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CFA EOC ?’s for reading equity reading #42, question 23.
When using a two stage DDM to calculate terminal value and proportion of value represented by the second stage is it necessary to calculate and present value every dividend so this amount can be determined?
Also it seems like a disproportionate share, 90%, is being valued towards the second stage when the growth rate is much lower. What is technically considered second stage?
Seems like this would be a really time consuming question on the exam.
Thanks,
John |
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发表于 2013-4-17 19:45
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