Bob and Joe are estimating the intrinsic value for Tesla stocks. They have the same expectations about the expected future cash flows and required rate of return for Tesla and agree that the company has a lot of potential in the long run. Bob plans to hold Tesla for 10 year but Joe plans to hold Tesla for 1 years. Compared to Joe, Bob will most likely estimate a:

a. lower intrinsic value b. similar intrinsic value

c. higher intrinsic value