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In which circumstance is a dividend discount model (DDM) least likely to be an appropriate measure of a stocks value? A. The company has a
In which circumstance is a dividend discount model (DDM) least likely to be an appropriate measure of a stocks value?
A. The company has a clear dividend policy related to the firm's earnings
B. The investor is a majority shareholder
C. The company is a mature firm that generates excess cash flow
D. The company has a long history of dividend payments
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