1. Verizons free cash flows to the firm are projected to be as follows for the next 5 years (all figures in billions):

2020	2021	2022	2023	2024
12.36	12.93	13.62	14.36	14.97

How will your confidence in these assumptions change which model you listen to? For instance, if you were 60% confident of your assumptions for each of the P/E, DDM, and DCF models, which one would you rely on? Think about how much a change in your assumptions changes share prices. There isnt necessarily a mathematically correct answer to this last question. There is, however, an economically reasonable way to justify your thinking regardless of the model you choose to rely on. The internal consistency between what you pick and how you justify it will matter. Would your decision change if you were 60%, 70%, and 80% of the three models, respectively (i.e. less confident of your assumptions for the P/E model relative to the other two)?