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To value a non dividend paying firm, the terminal value used in the valuation calculation will most likely be based on an. A. Subjective value

To value a non dividend paying firm, the terminal value used in the valuation calculation will most likely be based on an. A. Subjective value determined by the firm's senior managers B. Salvage value of zero, C. Target ratio. D. Pure play rate of return. E. Expected book value of equity

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