When estimating terminal value using the Gordon growth model, where inputs include a growth rate and a discount rate, we assume that

	a.	an EBITDA multiple is no longer needed.
	b.	cash flows generated after the planning period grow at a constant rate that is less than the cost of capital.
	c.	growth during the planning period is equal to growth after the planning period.
	d.	cash flows generated after the planning period do not grow.
	e.	none of the above.