? The expected value of the firm (based on current firm value and volatility) The market value and volatility of the firm's shares The frequency and volatility of dividend payments The default point-based on the firm's liabilities

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