When a residual operating income $($ROPI$)$ valuation model is in "steady state," which of the following is true?

Select one:

a$.$

The modeling assumptions: sales growth rate, NOPM, and NOAT are the same for the terminal period as for the last year of the horizon period.

b$.$

The modeling assumptions: sales growth rate, NOPM, and NOAT are exactly the same rate in the terminal period.

c$.$

Sales, NOPAT, and NOA grow at exactly the same rate in the terminal period.

d$.$

Both a and b are true.

e$.$

Both a and c are true.