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In a discounted cash flow (DCF) valuation, if we make use of a terminal value cash flow multiplier to determine terminal value, this is

In a discounted cash flow (DCF) valuation, if we make use of a terminal value cash flow multiplier to determine terminal value, this is \ A. equivalent to assuming constant growth for all years following the terminal cash flow.\ B. more conservative than imposing constant growth for all years following the terminal cash flow.\ C. a way to factor in the interest tax shields into the terminal value\ D. more aggressive than imposing constant growth for all years following the terminal cash flow.\ E. a way to get around the awkwardness of eventually having to impose constant growth in cash flow.

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