I have attached the guideline and keypoints to this qn (b) & (c) Would require detailed answer. Thanks!

(b) A stock you are valuing has substantial abnormal earnings at the start of the post horizon period. Explain in detail what assumptions you would make for the post horizon period and why. (10 marks) (c) Briefly discuss the relative merits of market based and accounting based measures of equity return. (5 marks) (b) This was about persistence and mean reversion, i.e. describing barriers to entry (of which there are many) and speculating about how long each of them might last. Palepu et al. is a good source. (c) A summary of the section in the subject guide was sufficient for a very good