also provide explanation for your choice

Use capital letter T [true] or F {false} to indicate your answer. 1Write down your answer in your answer book. 11. 12. 13. 14. Compared with the APV approach, the WAGE approach always lmderestimates the enterprise value because it only considers free cash ows that do not include interest tax smngs. The CCF and AF? approaches differ only in their assumption about the discount rate for interest tax shields. It is in this sense that GDP is a special case of APV. A multiple as the ratio of a rm's market value {i.e., the market value of equity and debt} to its earnings after interest expenses and taxes is not consistently dened Being subject to the market mood, relative valuation can result in values that are too high when the market is overvaluing comparable rms, or too low who it is undervaluing these rms