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Becky and Mandy are arguing about the best way to value the rapidly growing MySpaceBook.com. Mandy argues that, since MySpaceBook.com is young and will plow

Becky and Mandy are arguing about the best way to value the rapidly growing MySpaceBook.com. Mandy argues that, since MySpaceBook.com is young and will plow most of its earnings back into the company that the present value of all future earnings represents the best estimate of the stocks value. Becky disagrees. Who is right?

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