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Which one of these applies to stock valuation? The value of a stock today is determined by the stock's historical values. The value of a

Which one of these applies to stock valuation?
The value of a stock today is determined by the stock's historical values.
The value of a stock today equals the discounted value of the future expected cash flows.
The value of a stock can be computed with certainty.
The value of a stock today is based on guaranteed future cash flows.
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