Question 3 Which of the following statements is correct regarding valuation methods? 1. Analysts often choose to use a multiple-stage valuation model to value a firm or a firm's equity (instead of a single-stage constant growth valuation model) when the firm is mature and its growth rate has reached a sustainable level. II. The EBITDA multiple is unaffected by differences in product and general business cost structure, depreciation policy, capital structure, and tax management The market to book multiple is likely to be inflated when the firm has been experiencing years of substantial losses. cow Il only Ill only I and II only I, II and III None of the choice combinations given in A., B., C., and D. are correct