NO.PZ2025041801000021
问题如下：
Question When using a general two-stage DDM, the terminal value of the stock can be estimated using the last dividend paid and:选项：
A.A.only the short-term dividend growth rate. B.B.only the long-term dividend growth rate. C.C.both the short-term dividend growth rate and the long-term dividend growth rate.解释：
- describe terminal value and explain alternative approaches to determining the terminal value in a DDM
两阶段模型的二阶段是GGM， Dt(1+g)/r-g= terminal value 这里不管是分子还是分母的g都应该是长期增长率即第二阶段的增长率把
