问题如下图：
选项：
A. 
B. 
C. 
解释：
请问一下C的答案如何理解，duration拉长说明intrinsic value of stock will increase, so compare withe market price should be undervalue, 这样理解对吗？
NO.PZ201512300100000906 我能问一下对A答案的影响正确的termin变小？
NO.PZ201512300100000906 问一下A，在方法二中，乘数法，P/E=（1-b)(1+g)/(r-g)。这个等式可以反求出(1+g)/(r-g)。在通过V11=1(1+g)/(r-g)，可以算出V11，再往前折现，但是，怎么判断是变大还是变小呢？
The totvalue estimateusing the thirapproawoulincrease. Using this new assumption anthe first approawill lebson to conclu ththe stois overvalue B is correct. If the extraornary growth rate of 14 percent is expecteto continue for a longer ration, the stock’s value woulincrease. ChoiA is false because given ththe first stage is longer (11 years insteof 8), the terminvalue is being calculatea later point in time. So, its present value woulsmaller. Moreover, the first stage hmore years ancontributes more to the totvalue. Overall, the proportion contributethe seconstage woulsmaller. ChoiC is false because the intrinsic value of the stowoulhigher anthe appropriate conclusion woulththe stowoulunrvalueto a greater extent baseon the first approach. BHmol的方法公式计算结果应该没变啊，公式里没涉及到期限，为什么B是对的
A和C是不是都不需要去具体计算，直接通过做定性的判断就可以了。 特别是C，高速增长的时间长了，分母1变大了，但分子也变大了，只是有可能InstrinValue变大。需要确切计算出来吗？谢谢！
我选了B，是因为画图，Hmol在图中上半部分的三角形底边边长了，所以面积变大，value更大。这么分析可以吗？
