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A multi-stage discounted cash flow model (such as the two-stage DDM) is useful because many scenarios exist in which a company can achieve a supernormal

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A multi-stage discounted cash flow model (such as the two-stage DDM) is useful because many scenarios exist in which a company can achieve a supernormal growth rate for a number of years, after which time the growth rate falls to a more sustainable level. True False sheets. True False

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