Question
Under the competitive equilibrium assumption, the terminal value in the discounted cash flow model is the present value of the end-of-year book value of equity
Under the competitive equilibrium assumption, the terminal value in the discounted cash flow model is the present value of the end-of-year book value of equity in the terminal year. Explain.
Text: Business Analysis and Valuation fifth edition
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Practical Financial Management
Authors: William R. Lasher
7th edition
128560721X, 9781133593669, 1133593682, 9781285607214, 978-1133593683
